Indira Duggirala
Board Member
Indira Duggirala is the 1st Vice Chair of the Colorado Democratic Party , chair of the CDP’s State Outreach Commission and co-chair of South Asian Democrats of Colorado (COSAD) initiative. She is a political and community leader focused on engaging South Asians in the civic and political process. She worked with her local county democratic party and eventually joined They See Blue a national South Asian group to help elect democrats in the 2020 elections. Prior to entering politics, Indira worked in software development for 15 years. She is a mother of two and lives with her husband Ravi in Highlands Ranch, Colorado.
The National Association of Health and Educational Facilities Finance Authorities (NAHEFFA)
Charter Schools
Colorado League of Charter Schools
National Alliance of Public Charter Schools
Colorado Charter School Institute
Colorado Department of Education – Schools of Choice Unit
Cultural Organizations
CBCA – Colorado Business Committee for the Arts
SCFD – Scientific and Cultural Facilities District (metro area)
Colorado State Historical Fund
United States Olympic Committee
Private K-12
Colorado Association of Independent Schools
National Association of Independent Schools
Higher Education
We help both relatively new charter schools and well-established schools borrow money at low interest rates. Typically, a school that has been in existence three years and has at least 300 students can issue bonds through CECFA. In special circumstances, we have even financed start-up charter schools.
State statutes have created two mechanisms that help charter schools borrowing through CECFA obtain lower interest rates:
Intercept Program. This program encourages investors to buy charter school bonds by assuring that State funds are used first for debt service. The “debt service intercept program,” allows a charter school to direct the State Treasurer to withhold State per pupil payments (“intercept”) in the amount needed to pay debt service on the bonds and to pay that money directly to the trustee for the bondholders.
Click here for more information from the Colorado State Treasurer on this program: https://www.colorado.gov/pacific/treasury/school-district-intercept-program
Moral Obligation Program. For more mature schools with a consistent track record of fiscal soundness, the State will provide its “moral obligation” to repay the bonds, which substantially increases investors’ confidence that the bonds will be repaid and therefore lowers the interest rate the school pays. To qualify for the Moral Obligation Program, the school must be given an “investment grade” rating by one of the national bond rating agencies and be approved by the State Treasurer. Over the lifetime of this program, CECFA estimates participating schools have saved over $100 Million in interest payments.
Click here for more information from the Colorado State Treasurer on this program:
https://www.colorado.gov/pacific/treasury/charter-school-intercept-and-moral-obligation
When planning a capital project, most nonprofits turn to a traditional capital campaign. However, using debt as part of your plan of finance should always be considered.
While many nonprofits find the prospect of debt daunting, tax-exempt financing can actually support your organization’s long-term growth and financial footing, as it:
Whether you need to fund a new cultural or educational building or to refinance an existing loan, click here to learn more about our application process.
