$100 million effort fueled by new funding from the Walton family: Annie Proietti, Carrie Walton Penner, Lukas Walton, and Tom Walton boosts charter school access

The Walton Family Foundation, PNC Bank and Civic Builders today announced a $100 million expansion of the Facilities Investment Fund (FIF), an innovative loan program supporting public charter school facilities.

This capital expansion brings the total fund size to $400 million to date.

The new funding will allow Civic Builders, as fund manager, to provide more affordable and flexible financing to public charter schools—particularly those in the earliest stages of operation.

This expansion reflects a shared commitment to expanding access to high-quality education—empowering students, families and communities nationwide.

With additional capital and updated loan terms, FIF now offers up to 100% financing for school facilities—significantly easing a major barrier to growth for charter schools.

By expanding eligibility to include schools that have been open as recently as six months, the fund directly addresses a critical gap in the market where other lenders often see risk.

Since launching in 2017, FIF has deployed nearly $300 million through 33 loan closings, prioritizing excellent schools in under-resourced communities nationwide. With an average loan size of $8.9 million and an average free or reduced-price lunch rate of 81% across schools served, the fund has helped create more than 17,000 school seats in communities where access to capital is limited.

Recognizing the urgent need for early-stage capital, the FIF team introduced a new predevelopment loan option to help schools secure funding even earlier in their growth. In its first year, the FIF Predevelopment Fund has already deployed $4.5 million to nine schools, addressing critical facility needs at a pivotal phase.

“Facilities are one of the greatest barriers to increasing the number of high-quality schools in this country,” said David Umansky, CEO of Civic Builders. “I’ve always believed that bold, ambitious action is essential to meeting this challenge—and this $100 million expansion reflects that. By pushing beyond what’s traditionally seen as possible, we’re opening doors for more school leaders, more students and more communities to thrive.”

Since the fund’s recent expansion, demand has remained strong. More than $30 million in new loans have already closed, supporting JS Clark Leadership Academy in Opelousas, Louisiana, and Monarch Montessori in Denver, Colorado. A third loan is expected to close in the coming days with The Family Place Public Charter School in Washington, DC.

“This investment strengthens our school’s long-term sustainability and opens the door for strategic growth,” said Laura Pretty, executive director of Monarch Montessori of Denver. “It ensures we can continue to provide high-quality, inclusive Montessori education—rooted in both English and Spanish—to a diverse student body. As we prepare to expand into middle school, the financial stability provided by the Facilities Investment Fund loan positions us to grow intentionally and responsively. We’re building a lasting educational home for families and establishing our school as a community anchor for years to come.”

“PNC is proud to support the expansion of the Facilities Investment Fund, which will help even more deserving charter schools to have access to the capital they need to grow,” said Samantha Funk, executive vice president and head of PNC Public Finance Capital Solutions. “We are committed to investing in high-quality educational environments through our PNC Public Finance charter school practice because we know education is a powerful means for economic and social mobility. It is an investment in stronger communities and the success of future generations.”

Facilities Investment Fund impact to date:

$292.6 million in total funding deployed

33 loans closed

Average loan size: $8.9 million

Largest loan: $22.5 million | Smallest loan: $1.4 million

Average free or reduced-price lunch student population: 81%

17,083 student seats created

The Facilities Investment Fund (FIF), a partnership between the Walton Family Foundation and Civic Builders, is designed to expand access to affordable facilities financing for high-potential public charter schools.

Launched in 2017 and supported by the Building Equity Initiative, the fund offers loans for new construction, renovation, refinancing, acquisition, leasehold improvement and predevelopment.

With flexible terms and below-market interest rates, FIF helps charter schools secure high-quality facilities and grow their impact in under-resourced communities.

The Walton Family Foundation is, at its core, a family-led foundation. Three generations of the descendants of our founders, Sam and Helen Walton, and their spouses work together to lead the foundation and create access to opportunity for people and communities.

They work in three areas: improving education, protecting rivers and oceans and the communities they support and investing in our home region of Northwest Arkansas and the Arkansas-Mississippi Delta.

Civic Builders is the nation’s leading nonprofit lender and developer of public charter schools.

Since 2002, the organization has invested more than $1.5 billion into over 100 schools, bringing high-quality educational opportunities to more than 51,000 students annually.