As a private voucher school serving primarily low-income African American students in grades K3 – 8th, St. Marcus Lutheran School needs to raise annually approximately 20% of its operating costs per student just to make ends meet. With a perpetual waiting list, St. Marcus is always looking to expand to reach more families. Capital costs for expansion facilities and related financing costs add to the need to raise additiional funds, and strain St. Marcus’ support network. NMTC financing provides some badly needed funding at reasonable costs to bridge the gap between capital commitments St. Marcus’ receives and the installment payments associated with those commitments. Without NMTC financing, St. Marcus would not have been in a position to fund its most recent expansion, which will increase its enrollment by two-thirds (from 900 to 1,500). That expansion not only will serve more students and their families, but also will provide additional, badly needed family sustaining jobs in the community.
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