Mind Trust An Example of Venture Philanthropy Best Practices

This is education venture philanthropy at its best.   More cities could use a Mind Trust too.
Teach For America, Brooklyn, June 2012

Announcing our latest Charter School Incubator winners

The Mind Trust announced today that we will invest $1 million in Rocketship Education and $1 million in KIPP Indy to help each launch networks of charter schools in Indianapolis. Rocketship and KIPP are among the very best charter operators in the country.  

We’re making the investments through our Charter School Incubator, which we use to grow the number of best-in-class public charter schools in Indianapolis.

The investments in Rocketship and KIPP will support the launch of two high-quality school networks. Together, these two networks will add 12 schools serving 6,250 students to the Indianapolis landscape by 2020.

Rocketship will start a new eight-school network that serves students in kindergarten through fifth grade. KIPP Indy, which currently operates a middle school, KIPP Indianapolis College Preparatory, will add two elementary schools, another middle school, and a high school to become a five-school network.

Rocketship, founded in San Jose, Calif., has attracted widespread national attention for its success in helping low-income students achieve outstanding results. Across its seven California schools, 90 percent of Rocketship students receive free and reduced-price lunch, yet 82 percent of Rocketship students are proficient in math. That pass rate is higher than California’s statewide rate and that of the neighboring San Jose Unified School District, where half as many students qualify for free and reduced-price lunch.

KIPP, which operates 125 schools in 36 cities, is one of the nation’s best charter school networks. Over the last three years, KIPP Indy has increased student proficiency on the ISTEP+ by 30 points in English and 39 points in math and received an “A” school grade because of its consistent improvement.

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