Financial Reports

At Step Up For Students, we pledge to be effective in providing educational opportunities to PreK3 through 12th grade schoolchildren by being good stewards of the funds entrusted to us. We are audited each year and the information below is summarized from the audited financial statements for the fiscal year ended June 30, 2021.
Distribution Percentages

Step Up For Students’ 2021 breakdown of expenditures

98.7%
- Program Services
1.0%
- General & Administrative
0.3%
- Development & Fundraising
TOTAL: 100%

Financial Audits

The state of Florida requires each Scholarship Funding Organization (SFO) to submit a financial and compliance audit performed by an independent certified public accountant each year. The report is submitted to the Auditor General and the Department of Education.

Financial Audits

Auditor General Operational Audits

As of 2014, Section 11.45(2)(k), Florida Statutes requires the Auditor General to annually conduct an operational audit of the accounts and records of eligible nonprofit scholarship funding organizations.

Auditor General Operational Audits

IRS Form 990

The Internal Revenue Service requires that each 501(c)(3) nonprofit corporation file a statement of finances each year, known as Form 990. In previous years, the corporate name under which Step Up For Students operated was the Florida School Choice Fund.

IRS Form 990

School Financial Reports

In 2010, the State Legislature required that every school receiving more than $250,000 in any given year hire an independent Certified Public Accountant (CPA) to file a financial report by Sept. 15. The report, formally called Agreed Upon Procedures (AUP), is intended to ensure that the money is used for education-related expenses.

Agreed Upon Procedures

AUP Report to Department of Education

Stepping Beyond the Scholarship

Every day, students across Florida are fulfilling their potential through personalized education. Meet the students and read their stories as they forge a new educational path. Be inspirED by how our scholarships are shaping the future.
Visit inspirED

Reimagining
Education

As the national gathering place for news and commentary about the evolving world of education choice, NextSteps' robust team of reporters and commentators rely on their experience to speak about the explosion of education options and the means for tapping into them.
Visit NextSteps
crossmenu