Since 1998, Catholic Education Arizona has awarded more tuition scholarships than any other School Tuition Organization in the state of Arizona. We’ve granted over 122,000 scholarships totaling in excess of $230 million dollars to students in need of tuition assistance to attend one of 38 schools in the Diocese of Phoenix.
The funding our schools receive is from Arizona’s Private Education Tax Credit legislation that was passed in 1997. This law allows individuals the option to direct their tax liability to tuition scholarships, and in 2006, the Low Income Corporate Tax Credit legislation was passed offering the tax credit to Arizona corporations as well. Arizona was the first state in the nation to adopt this legislation and to date, 16 states have followed their lead by passing some form of tax credit legislation.
Financials
Transparency
Catholic Education Arizona (CEA) is committed to financial transparency. The organization adheres to the highest standards of Federal 501(c)(3) charitable laws and guidelines, as well as to the State of Arizona Department of Revenue statutory requirements.
Equality
Catholic Education Arizona was designed to give priority to underserved students on a need-qualified basis and continues to be one of the only School Tuition Organizations (STO’s) in Arizona that has never accepted contributions designated (or “recommended”) for individual recipients as determined by Federal law for charitable giving. Since inception, CEA has conducted an annual, independent audit. Following the annual audit, the IRS Form 990 is filed. Both of these documents are available by clicking the links below.
Integrity
In addition, Catholic Education Arizona continues to voluntarily adhere to a formerly State-mandated “Procedural Audit” (“Agreed Upon Procedures”) for STO’s in order to maintain the highest degree of financial integrity and public accountability. The FULL financial summary report issued by the State of Arizona, Department of Revenue (ADOR) for ALL School Tuition Organizations for fiscal year ending June 30, 2014 can be viewed by clicking the PDFs below.
Financial Statements