Arizona Private Education Scholarship Fund Inc
- Assets
- $7.0m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Scottsdale, AZ
- Founding
- 07/1999
- Data as of
- 06/2024
- EIN
- 86-0958161
Organization Overview
Arizona Private Education Scholarship Fund Inc is located in Scottsdale, AZ. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2024, Arizona Private Education Scholarship Fund Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arizona Private Education Scholarship Fund Inc 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 06/2024, Arizona Private Education Scholarship Fund Inc generated $7.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $5.7m during the year ending 06/2024. While expenses have increased by 0.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND (APESF) IS A DEDICATED AND ACTIVE PARTNER OF SCHOOL-CHOICE IN THE STATE OF ARIZONA. OUR PRIMARY MISSION IS TO ADVANCE SCHOOL-CHOICE BY PROVIDING FINANCIAL SUPPORT, THROUGH TUITION SCHOLARSHIPS, TO QUALIFIED STUDENTS ATTENDING PRIVATE ARIZONA K-12 SCHOOLS. APESF IS CERTIFIED BY THE ARIZONA DEPARTMENT OF REVENUE AS A SCHOOL TUITION ORGANIZATION PURSUANT TO ARS SECTION 43-1089. APESF UTILIZES STATE TAX CREDIT AND GENERAL DONATION REVENUES TO FULFILL ITS MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2023-2024, PAID OUT SCHOLARSHIPS TO 1,323 ELIGIBLE K-12TH GRADE LEVEL STUDENTS ATTENDING ACCREDITED PRIVATE SCHOOLS THROUGHOUT THE STATE OF ARIZONA.
GRANTS ARE MADE TO SUPPORT YOUTH AND YOUTH PROGRAMS. BEYOND THE BOOKS GRANTS ARE MADE TO HELP LOW-INCOME OR AT-RISK ARIZONA STUDENTS TO HELP OFFSET THE ADDITIONAL COSTS OF PRIVATE SCHOOL EXTRACURRICULAR ACTIVITIES, TECHNOLOGY/TEXTBOOKS, SPORTS, GRADUATION, FIELD TRIPS, UNIFORMS, LEARNING SERVICES AND MORE. DURING THE 2023-2024 FISCAL YEAR, GRANTS WERE MADE TO BENEFIT 27 STUDENTS AT THREE ARIZONA PRIVATE SCHOOLS. IN ADDITION, THE ORGANIZATION AWARDED GRANTS TOTALING $8,000 WERE MADE TO FOUR NONPROFIT ORGANIZATIONS TO SUPPORT PROGRAMS BENEFITTING ARIZONA YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Cox Director (end 3/2023) | Trustee | 0.5 | $0 |
Derek Bohlen Director | Trustee | 0.5 | $0 |
Lisa Moerkerke Pipher Director | Trustee | 0.5 | $0 |
Shannon Mitchell Director (begin 5/2024) | Trustee | 2 | $0 |
Todd Baughman Director (begin 5/2024) | Trustee | 2 | $0 |
Stephen Motte Treasurer (begin 2/2024) | OfficerTrustee | 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 | $6,937,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,937,139 |
| Total Program Service Revenue | $0 |
| Investment income | $197,646 |
| 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 | $7,134,785 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,000 |
| Grants and other assistance to domestic individuals. | $4,992,184 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $113,173 |
| Compensation of current officers, directors, key employees. | $11,317 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,856 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,836 |
| Payroll taxes | $16,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,544 |
| Fees for services: Accounting | $24,677 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,359 |
| Advertising and promotion | $25,010 |
| Office expenses | $18,034 |
| Information technology | $54,509 |
| Royalties | $0 |
| Occupancy | $40,436 |
| Travel | $1,060 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,173 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,926 |
| Insurance | $6,857 |
| All other expenses | $88,706 |
| Total functional expenses | $5,691,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,992 |
| Savings and temporary cash investments | $6,608,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $341,397 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,983,330 |
| 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 | $2,747 |
| Total liabilities | $2,747 |
| Net assets without donor restrictions | $6,980,583 |
| Net assets with donor restrictions | $0 |
| 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 | $6,983,330 |
Grants Awarded
Over the last fiscal year, Arizona Private Education Scholarship Fund Inc has awarded $11,830 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FAMILY EDUCATION PURPOSE: GENERAL GRANT | $6,000 |
TEEN CHALLENGE PURPOSE: TO PROVIDE FUNDS FOR STUDENT BACKPACKS/SUPPLIES AND FUNDRAISING EVENTS. | $5,830 |