Charter schools are non-profit 501(c)(3) organizations that have a contract or charter to provide the same educational services to students as district public schools. They are nonsectarian public schools that operate with freedom from many of the regulations that apply to traditional public schools.
The “charters” establishing such schools are performance contracts detailing the schools’ mission, program, goals, students served, methods of assessment, and ways to measure success. The length of time for which charters are granted varies, but most are granted for 3-5 years. At the end of the term, the entity granting the charter may renew the school’s contract.
Charter schools are accountable to their sponsor, usually a state or local school board, to produce positive academic results and adhere to the charter contract. The basic concept of charter schools is that they exercise increased autonomy in return for this accountability. They are accountable for both academic results and fiscal practices to several groups: the sponsor that grants them, the parents who choose them, and the public that funds them.