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Location: Vallejo and Richmond, California
Loan Amount: $14.3 million
Savings Amount: $4.0 million
School Site: www.caliberschools.org
Ratings Direct: Caliber Public Schools
Obligor Summary: Caliber Public Schools ChangeMakers Academy Obligor Summary
Established in 2014, Caliber is a two-school network that serves over 1,600 students in grades Pre-K to 8 and has a mission to “achieve equity by shifting the experiences, expectations and outcomes for students in historically underserved communities.” The school’s educational program and philosophy is founded on four guiding pillars designed to equip graduates to have skills in critical thinking, emotional intelligence, academic college readiness, and agents of change. Caliber’s students – over 70% of whom qualify as low-income – typically outperform their peers throughout California on state Math and ELA assessments.
EFF provided Caliber with a 30-year, fixed-rate loan to purchase their ChangeMakers Academy facility in Vallejo. Caliber will save $4 million over the life of the loan, redirecting valuable resources to the school’s high-impact classrooms.
“We are eternally grateful to EFF for providing the funding for a permanent home that our students and families can be proud of. We would never have been able to navigate the complexities of this financing structure without the expertise they brought to the table. They understood what we were trying to accomplish and worked tirelessly to optimize the structure for our needs. We couldn’t be happier with the end result!”
– Markus Mullarkey, Chief Operating Officer, Caliber Public Schools