The Drexel Fund invests to create new, financially sustainable schools serving low-income students in any state with publicly funded private school choice. Investments are concentrated in nine target states that provide the most advantageous environment for high-quality, financially sustainable, private schools — Arizona, Florida, Indiana, Iowa, Louisiana, North Carolina, Ohio, Tennessee and Wisconsin — and seven opportunity states that show promise for school growth depending on a school’s model — Alabama, Arkansas, Georgia, New Hampshire, Oklahoma, Utah and West Virginia.