Not exact matches
The
academy conversion model (initially common in schools in special measures, known as «
sponsor»
academies) is now chosen by many good / outstanding schools (known as «convertor»
academies) as it turns a school into an independent business (not for profit) that
receives funding directly from central government instead of a local authority.
Under Labour,
academies had to have
sponsors - who invested up to # 2m in return for
receiving state funding directly from central government.
One last comment, as I understand it when a community school becomes an
academy then if it is a
sponsored conversion (e.g. because the school is failing and deemed to require substantial investment to turn it around) then the
sponsoring MAT
receives additional funding.
-LRB-...) Among the first two schools to express an interest in the Charter Institute at Erskine are S.C. Virtual Charter School and Cyber
Academy of South Carolina, a pair of online schools that
received a warning this spring that their current
sponsor might revoke their charters due to years of poor performance that lagged far behind state averages.