This report begins with an overview of conditions that affect Nevada education and key challenges created by those conditions. It then describes a number of state and local reform activities designed to address these challenges. Within this context, findings on student achievement and graduation rates are presented -- both for students overall and for different racial, ethnic, and socioeconomic groups. Finally, the report discusses implications for state policy. The goal is to provide an accurate and contextualized look at Nevada's education picture, one that will help enable its Department of Education and key stakeholders to engage in informed dialogue around key issues, challenges, and solutions. (Includes 8 Figures, 3 Tables, 4 Appendices and 91 endnotes.)