The board voted Monday to accept $100,000 from Mississippi Common Fund Foundation and $25,500 from Mississippi First Inc.
A law passed earlier this year expands authority to create charter schools – public schools run by private groups that meet certain standards.
Money has been a key issue as the board moves ahead with efforts to hire an executive director.
Lawmakers didn’t appropriate any cash, envisioning that donors would pay startup costs. The board will collect a fee of 3 percent of state aid from schools once they open, but that might not happen until August 2015.