Founded in 2004, Horizon Science Academy—Cincinnati (HSA Cincinnati) is a nonprofit charter public school that serves 210 low-income students in grades K-8. Managed by nonprofit Concept Schools, HSA Cincinnati offers a STEM-oriented curriculum with a mission “to provide a safe and enriching learning environment where the whole student is nurtured and developed.”
HSA Cincinnati serves a student body that is 94.6% minority and 100% low-income. Yet the growing demand for its educational offerings, as shown in the schools’ enrollment increase from 175 students in 2023 to 210 in 2024, led it to seek funds for expansion. The school anticipates growth to 250 students in the 2024-25 school year, based in part on the school’s offering of multiple Career Technology Education pathways. To meet this demand cost-efficiently, HSA Cincinnati was considering purchasing a new building to realize substantial rent savings, which could be used to reinvest in operations and improvements.
To finance the purchase of their current leased facility and enable their expansion from 210 to ultimately 340 students by 2028, Charter School Finance & Development (CSFD) provided a $1,300,000 acquisition loan, leveraging an additional $300,000 provided by the school. Partners for the Common Good purchased a 50% share of the CSFD loan. This unique loan was structured as a four-year loan to mirror the school’s charter renewal term, amortizing over 15 years, with a balloon payment due at maturity. At that time, HSA Cincinnati anticipates fully repaying the loan.