The state of Arizona requires that STOs meet the following requirements.
Per the Arizona Department of Revenue: “The STO…

1. must allocate at least 90% of its annual contributions to scholarships;

2. shall not limit the availability of scholarships to students of one school;

3. may allow donors to recommend student beneficiaries but shall not award, designate or reserve scholarships solely on the basis of donor recommendations;

4. shall not allow donors to designate student beneficiaries as a condition of any contribution to the organization;

5. shall not facilitate, encourage or knowingly permit the exchange of student beneficiary designations (swapping);

6. shall include on the organization’s website, if one exists, the percentage of the total dollar amount of educations scholarships and tuition grants awarded during the previous fiscal year to (a) students whose family income is up to 185% of poverty level and (b) students whose family income is greater than 185% of poverty level but not more than 342.24% of poverty level. (See below for SFF’s most recent fiscal year’s detail);

7. must not award scholarships to students who are simultaneously enrolled in a district school or charter school and a qualified school;

8. shall follow all other statutory requirements in A.R.S. 43-1089 or Title 43, Chapter 16. “ This includes annual Arizona Department of Revenue STO reporting criteria and annual audit procedures by an independent accounting firm.

SFF reports the following for the Original and PLUS/Overflow Tax Credit Programs for the 2021-22 fiscal year. (As described in item 6 above.)

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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: 2.69%

• Amount awarded to these students during fiscal year 21-22: $1,250

2) Switcher Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 0%

• Amount awarded to these students during fiscal year 21-22: $0

3) Corporate Low Income Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 77.02%

• Amount awarded to these students during fiscal year 21-22: $77,903

4) Disabled Displaced Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 0%

• Amount awarded to these students during fiscal year 21-22: $0

Students whose family income is 185-342% of poverty level 

1) Original Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 25.31%

• Amount awarded to these students during fiscal year 21-22: $11,774

2) Switcher Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 42.86%

• Amount awarded to these students during fiscal year 21-22: $9,000

3) Corporate Low Income Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 22.74%

• Amount awarded to these students during fiscal year 21-22: $23,000

4) Disabled Displaced Tuition Tax Credit Scholarship Program

• % of total fiscal year scholarships awarded to these students: 0%

• Amount awarded to these students during fiscal year 21-22: $0