Carmen Schools of Science and Technology (Carmen) is a leading public charter school network of six schools across Milwaukee that serves more than 2,000 students in grades 6 through 12. Since opening their doors in 2007, Carmen has bridged the education gap in Milwaukee by providing access to high-quality public education for every child, in every neighborhood, from every background. As part of a collaborative financing effort, NFF – together with LIIF and IFF – is providing a $6 million source loan to a $66 million New Markets Tax Credit deal to finance the acquisition and construction of a new three-story, 120,000-square-foot high school campus on Milwaukee’s South Side.
Beginning in the 2026-2027 school year, two of Carmen’s high schools will unite to form one new school, housed in a facility designed for 1,100 students. NFF’s loan participation is backed by a U.S. Department of Education credit enhancement, which gives us the opportunity to provide loans to early stage, single- or multiple-site charter schools for acquisition and construction.