NC New Schools, a local education group, announced Thursday it will cease operations after 13 years of service in the classroom.
A spokesperson said the nonprofit will shut down Friday, after leaders assessed the group's financial condition.
NC New Schools is a nonprofit education group that focuses on developing high-performing schools in North Carolina and in several other states across the country. The group's aim was for students to graduate ready for the future.
According to their website, NC New Schools was in partnership with more than 180 schools and more than 2,700 educators, serving over 77,000 students nationwide.
"Cash flow challenges are not unusual in fast-growing organizations," the group said in a statement. "The NC New Schools business model of negotiating fees for services with schools, subsidized by donations and grants, ultimately proved to be unsustainable."
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Education group NC New Schools shutting down after 13 years