Financial Reports

ARS 43-1603 Reporting Requirements

Arizona Revised Statute 43-1603 requires School Tuition Organizations (STO’s) to publish the dollar amount and percentage of scholarships awarded to students during the previous fiscal year whose household income falls into one of two brackets: below 185% of poverty level, and between 185% and 342.25% of poverty level.




Students with family income is up to 185% of poverty level

Original Tuition Tax Credit Scholarship Program

% of total fiscal year scholarships awarded to these students: 21%

Amount awarded to these students during fiscal year 15–16: $2,142,604

Overflow/PLUS Tuition Tax Credit Scholarship Program

% of total fiscal year scholarships awarded to these students: 30%

Amount awarded to these students during fiscal year 15–16: $1,564,832

Students with family income is 185%–342.25% of poverty level

Original Tuition Tax Credit Scholarship Program:

% of total fiscal year scholarships awarded to these students: 30%

Amount awarded to these students during fiscal year 15–16: $3,069,211

Overflow/PLUS Tuition Tax Credit Scholarship Program

% of total fiscal year scholarships awarded to these students: 32%

Amount awarded to these students during fiscal year 15–16: $1,648,378


Audited Financials

Arizona Revised Statute 43-1605, Subsection A requires every certified STO which receives over one million dollars in donations to complete a financial audit conducted by an independent CPA. After the audit’s completion, ACSTO files a signed copy with the Arizona Department of Revenue.


Form 990

Our most recent Form 990’s, along with those from previous years, are available to be viewed at GuideStar's website.


Charity Navigator

ACSTO has received a four star rating for sound fiscal management and commitment to accountability and transparency with Charity Navigator, America's premier charity evaluator. View the letter we received from Charity Navigator here.

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OPPORTUNITY FOR A CHRISTIAN EDUCATION