This study capitalizes on the performance identification system under the No Child Left Behind waivers to estimate the school-level impact of just missing formal state recognition as a high-performing school. Using a fuzzy regression-discontinuity design and data from the early years of waiver implementation in Rhode Island, we find that, when schools that just missed achieving status as a high-performing school (i.e., leading) were located in districts with a large proportion of schools achieving this status, they performed better in subsequent years. Alternatively, when similar schools were in districts with few leading schools, we find no effects.