Alexander Haas - Jerry & Jeff

How to layer a capital campaign on what is already being done. Completed Campaign Strategy Study. 

Recommendations based on what was shared earlier: 

- Do not recommend launching an $8M campaign because of no upper level gifts typically seen on an $8M campaign, constituents desire more information around charter schools and funding sources; need to focus on developing relationships

Recommends to move forward with some quiet focused fundraising for $1M.

- One or two projects related to the new elementary campus with a goal of $500K

- Small committee (4-6 members) with Executive Director and a few other members

- Detailed campaign plan for things that are of most importance

- 5- to 6-figure donations

- Board expectation to participate in capital campaign at 100%

- Capital committee should continue to revisit the preliminary goal to determine final goal of campaign

Next Steps:

- Follow up with those interviewed to further develop relationships and pitch for specific project(s)

- Develop communication plan

- Emphasize importance of ongoing annual support

L. Norton asked about timing. Response: Getting back to interviewees should be in the next few months; moving forward with the capital committee/plan should be over this upcoming year

It is recommended that GLOBE hire a staff member to lead the development efforts and to focus on developing relationships. Strengthen and grow a gifts campaign. 

Wes led a discussion on the state of the bonds.

Long-term fixed rate bonds

Bonds can be sold to various types of investors

Bond rating to be received on Wed, Jan 31

Appears that the available debt is within range

Importance of having a good relationship with Moody's so that if GLOBE goes back to the market, there may be good standing towards a future rating. 

A. McMillon asked the penalty of breaking covenants. Response: If we miss the cash on hand covenant gives investors the right to institute a financial consultant to make recommendations for how we can get into good standing. If breaking the 1.1x Max Annual Debt Service Coverage, a majority of investors would need to agree on an intervention.

D. Reynolds stated there is an annual audit in November and they will be sent to investors so they know how the bond investment stands. 

Timeline

• Property closing: late Feb
• Permitting: Mar-Jul ‘24
• Construction: Aug ‘24-May ’25
• Move-in: Summer ‘25
• School starts: Aug ‘25

Permitting: Lots must be consolidated

D. Torre asked about confidence of construction timing. L. Norton responded Winter has provided the schedule with high confidence. 

Breck asked about back up plan. C. Elliot Earby stated we would consider additional options or phased move-in

M. Hayes inquired about move-in time. L. Norton confirmed 

L. Long asked about the timing of students. C. E. Earby confirmed that 4th grade students would remain at Upper Campus for 5th grade. 

L. Long inquired about the upgrades for Upper Campus. L. Norton that the strategic plan would help to determine what would have the priority for upgrades. 

D. Reynolds assessed pulse of the board whether GLOBE should start to consider BDR services for improvements to upper campus. 

Based on the Fall to Winter MAP scores, there was not an increase of students in the high growth quadrants as intended. 

Meeting the goal of decreasing the number of absences.

Will look to improve on how they set goals for the future.

Academic Priorities for the next 5 years

• Increase opportunities for in person parental involvement on campus.
• Improve communication with parents around their children’s learning experiences.
• Set and periodically measure progress toward schoolwide goals, including around increasing student achievement across groups.
• Continue to provide professional development for teachers in a targeted way   

• Reminder: Governance Training & Board Retreat on Feb 10 at 9am at GLOBE UC

• Completion of service by Drew and Lorena with proposed succession planning
  • Until the vote at the annual meeting in June:
    • Lillian would be acting Chair
    • Jabari would be acting Vice-Chair/Secretary
    • Adrienne would be acting Treasurer/Finance Chair
• Intent to return to the Board due by February 15
• Nominations for Board Officers due by March 15

The board discussed the proposed calendars and how they align with DCSD. 

J Clark inquired whether there would be less attendance with school ending after Memorial Day due to parents pulling students out on Memorial Day.

C Earby confirmed that GLOBE has autonomy over its calendar and offered that the board approve the 24/25 calendar and revisit the 25/26 calendar at a subsequent meeting.