Southern Bancorp
KIPP Delta College Preparatory School, Helena, AK
In 2005, the largest school district in Phillips County, Arkansas, went through five superintendents and had a projected budget deficit of $2.26 million. Not surprisingly, the district had a graduation rate of only 54 percent and was undermining the county’s revitalization prospects by failing to provide a workforce that could compete in today’s economy.
One organization working to reverse the decline in education in Phillips County is the KIPP Delta College Preparatory School. And it has found a highly effective ally in Southern Bancorp of Arkadelphia.
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KIPP Delta was founded in 2002 on the premise that education and high expectations can help children to overcome the obstacles created by race, economics, and environment. It is affiliated with the KIPP (Knowledge Is Power Program) Foundation of San Francisco, California. Currently, 57 KIPP schools operate in 17 states and the District of Columbia, serving more than 14,000 students.
When KIPP Delta opened, it had just three classrooms and served only 65 fifth-graders. The school continued to add one grade level each year and by its third year was ready for a larger facility. It was a project that Southern Bancorp was eager to take on.
Founded in 1986 to help end decades of economic decline in the rural South by investing in people, jobs, business, and property, Southern Bancorp has evolved into the largest and most profitable rural development banking organization in the United States. With $550 million in assets, 40 locations in rural Arkansas and Mississippi, and more than 250 employees, the organization has the physical presence, infrastructure, and capacity to drive regional change.
With a $1.15 million loan from Southern Bancorp, combined with a $1.15 million U.S. Department of Agriculture direct loan, KIPP Delta built a new school with 11 classrooms, office space, and a multipurpose area. It was the first new construction in Helena in 10 years.
Today the school serves 315 students in grades 5 through 10 and has achieved astonishing results in the classroom. The first class increased its median score on standardized testing from the 18th to the 82nd percentile in four years, and successive classes have shown similarly dramatic improvements. A recent column in the Wall Street Journal called KIPP Delta “one of the best schools in Arkansas, maybe the South.”
“We view our relationship to Southern Bancorp as a key factor to our growth, development, and success,” says Scott Shirey, Director and founder of KIPP Delta.
