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These results are supportive of our hypothesis that independent and non-instrumentality charters are<br />

<strong>better</strong> stewards of taxpayer money. Of the top 15 schools in WKCE efficiency, 9 are independent<br />

or non-instrumentality charters. Public schools perform somewhat more competitively on the<br />

Badger Exam, but independent and non-instrumentalities still hold a disproportionate share of the top<br />

fifteen spots. Despite representing less than 15% of schools in our sample, independent charter and<br />

non-instrumentality charters hold down 53% of the top 15 spots on the Badger Exam.<br />

Recognizing that poverty is an important predictor of educational <strong>outcomes</strong>, Table 2 presents the top<br />

15 schools in Milwaukee where more than 80% of students receive free-or-reduced lunch. 19 This<br />

sample is a bit more MPS dominated, with few instrumentality charters and slightly fewer independent<br />

charters. Figure 2 provides a pie-chart of this smaller sample.<br />

Similar to the pattern identified in Table 2, we see that instrumentality and non-instrumentality schools<br />

represent a much larger share of the top 15 than their share of schools in our sample. 73% of the top<br />

15 on the WKCE and 53% of the top 15 on the Badger Exam are independent or non-instrumentality<br />

charter schools. That said, several public schools, such as Curtin Elementary, rank relatively high on<br />

the list, and ALBA is a strong representative for instrumentality charters.<br />

Bang for the Buck<br />

11

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