Tuition Tax Credit A.R.S. 43-1603 Reporting

Website Reporting Requirement

Consistent with updates to A.R.S. 43-1603 in April of 2015, all STO’s must include the percentage and dollar amount of scholarships given to students whose family income meets 185% and 342.25% of poverty level in the previous fiscal year for each type of scholarship.

Fiscal Year 24-25

Students whose family income is up to 185% of poverty level
1) Original Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 97.68%
• Amount awarded to 469 students during fiscal year 24-25 $446,690.38

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 98.02%
Amount awarded to 410 students during fiscal year 24-25: $283,990.80

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 97.40%
• Amount awarded to 695 students during fiscal year 24-25: $776,031.23

Students whose family income is 185% – 342.25% of poverty level
1) Original Tuition Tax Credit Scholarship Program:
• % Of total fiscal year scholarships awarded to these students: 2.32%
• Amount awarded to 9 students during fiscal year 24-25: $10,599.30

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 1.98%
• Amount awarded to 10 students during fiscal year 24-25: $5,750

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 2.60%
• Amount awarded to 17 students during fiscal year 24-25: $20,750.70

Fiscal Year 23-24

Students whose family income is up to 185% of poverty level
1) Original Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 97.80%
• Amount awarded to 392 students during fiscal year 23-24 $595,419.58

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 98.02%
Amount awarded to 378 students during fiscal year 23-24: $334,549.43

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 98.42%
• Amount awarded to 687 students during fiscal year 23-24: $1,127,675.75

Students whose family income is 185% – 342.25% of poverty level
1) Original Tuition Tax Credit Scholarship Program:
• % Of total fiscal year scholarships awarded to these students: 2.20%
• Amount awarded to 7 students during fiscal year 23-24: $13,369.87

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 1.98%
• Amount awarded to 4 students during fiscal year 23-24: $6,756.51

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 1.58%
• Amount awarded to 8 students during fiscal year 23-24: $18,100

Fiscal Year 22-23

Students whose family income is up to 185% of poverty level
1) Original Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 95.85%
• Amount awarded to 559 students during fiscal year 22-23 $498,078.94

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 99.17%
Amount awarded to 211 students during fiscal year 22-23: $346,819.21

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 96.96%
• Amount awarded to 675 students during fiscal year 22-23: $1,718,706.52

Students whose family income is 185% – 342.25% of poverty level
1) Original Tuition Tax Credit Scholarship Program:
• % Of total fiscal year scholarships awarded to these students: 4.15%
• Amount awarded to 12 students during fiscal year 22-23: $21,545.86

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 0.83%
• Amount awarded to 2 students during fiscal year 22-23: $2,900

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 3.04%
• Amount awarded to 17 students during fiscal year 22-23: $53,799.23

Fiscal Year 21-22

Students whose family income is up to 185% of poverty level
1) Original Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 82.50%
• Amount awarded to 253 students during fiscal year 21-22: $487,770.11

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 99.59%
Amount awarded to 140 students during fiscal year 21-22: $394,691.55

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 99.22%
• Amount awarded to 816 students during fiscal year 21-22: $1,944,758.80

Students whose family income is 185% – 342.25% of poverty level
1) Original Tuition Tax Credit Scholarship Program:
• % Of total fiscal year scholarships awarded to these students: 17.50%
• Amount awarded to twenty-nine students during fiscal year 21-22: $103,498.94

2) Overflow/PLUS Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 0.41%
• Amount awarded to one student during fiscal year 21-22: $1641.49

3) Corporate Low Income Tuition Tax Credit Scholarship Program
• % Of total fiscal year scholarships awarded to these students: 0.78%
• Amount awarded to five students during fiscal year 21-22: $15,282.51

Audited Financials

Arizona Revised Statute 43-1605, subsection A, requires every certified STO that receives over $1 million in donations to complete a financial audit conducted by an independent CPA. After the audit’s completion, Pappas Kids Schoolhouse Foundation files a signed copy with the Arizona Department of Revenue.

Pappas Kids Form 990
Our most recent Form 990, along with those from previous years, are available at GuideStar’s website.