irs program accomplishments · form 990 part iii · fy2021
what they reported doing
Program narrative the organization filed with the IRS. Ordered by program spending.
- #1 primary $12.06MORGANIZATION AWARDED GRANT/SCHOLARSHIPS TO OVER 4,250 STUDENTS DURING PERIOD ENDING JUNE 30, 2022 PURSUANT TO THE OVERFLOW/PLUS (SWITCHER) TUITION TAX CREDIT LAW, A.R.S. 43-1089.03 THAT WAS ENACTED IN 2012. THE GRANT AMOUNT LISTED IS A NET AMOUNT OF THE FISCAL YEAR INCLUDING SCHOLARSHIPS AWARDED, UNUSED SCHOLARSHIPS RETURNED, AND MULTI-YEAR SCHOLARSHIPS RETAINED BY THE ORGANIZATION TO FORWARD TO THE STUDENT'S SCHOOL WHEN TUITION COMES DUE.
- #2 $0THE ORGANIZATION RECEIVED 615,268 IN UNSOLICITED DONATIONS PRIMARILY THROUGH MATCHING GIFT PROGRAMS AND FROM DONATIONS IN EXCESS OF THE AMOUNT ALLOWABLE UNDER TUITION TAX CREDIT LAWS A.R.S. 43-1089 AND A.R.S. 43-1089.03. THESE DONATIONS DO NOT QUALIFY FOR AN ARIZONA STATE INCOME TAX CREDIT. THE ORGANIZATION ADDED THESE FUNDS TO THOSE USED IN 4A ABOVE TO AWARD SCHOLARSHIPS PURSUANT TO A.R.S. 43-1089.
named programs · 2 · from sources
what they call their work
Original Tuition Tax Credit Scholarship Program
Provides tuition scholarships to students based on donations received under Arizona's original tax credit law.
Overflow Tuition Tax Credit Scholarship Program
Provides tuition scholarships to students based on donations received under Arizona's overflow/PLUS/switcher tax credit law.
activities · 4 clusters
what they do
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Private School Tuition Tax Credit Scholarships 3 activities
- Administer tuition tax credit scholarships for students attending Christian schoolsOperates as a tax credit scholarship organization that transforms dollar-for-dollar tax credit donations from Arizona taxpayers into tuition scholarships for students attending Christian schools. Since 1998, has awarded over $370 million in scholarships to 50,500 students across Arizona.
- Facilitate taxpayer donations through Arizona’s dollar-for-dollar tax credit programEnables Arizona taxpayers to redirect their state income tax liability to support scholarships by facilitating donations to the Arizona Christian School Tuition Organization (ACSTO). Has helped over 108,000 taxpayers utilize the tax credit.
- Providing Christian School Tuition ScholarshipsTransforms dollar-for-dollar tax credit donations from Arizona taxpayers into tuition scholarships for children to attend Christian Schools, having awarded over $370 million to 50,500 students since 1998. The organization awards 92% of all donations as scholarships, with specific allocations for students at various income levels.
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Education Funding & School Choice Advocacy 2 activities
- Advocate for educational freedom and school choice policiesEngages in advocacy efforts with policymakers and school choice advocates to promote parental rights in education. Prevailed in the U.S. Supreme Court case ACSTO v. Winn (2011), securing a favorable ruling on the constitutionality of tax credit scholarship programs.
- Advocating for School Choice and Educational FreedomEngages with policymakers and school choice advocates to promote educational freedom for parents, and successfully defended its tax credit scholarship program in the U.S. Supreme Court case ACSTO v. Winn in 2011.
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Inclusive Education Grants for Students with Disabilities 1 activity
- Operating as a School Tuition OrganizationCo-founded the Arizona Christian School Tuition Organization (ACSTO) in 1998, establishing the first tax credit scholarship organization of its kind.
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Uncategorized 1 activity
- Ensure fiscal accountability and transparency in operationsFiles audited financial statements with the Arizona Department of Revenue and maintains high standards of fiscal management, as recognized by a 4-out-of-4 star rating from Charity Navigator.
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financials · form 990 · fy2021
the money
revenue
Total revenue$31.85M
Contributions & grants$31.83M100%
Program service revenue$00%
Investment income$24K0%
Other revenue$0
expenses
Total expenses$31.76M
Program expenses93%
Admin / overhead5%
Fundraising2%
Salaries & benefits$381K
Grants paid out$28.84M
Largest expense lineProfessional Fees
balance sheet
Total assets$20.54M
Cash$19.38M
Investments$1.06M
Liabilities$0
Net assets$20.54M
Liquid reserves7.7 mo
2 years on record · 2019–2021 · YoY revenue +34.4%
leadership · form 990 part vii · fy2021
who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| STEVEN B YARBROUGH | EXECUTIVE DI | 40 | $120K |
board members · 5
- BARB BARNES — DIRECTOR
- BARBARA J SAUNDERS — SECRETARY/TR
- BARRY BARNES — DIRECTOR
- FRED MEYERS — DIRECTOR
- SCOTT R SAUNDERS — VICE PRESIDE
relationships · 22
who they work with
- Alliance Defending Freedom Partner — Defended the tax credit program with ACSTO during litigation.
- Alliance Defending Freedom (ADF) Partner — Represented ACSTO in the ACSTO v. Winn litigation at the U.S. Supreme Court.
- American Federation for Children Partner — Listed as a supporting organization that promotes educational choice and innovation.
- Arizona Christian Education Coalition (AZCEC) Partner — Listed as a supporting organization that works to preserve the freedom of parents to choose and access Christian education.
- Arizona Department of Revenue Government — Files signed copies of financial audits with the department.
- Arizona Department of Revenue Government — Oversees the Private School Tax Credits and publishes an STO operation manual and statewide financial reports.
- Arizona Department of Revenue (ADOR) Government — Certified by ADOR to process tax credit donations for tuition scholarships, as required by A.R.S. 43-1602 and 43-1603.
- Arizona School Tuition Organization Association (ASTOA) Partner — Listed as a supporting organization that provides a unified voice for Arizona's School Tuition Organizations (STOs).
- Arizona State Legislature Government — Provides the state laws (Arizona Revised Statutes, Title 43) under which the Private School Tax Credits exist.
- Cato Institute Partner — Listed as a supporting organization that provides analysis on education reform favoring parental choice.
- Center for Arizona Policy (CAP) Partner — Listed as a supporting advocacy organization that defends policies geared toward religious and educational liberty in Arizona.
- Charity Navigator Partner — Received a 4-out-of-4 star rating from Charity Navigator.
- Council for American Private Education (CAPE) Partner — Listed as a supporting organization that is a coalition of national organizations and state affiliates serving private elementary and secondary schools.
- EdChoice Partner — Listed as a supporting organization dedicated to advancing educational choice.
- Goldwater Institute Partner — Listed as a supporting organization that defends educational freedoms.
- GuideStar Partner — Makes Form 990s available on GuideStar's website.
- Heartland Institute Partner — Listed as a supporting organization that promotes free-market solutions for American education.
- Heritage Foundation Partner — Listed as a supporting organization that advances conservative principles including school choice.
- Institute for Justice Partner — Defended the tax credit program with ACSTO during litigation.
- Institute for Justice (IJ) Partner — Supported ACSTO and Arizona's tax credit program in its early years of litigation.
- National School Choice Week Partner — Listed as a supporting organization that raises public awareness of K-12 education options.
- School Choice Arizona Partner — Sister organization of ACSTO, co-founded by Steve Yarbrough.