What is a charter?
The “charter” is a performance contract that an organizer (as defined in the Indiana charter school law I.C. 20-5.5) enters into with a sponsor, such as the Mayor, a public university, or a local school corporation, that explains what the school will attempt to accomplish, how student performance will be measured and what level of achievement it will attain. An organizer that fails to comply with the terms of its charter may have its charter revoked.
The “charter” is a performance contract that a “founder” enters into with a “chartering authority” that explains what the school will attempt to accomplish, how student performance will be measured and what level of achievement it will attain. In NJ, the schools’ charters are comprehensively reviewed and renewed by the NJ Department of Education after an initial four-year period and in successive five-year periods thereafter. In the interim, charter schools are subject to annual financial audits, annual reporting requirements and periodic program reviews. If a charter school fails to meet the objectives outlined in its charter or fails to comply with the state’s education standards, the school may have its charter revoked and close.
