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 poverty level in the previous fiscal year for each type of scholarship.
2021/22 School Year Scholarship Award Report:
"Original" Tuition Tax Credit Scholarships Awarded in 2021/22 :
- 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 Awarded in 2021/22:
- 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 Awarded in 2021/22:
- 46.40% ($157,827) 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 Awarded in 2021/22:
- 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.