ADOR Releases 2015 Summary
In July, ADOR published the FY 2015 Private School Tuition Organization Summary of Activity. The report outlines trends and totals for all Arizona school tuition organizations taken from the fiscal year 2015 reports. The report is a great resource for comparing your organization's performance with the performance of other STOs. From the program's inception in 1998 to the reporting at the end of the 2015 fiscal year, $952.4 million has been collected in donations by STOs. During that same time period, scholarships of $780.2 million have been paid.
Donations over all four programs increased by 14% in the fiscal year ended June 30, 2015. Scholarships during that same time period increased by 24% over the prior year.
The full report can be found on ADOR's website. |
|
|
Update Your STO Website Disclosures
All STOs are required to report the dollar amount and percentage of scholarships awarded to students at certain income levels for each program administered. This requirement was new for FY 2016 reporting of FY 2015 numbers. Now that your FY 2016 Annual Reports are complete, you will need to update your website to reflect the FY 2016 numbers. You should first check with your CPA to make sure that the amounts will not change with any changes made as part of your annual reviewed financial statement, agreed-upon procedures, or audit engagement(s).
|
|
Have You Used Email Segmentation?
Many STOs use their website as their main point of contact with donors. If your organization sends out reminder or donation request emails to potential or past donors, you may want to consider segmenting your email lists before sending out mass requests to everyone. Segmenting can help you increase the effectiveness of each communication by focusing on a different message for different donor types. A more detailed analysis of segmenting can be found on The Little Green Light blog.
|
|
|
|
