Arizonas Catholic Tuition Support Organization
- Assets
- $21.0m
- Revenue
- $11.7m
- Investments
- $774.5k
- Employees
- 5
- Location
- Tucson, AZ
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 86-0958969
Organization Overview
Arizonas Catholic Tuition Support Organization is located in Tucson, AZ. The organization was established in 1946. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Arizonas Catholic Tuition Support Organization employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Arizonas Catholic Tuition Support Organization 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 06/2023, Arizonas Catholic Tuition Support Organization generated $11.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $11.2m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
QUALIFIED SCHOOL TUITION ORG. WHO ACCEPTS TAX CREDIT CONTRIBUTIONS FOR TUITION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIVIDUAL TAX CREDIT SCHOLARSHIP PROGRAM - THE ARIZONA INDIVIDUAL TAX CREDIT PROGRAM ALLOWS TAXPAYERS TO DIRECT THEIR TAX LIABILITY TO HELP CHILDREN ATTEND A SCHOOL OF THEIR CHOICE. CTSO PROVIDES SCHOLARSHIPS TO STUDENTS FROM FAMILIES WITH FINANCIAL NEED. 90% OF THE SCHOLARSHIPS ARE AWARDED BASED ON VERFIED FINANCIAL NEED, 38% ARE FROM SINGLE PARENT FAMILIES, AND 90% REPRESENTS A DIVERSITY OF DEMOGRAPHICS. HISPANIC, NATIVE AMERICAN, ASIAN, AFRICAN AMERICAN, AND MULTI-RACIAL STUDENTS' SCHOLARSHIPS ARE AWARDED REGARDLESS OF RACE, CREED, GENDER, AND ETHNICITY, ETC.
CORPORATE TAX CREDIT SCHOLARSHIP PROGRAM - THE ARIZONA CORPORATE TAX CREDIT PROGRAM ALLOWS CORPORATIONS TO DIRECT A CONTRIBUTION TO A QUALIFIED SCHOOL TUITION ORGANIZATION AND, AT THE SAME TIME, RECEIVE A DOLLAR-FOR-DOLLAR CREDIT ON THEIR ARIZONA STATE TAX LIABILITY. SCHOLARSHIPS ARE ONLY AWARDED TO CHILDREN WHOSE FAMILY INCOME DOES NOT EXCEED THE CORPORATE TAX CREDIT INCOME LIMITS AND MEETS THE GUIDELINES AS DETERMINED BY THE STATE OF ARIZONA CORPORATE TAX CREDIT BILL. SCHOLARSHIPS ARE AWARDED REGARDLESS OF RACE, CREED, GENDER, AND ETHNICITY, ETC. 100% OF THE SCHOLARSHIPS ARE LOW-INCOME SCHOLARSHIPS.
DISABLED/DISPLACED CORPORATE SCHOLARSHIPS WILL BE AWARDED TO CHILDREN WHO HAVE AN INDIVIDUAL EDUCATION PLAN (IEP) OR A 504 PLAN FROM AN ARIZONA PUBLIC SCHOOL OR WAS AT ONE POINT PLACED IN THE ARIZONA FOSTER CARE SYSTEM, AND WHO MEET THE GUIDELINES AS DETERMINED BY THE STATE OF ARIZONA. CTSO WILL AWARDS SCHOLARSHIPS TO STUDENTS ATTENDING ANY QUALIFIED PRIVATE SCHOOL IN THE STATE OF ARIZONA. SCHOLARSHIPS ARE AWARDED REGARDLESS OF RACE, CREED, GENDER, AND ETHNICITY, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gracie Quiroz Marum CEO | Officer | 40 | $117,924 |
Angelle Casagrande Director | Trustee | 1 | $0 |
Rev Patrick Crino Director | Trustee | 1 | $0 |
Robert Huber Director | Trustee | 1 | $0 |
Robert Lloyd Director | Trustee | 1 | $0 |
Rev Msgr John Lyons Director | Trustee | 1 | $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 | $11,574,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,574,789 |
| Total Program Service Revenue | $0 |
| Investment income | $107,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,688,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,400,391 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,948 |
| Compensation of current officers, directors, key employees. | $33,987 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,846 |
| Pension plan accruals and contributions | $10,490 |
| Other employee benefits | $23,109 |
| Payroll taxes | $17,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,480 |
| Fees for services: Other | $24,367 |
| Advertising and promotion | $65,225 |
| Office expenses | $67,781 |
| Information technology | $52,676 |
| Royalties | $0 |
| Occupancy | $44,000 |
| Travel | $3,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,938 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,997 |
| Insurance | $2,000 |
| All other expenses | $0 |
| Total functional expenses | $11,168,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,089,226 |
| Savings and temporary cash investments | $13,020,135 |
| 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 | $73,335 |
| Net Land, buildings, and equipment | $6,996 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $774,469 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,964,161 |
| Accounts payable and accrued expenses | $29,927 |
| 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 | $29,927 |
| Net assets without donor restrictions | $20,934,234 |
| 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 | $20,964,161 |
Grants Awarded
Over the last fiscal year, Arizonas Catholic Tuition Support Organization has awarded $9,415,488 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
IMMACULATE HEART HIGH ACADEMY PURPOSE: TUITION SCHOLARSHIPS | $352,581 |
ALL SAINTS CATHOLIC SCHOOL PURPOSE: TUITION SCHOLARSHIPS | $306,140 |
IMMACULATE CONCEPTION SCHOOL PURPOSE: TUITION SCHOLARSHIPS | $151,849 |
LORETTO CATHOLIC SCHOOL PURPOSE: TUITION SCHOLARSHIPS | $250,108 |
LOURDES CATHOLIC SCHOOL PURPOSE: TUITION SCHOLARSHIPS | $218,389 |
OUR MOTHER OF SORROWS CATHOLIC PURPOSE: TUITION SCHOLARSHIPS | $311,479 |