Financial Report

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In compliance with the Arizona Revised Statute A.R.S. 43-1603, all School Tuition Organizations (STOs) are required to publish the dollar amount and percentage of scholarships awarded to students whose household income cap meets 185% and 342.25% of the poverty level in the previous fiscal year for each type of scholarship.

 

2021/22 School Year Scholarship Award Report:

 

"Original" Tuition Tax Credit Scholarships:

  • 10.82% ($24,099.49) scholarships were awarded to students with family income up to 185% of the poverty level
  • 12.21% ($27,186.73) scholarships were awarded to students with a family income of 185% to 342.25% of the poverty level

 

"Switcher/ Overflow" Tuition Tax Credit Scholarships:

  • 9.35% ($14,155.91) scholarships were awarded to students with family income up to 185% of the poverty level
  • 11.14% ($17,270.68) scholarships were awarded to students with a family income of 185% to 342.25% of the poverty level

 

"Corporate Low-Income" Tuition Tax Credit Scholarships:

  • 46.40% ($157,827) of scholarships were awarded to students with family income up to 185% of the poverty level
  • 53.60% ($182,315.50) scholarships were awarded to students with a family income of 185% to 342.25% of the poverty level

 

"Corporate Disabled/ Displaced " Tuition Tax Credit Scholarships:

  • 0% scholarships were awarded to students with family income up to 185% and/or 185% to 342.25% of the poverty level

Audited Financials

Arizona Revised Statute A.R.S. 43-1603 Subsection A requires every certified STO which receives over one million dollars in donations to complete a financial audit conducted by an independent CPA.

Form 990 is available by email request.