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Charter Institute at Erskine says it will reinvest $1.5M into I‑95 corridor expansion and math initiatives
Summary
A representative of the Charter Institute at Erskine told the committee the institute had about $1.8 million in net income and plans to reinvest roughly $1.5 million into corridor school development and a math improvement initiative that includes international partnerships and a planned summit.
A representative for the Charter Institute at Erskine summarized recent school openings and described an “Institute Success Agenda” that redirects nearly all of the institute’s net income into two priorities: expansion in the I‑95 corridor and a statewide math strategy.
The speaker said the institute reported about $1.8 million in net income for the year and the board agreed to reallocate $1.5 million to two pillars: accelerating charter openings and facilities in the I‑95 corridor and a math initiative that will bring international partners to study and recommend interventions. The speaker said the math work will include “an international summit” later this year and a phase 2 action plan.
The institute representative reported openings and pipeline activity: a newly opened school in Orangeburg with about 300 students, a Liberty’s Academy campus that opened with 800 students and a waiting list, and plans to open schools in Florence, Lake City, Sumter, Darlington, Walterboro and others. The speaker said the institute currently counts about 2,900 virtual students in the corridor and roughly 1,700 brick‑and‑mortar students there, with “an additional 3,150” students in the pipeline from already‑approved schools.
On governance and oversight, the institute noted it had provided extensive records to the state Legislative Audit Council in December and said it supports the audit process. The representative also said the institute will not actively seek to authorize unsatisfactory schools and described a practical policy of not taking underperforming schools from other authorizers, although no formal statewide prohibition was stated.
The institute said it holds a TEDx license and highlighted plans to convene leaders for content and school supports; it also said it plans targeted investments in facilities financing and performance‑based compensation pilots for math outcomes.
Ending: Committee members asked clarifying questions about student counts and the institute’s training and oversight programs; staff members requested follow‑up documentation on applications and the institute’s incubator work in the corridor.
