Uplift Education gains assurance for a new bond package worth no more than $90 million. The bond package will be issued on the 19th of April 2012. The funds will be used in new school constructions, as well as renovations and expansion efforts.
The company’s CEO Yasmin Bhatia shares more about this exciting achievement in this recent e-interview with Lead411:
Who are your competitors and how are you different from them?
As a public charter school network that is focused on not only serving the students in Uplift schools but also collaborating with other educational providers for the benefit of all students in the City, we prefer to use the word “choice” versus “competition.” We believe that all families in North Texas should have great choices on where to send their child to school. By having choice, families can pick the best school for their child and it forces all educational providers to constantly raise their level of service which is good for all students. We believe Uplift is a great choice for families. Uplift Education’s model is grounded in the belief that 100% of its graduates can and will be accepted to college. We are a full K-12 continuum school district that is focused on delivering a culture of high-expectations and a rigorous academic curriculum that all drive toward scholars being prepared to be successful in college. Uplift Education is also one of the only low-income school districts that offers the International Baccalaureate program, which is traditionally found in more affluent school districts.
What percentage of your marketing budget is spent on the following?
Uplift does not have a large marketing budget.
A. Advertising – 0%
B. Social Media Marketing – Less than 1%
C. SEO – 0%
D. PR – 5%
E. Direct Marketing – 25%
F. Other –
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
Social Media Marketing through our e-newsletter, Facebook and Direct Marketing. 25%
What do you plan to spend your new funding on? Product development? Marketing?
Our bond funding is designated for new construction of schools or renovations for expansion of current schools. No bond funding is spent on marketing.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?
This is not our first round of financing. To date we have had 4 bond offerings totaling ~$83M. Getting ready for the bond market is time consuming. Uplift has a great team in place with our CFO, Bond Counsel and Financial advisors that help me with the process.
If you are the CEO, what are your biggest challenges?
My biggest challenges as CEO of Uplift are:
1) Ensuring we have the best leaders for our schools and building a human capital pipeline.
2) Finding philanthropic funding to help us start new schools.
How many employees do you have?
When were you founded?
How much did your revenue increase (if any) this year over last year?
$7.5M, however our expenses increased as well. As a nonprofit organization we don’t seek to make a profit on Uplift Education.
Want to read more on their recent funding? You can check on their press release here.