Private School Tuition Fund 123
- Assets
- $748.8k
- Revenue
- $855.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 03/2017
- Data as of
- 06/2022
- EIN
- 81-5435928
Organization Overview
Private School Tuition Fund 123 is located in Phoenix, AZ. The organization was established in 2017. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Private School Tuition Fund 123 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Private School Tuition Fund 123 generated $855.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 72.2% each year . All expenses for the organization totaled $378.4k during the year ending 06/2022. While expenses have increased by 28.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE SCHOOL TUITION FUND 123 IS A SCHOOL TUITION ORGANIZATION AS DEFINED IN ARIZONA REVISED STATUTE 43-1089, AND AS SUCH, MUST ALLOCATE AT LEAST 90 PERCENT OF ITS QUALIFYING ANNUAL REVENUE FOR EDUCATIONAL SCHOLARSHIPS OR TUITION GRANTS. THE ORGANIZATION STRIVES TO ENSURE AFFORDABLE PRIVATE SCHOOL EDUCATION FOR ALL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE SCHOOL TUITION FUND 123 AWARDS SCHOLARSHIPS TO STUDENTS TO HELP FOR TUITION AT APPROVED PRIVATE SCHOOLS IN ACCORDANCE WITH THE INDIVIDUAL AND CORPORATE TAX CREDIT PROGRAMS IN THE STATE OF ARIZONA BASED ON THE APPLICANTS FINANCIAL NEEDS AND THE FUNDS AVAILABLE FOR DISTRIBUTIONS. FOR THE TWELVE MONTH PERIOD ENDED JUNE 30, 2022, PRIVATE SCHOOL TUITION FUNDS 123 PROVIDED 119 SCHOLARSHIPS TO 11 PRIVATE SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany Seidemann President & CEO | OfficerTrustee | 20 | $5,000 |
Leah Kelley Director | Trustee | 2 | $0 |
Rena Garcia Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $855,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $855,053 |
| Total Program Service Revenue | $0 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $855,058 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $319,249 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $23,500 |
| Compensation of current officers, directors, key employees. | $2,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,500 |
| Advertising and promotion | $3,867 |
| Office expenses | $2,376 |
| Information technology | $640 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $378,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $718,934 |
| Savings and temporary cash investments | $26,503 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,358 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $748,795 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $38,553 |
| Net assets with donor restrictions | $710,242 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $748,795 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles And Helen Schwab Foundation San Francisco, CA | $691,573,201 | $120,025,754 |
Hispanic Scholarship Fund Gardena, CA | $152,619,685 | $60,036,131 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
College Track Oakland, CA | $64,375,720 | $27,539,542 |
Business For Social Responsibility San Francisco, CA | $23,283,625 | $33,746,077 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Mcconnell Foundation Redding, CA | $0 | $21,867,294 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |