Private School Tuition Fund 123

Nonprofit profile at a glance

EIN
815435928
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Phoenix, AZ, USA
Phone
6024668503
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$382,349
Expenses
$256,188
Assets
$479,386
Liabilities
$40,176

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • TIFFANY SEIDEMANN (President & CEO)

Highest reported compensation

  • TIFFANY SEIDEMANN (President & CEO): $11,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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, 2024, Private School Tuition Funds 123 provided 43 scholarships to 11 private schools.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 88
  • Accountability: 65
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.3%; rating input score 57
  • Program expense ratio: 85.5%; rating input score 85
  • Fundraising efficiency: $33.27 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96%; rating input score 96; 56th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 33%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.87; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -4.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 57.3% of revenue deployed · 85.5% of spending went to programs
  • Governance: 2 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $219K in reported program spending
  • Leadership: top reported pay $11K · 3 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.