Facing new rules, a for-profit charter school company evolves
The city’s most established for-profit charter school management company is rebranding and recreating itself in light of a new law that forbids the group from running schools.
As of tomorrow, Victory Schools will be named Victory Education Partners and it will no longer be a traditional management company. The group will retain its for-profit status, but will continue to work in schools by offering a variety of services, from professional development to back-office support, that schools can choose to purchase.
The change was prompted by the passage of a new law last spring that doubled the cap on charter schools, and also barred for-profit companies from operating or managing new charter schools. One of three for-profit charter management groups work with New York City schools, Victory had to change or close shop in the city. It’s