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TEA questions RestoreTech on startup funding; applicants cite United Way contract and private commitments
Summary
TEA pressed Restore Education on startup funding during the capacity interview. Applicants said a five-year United Way contract will provide onsite supportive services, at least one local foundation committed initial startup dollars and several private funders are in discussions; the application projects a small operating surplus in year one and a larger surplus in year two.
TEA staff asked detailed finance questions about RestoreTech's startup and early operations, seeking clarity on funder commitments and budget assumptions.
Restore Education leaders said much of year-0 operational expense is expected to be covered by Restore Education and private funders. Kelly Rhodes told the panel the organization recently secured a five-year contract with United Way to fund supportive…
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