A 12-year-old charter school serving 3,400 mostly poor students in Houston has become a favorite of billionaire donors, including Bill Gates, the Walton families, Michael Dell and John Arnold, a former Enron trader turned hedge fund manager, Forbes magazine reports.

Known by its acronym YES (for Youth Engaged in Service), the school has raised $70 million in all and got hours of managerial advice from Houston executives. School days are longer, and students must attend a summer session. They aren’t allowed to graduate and get a diploma until they are accepted to a four-year college.

Founded by Teach for America alumnus Christopher Barbic, now 39, the school says 96% of its kids passed the state achievement test last year, placing it in the state’s highest rankings; only 5% of YES grads need remedial coursework upon entering college, compared with a national average of 28%; enrollment is up 28% in a year, and 6,000 kids wait for space.

Filed under: K-12 Education News