Summit School of Ahwatukee
In 2001, Eric Crown, Tim Crown and William Andrew, created a 501(c)(3) (not for profit) community school serving Phoenix. They founded this organization after Tessearact Schools (a public company with over 40 schools nationwide) declared bankruptcy. Eric and Tim created an organization which became the debtor in possession (DIP). It provided financing for Tesseract in an attempt to ensure that no school closed during Tesseract's liquidation process. Eric and Tim Crown were ultimately able to purchase fixed assets and learning materials from the bankruptcy trustee. They then purchased the school building and property from a REIT. At this point, the Summit School of Ahwatukee began, and it initially enrolled 50 students. It has now grown in size and it teaches 500 students (Pre-K through 8th Grade). The school's mission is to "foster academic excellence and the love of learning through a liberal arts education". Now, Eric and Tim Crown are on the Board of Trustees of the organization.
Read more about this topic: Eric Crown
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