Texas charter school districts (CSDs) are accredited and monitored by the Texas Education Agency (TEA) utilizing the various components within the state accountability systems for both state and federal requirements. Yet, Texas CSDs are believed to operate with few regulatory restrictions on administrative, instructional, and pedagogical methods. Texas independent school districts (ISDs) and charter school districts are subject to some TEA-required administrative, instructional, and pedagogical standards. Despite these commonalities, to-date no independent fiscal analysis of ISD-CSD revenue distributions has been conducted. As such, the purpose of this article is to conduct comparative analyses of revenues generated from the Texas Foundation School Program (FSP) for ISDs and CSDs. As part of this analysis, Texas funding formula components for ISDs and CSDs were analyzed to assess and compare overall revenue generation levels, levels of equity exhibited by revenue distributions, and demographic and financial data. (Contains 7 tables and 10 endnotes.)