Level Field Facilities Fund Inc

Overview

Level Field Facilities Fund Inc (LFFF) is a nonprofit organization that focuses on providing flexible and affordable capital to charter schools in the United States. The fund was established in 2021 to address the critical financing gaps that charter schools face, particularly in accessing public funds for facilities development. LFFF is part of the broader educational services and schools category, with a mission to support equitable outcomes for students through quality educational infrastructure.

Mission and Objectives

The primary objective of LFFF is to bridge the financial gap by offering a range of project financing solutions. This includes pre-development loans, site acquisition financing, subordinate debt, and leasehold improvement loans to both established and early-stage charter schools. The fund prioritizes supporting organizations led by people of color and aims to foster growth and sustainability in the charter school sector.

Operations and Impact

LFFF's operations are managed by Level Field Partners, with a team of professionals experienced in real estate and finance. The fund is headquartered in Washington, D.C., but operates nationally. LFFF's initial pilot fund was closed in 2021 with $14.5 million, which was fully committed within less than two years. By 2023, the fund had deployed over $15 million in project loans, leveraged $71 million in total debt, supported 4,000 students, and helped add 1,300 new seats across eight states. The majority of students served by funded schools qualified for the federal free and reduced-price lunch program[1][3].

Partners and Funding

LFFF is backed by prominent impact investors like the Walton Family Foundation, Reinvestment Fund, LISC, and Nonprofit Finance Fund. The fund's approach emphasizes flexible and adaptable financing solutions to meet the unique needs of charter schools, often providing critical support early in the development process when conventional lenders are less likely to participate[2][4].

Financial Overview

As of the end of 2023, Level Field Facilities Fund Inc reported revenues of $1.58 million and expenses of $705,000, with total assets valued at $10.5 million and liabilities at $9.71 million[5]. The organization receives funding through contributions, program services, and investment income[5].

Leadership and Governance

LFFF’s leadership includes a board of directors with experience relevant to its mission. Key personnel have been involved in various roles, including co-presidents and directors, with no reported compensation as of recent filings[5]. The organization operates with a focus on maintaining impact-driven capital and fostering equitable educational outcomes[3].