A-1 Self Storage has committed to a $500,000 matching gift to fund the Cristo Rey Network’s new financial sustainability model. The Cristo Rey Network is comprised of 24 high schools that provide Catholic, college preparatory education to urban young people who live in communities with limited educational options.
The grant will support the implementation of the Cristo Rey Network’s shift to a diversified revenue plan by matching school-based revenue and new foundation revenue dollar for dollar up to a maximum of $500,000.
“Since the inception of the Network Center Office, 80 percent of the funding has been from two national foundations,” said Robert Birdsell, CEO for Cristo Rey Network. “The new revenue model, comprised of multiple stakeholders, is crucial for the ongoing success of the Network and our schools.”
The major change projected in the revenue model is the amount of school-based revenue the Network Center Office generates from Cristo Rey Network schools. Currently, the Network Center Office receives a minimal fee from each Network school after its third year of operation.
In three years, the Cristo Rey Network anticipates that at least 40 percent of the Network Center operations will be funded by school-based revenue and 60 percent by national and corporate foundations, college partners, individual donors, and the Network board of directors.