2024-12-18T08:19:51-06:00 2024-06-30 770602105 MONICA J STERN CPA PLLC 11225 NORTH 28TH DRIVE SUITE A100 PHOENIX AZ 850295608 990 2023-07-01 860958161 ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND INC ARIZ 4806998911 15900 NORTH 78TH STREET 210 SCOTTSDALE AZ 85260 STEPHEN MOTTE TREASURER 4806998911 2024-12-13 1 1 MONICA J STERN CPA P00295294 6026748226 2024-12-13 2023 2024-10-15 13:58:12Z GRANT SARDACHUK 15900 NORTH 78TH STREET 210 SCOTTSDALE AZ 85260 7134785 0 X WWW.APESF.ORG X 1998 AZ ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND (APESF) IS A DEDICATED AND ACTIVE PARTNER OF SCHOOL-CHOICE IN THE STATE OF ARIZONA. OUR PRIMARY MISSION IS TO ADVANCE SCHOOL-CHOICE BY PROVIDING FINANCIAL SUPPORT, THROUGH TUITION SCHOLARSHIPS, TO QUALIFIED STUDENTS ATTENDING PRIVATE ARIZONA K-12 SCHOOLS. APESF IS CERTIFIED BY THE ARIZONA DEPARTMENT OF REVENUE AS A SCHOOL TUITION ORGANIZATION PURSUANT TO ARS SECTION 43-1089. APESF UTILIZES STATE TAX CREDIT AND GENERAL DONATION REVENUES TO FULFILL ITS MISSION. 8 8 5 0 0 0 5837685 6937139 0 0 83415 197646 1636 0 5922736 7134785 4073243 5000184 0 0 349162 286313 0 0 155618 294672 405291 4717077 5691788 1205659 1442997 5539242 6983330 1656 2747 5537586 6980583 TO OPERATE AS A QUALIFIED TUITION ORGANIZATION UNDER ARIZONA STATUTES RELATED TO PRIVATE SCHOOL TUITION TAX CREDITS. 0 0 5211910 4980641 DURING 2023-2024, PAID OUT SCHOLARSHIPS TO 1,323 ELIGIBLE K-12TH GRADE LEVEL STUDENTS ATTENDING ACCREDITED PRIVATE SCHOOLS THROUGHOUT THE STATE OF ARIZONA. 19543 19543 GRANTS ARE MADE TO SUPPORT YOUTH AND YOUTH PROGRAMS. BEYOND THE BOOKS GRANTS ARE MADE TO HELP LOW-INCOME OR AT-RISK ARIZONA STUDENTS TO HELP OFFSET THE ADDITIONAL COSTS OF PRIVATE SCHOOL EXTRACURRICULAR ACTIVITIES, TECHNOLOGY/TEXTBOOKS, SPORTS, GRADUATION, FIELD TRIPS, UNIFORMS, LEARNING SERVICES AND MORE. DURING THE 2023-2024 FISCAL YEAR, GRANTS WERE MADE TO BENEFIT 27 STUDENTS AT THREE ARIZONA PRIVATE SCHOOLS. IN ADDITION, THE ORGANIZATION AWARDED GRANTS TOTALING $8,000 WERE MADE TO FOUR NONPROFIT ORGANIZATIONS TO SUPPORT PROGRAMS BENEFITTING ARIZONA YOUTH. 5231453 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 7 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 4806998911 15900 NORTH 78TH STREET 210 SCOTTSDALE AZ 85260 PAUL COX DIRECTOR (END 3/2023) 0.50 X 0 0 0 DEREK BOHLEN DIRECTOR 0.50 X 0 0 0 LISA MOERKERKE PIPHER DIRECTOR 0.50 X 0 0 0 SHANNON MITCHELL DIRECTOR (BEGIN 5/2024) 2.00 X 0 0 0 TODD BAUGHMAN DIRECTOR (BEGIN 5/2024) 2.00 X 0 0 0 STEPHEN MOTTE TREASURER (BEGIN 2/2024) 2.00 X X 0 0 0 KEVIN ARMSTRONG TREASURER (END 4/2024) 2.00 X X 0 0 0 GARY DAMORE SECRETARY 2.00 X X 0 0 0 GRANT SARDACHUK CHAIRMAN 2.00 X X 0 0 0 RICHARD DOE EXEC. DIRECTOR 40.00 X 84750 0 24655 84750 0 24655 0 0 0 0 0 6937139 6937139 197646 197646 7134785 0 0 197646 8000 8000 4992184 4992184 113173 56587 11317 45269 135856 60782 42382 32692 20836 6146 2398 12292 16448 7712 3709 5027 3544 3544 24677 24677 113359 31691 77626 4042 25010 10983 14027 18034 6635 7074 4325 54509 22260 14546 17703 40436 18958 9120 12358 1060 497 239 324 17173 4030 10516 2627 11926 4988 2006 4932 6857 6857 BANK AND MERCHANT FEES 88706 88706 5691788 5231453 304717 155618 100713 32992 5256028 6608941 420684 79287 182501 341397 5539242 6983330 1656 2747 1656 2747 X 5534336 6980583 3250 0 5537586 6980583 5539242 6983330 1442997 0 X X 0 1 X 1 0 X 7563696 6922465 7490422 5837685 6937139 34751407 7563696 6922465 7490422 5837685 6937139 34751407 3318874 31432533 45791 15840 8020 83415 197646 350712 35102119 3199 0.89550 0.87800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 420684 79287 341397 341397 CREDIT CARD LIABILITY 2747 2747 X 7134785 0 7134785 0 7134785 5691788 0 5691788 0 5691788 PART X, LINE 2: APESF IMPLEMENTED ACCOUNTING GUIDANCE RELATED TO UNCERTAIN TAX POSITIONS. USING THAT GUIDANCE, TAX PROVISIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF JUNE 30, 2024, APESF HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. APESF WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE WHEN PAID. 1 SCHOLARSHIPS FOR K-12TH GRADE LEVEL STUDENTS ATTENDING PRIVATE SCHOOLS IN THE STATE OF ARIZONA IDENTIFIED WITH FINANCIAL NEED TO PAY TUITION EXPENSES. 1323 4980641 STUDENT EXTRACURRICULAR GRANTS FOR LOW-INCOME OR AT-RISK ARIZONA STUDENTS ATTENDING PRIVATE SCHOOLS TO HELP OFFSET NON-TUITION COSTS. 27 11543 PART I, LINE 2: ALL STUDENTS ARE REQUIRED TO APPLY FOR SCHOLARSHIPS EACH YEAR AWARDED. EACH APPLICATION IS REVIEWED TO DETERMINE THE AWARD AMOUNT TO BE PAID, IF ANY, BASED ON FINANCIAL NEED, ACHIEVEMENT, STATE LAW, AND OTHER FACTORS. ALL SCHOLARSHIPS ARE AWARDED IN A NON-DISCRIMINATORY MANNER. OTHER GRANTS MADE ARE DETERMINED BY THE BOARD AND MANAGEMENT, BASED ON NEED AND THE PROGRAMS BEING FUNDED. GARY DAMORE BOARD MEMBER 21795 SCHOLARSHIP PAID TO SCHOOL SCHOLARSHIPS AWARDED TO GRANDSON DEREK BOHLEN BOARD MEMBER 17140 SCHOLARSHIP PAID TO SCHOOL SCHOLARSHIPS AWARDED TO SON RICHARD DOE EXECUTIVE DIRECOR 15635 SCHOLARSHIP PAID TO SCHOOL SCHOLARSHIPS AWARDED TO DAUGHTER STEPHEN MOTTE TREASURER 6055 SCHOLARSHIP PAID TO SCHOOL SCHOLARSHIPS AWARDED TO CHILDREN TODD BAUGHMAN BOARD MEMBER 3525 SCHOLARSHIP PAID TO SCHOOL SCHOLARSHIPS AWARDED TO DAUGHTER 0 FORM 990, PART VI, SECTION A, LINE 4 IN DECEMBER 2023, THE BOARD APPROVED THE ORGANIZATION OF AZCREDITS, LLC., WHICH IS WHOLLY OWNED BY ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND. THE MISSION OF AZCREDITS, LLC, IS TO MAXIMIZE ARIZONA TAX CREDIT DONATIONS FOR SCHOOL TUITION ORGANIZATIONS, QUALIFIED CHARITABLE ORGANIZATIONS AND QUALIFIED FOSTER CARE CHARITABLE ORGANIZATIONS. CONTRIBUTIONS RECEIVED ARE PASSED THROUGH TO THE ORGANIZATIONS RECOMMENDED BY THE DONORS. FORM 990, PART VI, SECTION B, LINE 11B EACH BOARD MEMBER REVIEWS THE INFORMATION PROVIDED TO COMPLETE THE FORM 990, AS WELL AS REVIEWS THE COMPLETED FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY EACH MEMBER OF THE BOARD SIGNS A STATEMENT THAT THEY: (1) HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (2) HAVE READ AND UNDERSTAND THE POLICY; (3) HAVE AGREED TO COMPLY WITH THE POLICY; AND (4) UNDERSTANDS THE CORPORATION IS CHARITABLE, AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF THE TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE CONTRACT FOR THE EXECUTIVE DIRECTOR USING COMPARABILITY DATA. THE EXECUTIVE DIRECTOR IS NOT INCLUDED IN THE DISCUSSION, AND THE BOARD INDEPENDENTLY DISCUSSES AND DOCUMENTS DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAINTAINS A PUBLIC DISCLOSURE COPY OF THE RETURN FOR PUBLIC INSPECTION IN THEIR OFFICE WHERE THE PUBLIC CAN MAKE AN APPOINTMENT TO REVIEW WITH REASONABLE ADVANCE NOTICE. FORM 990 PART XI, LINE 2C THE ORGANIZATION CONTINUES WITH THE CURRENT, THOROUGH, OVERSIGHT PROCESS. STO MANAGEMENT GROUP LLC 15900 NORTH 78TH STREET STE 210 SCOTTSDALE AZ 85260 270558355 TO ASSIST IN MANAGEMENT OF ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND, INC AZ 768199 356174 ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND INC AZCREDITS LLC 15900 NORTH 78TH STREET STE 210 SCOTTSDALE AZ 85260 MAXIMIZE ARIZONA TAX CREDIT DONATIONS FOR ALL AZ CHARITABLE TAX CREDITS AZ 10000 1630 ARIZONA PRIVATE EDUCATION SCHOLARSHIP FUND INC