Step Up For Students Earns Highest Rating from Charity Navigator for Fourth Consecutive Year
August 18, 2015 | Tampa, Fla. – For the fourth consecutive year, Step Up For Students has earned a four-star rating for sound fiscal management and commitment to accountability and transparency from Charity Navigator, the nation’s largest independent charity watchdog.
“As the nonprofit sector continues to grow at an unprecedented pace, savvy donors are demanding more accountability, transparency and quantifiable results from charities they choose to support with their hard-earned dollars,” John P. Dugan, Charity Navigator’s founder and chairman of the board, wrote in a congratulatory letter to Step Up President Doug Tuthill. “Our goal is to provide donors with essential information needed to give them greater confidence in the charitable choices they make.”
The four-star rating comes after Charity Navigator conducted its annual review of Step Up, giving the nonprofit organization that helps administer the Florida Tax Credit Scholarship Program (FTC) an overall 99.92 out of 100 points, with 99.9 points in financial management and a 100-point score in transparency. Step Up also helps administer the state-funded Gardiner Scholarship (PLSA), but the program wasn’t in effect yet during the time period in which the nonprofit was reviewed.
“This is the highest rating a nonprofit may receive and is further recognition of the phenomenal job our staff does every day,” Tuthill said. “This is a wonderful accomplishment and further demonstrates how seriously we take this business of making a difference in the lives of Florida’s schoolchildren who need educational options most.”
During the 2014 fiscal year, Step up received $332.3 million in contributions, gifts and grants to fund and administer the scholarship programs.
“Only 8 percent of the charities we rate have received at least four consecutive four-star evaluations, indicating that Step Up For Students outperforms most other charities in America,” Dugan wrote. “This exceptional designation from Charity Navigator differentiates Step Up For Students from its peers and demonstrates to the public it is worthy of their trust.”
The superior rating secured the Tampa Bay area nonprofit the No. 4 spot for the second year in row on Charity Navigator’s 10 Top-Notch Charities list, where Step Up moved two years ago from No. 7. The list recognizes that the 10 recognized charities adhere to good governance and other best practices that minimize the chance of unethical activities. It also shows they execute their missions in a fiscally responsible way.
“We are proud of being No. 4, but it is our goal to reach No. 1,” Tuthill added. “What we do is extremely important work for low-income children and children with certain special needs, so we need our donors and supporters to know we are and will continue to be good stewards of their money and their trust.”
“Only 8 percent of the charities we rate have received at least four consecutive four-star evaluations, indicating that Step Up For Students outperforms most other charities in America.”John P. Dugan, Charity Navigator’s founder and chairman of the board
Since 2002, Charity Navigator, also a nonprofit, has awarded only the most fiscally responsible 501(c)(3) organizations its top ranking using financial information provided by the organizations’ informational tax returns or IRS Form 990s to determine rankings. The national company then analyzes a charity’s fiscal performance in seven key areas, including program, administrative and fundraising expenses; fundraising efficiency and revenue growth.
Step Up For Students has been awarding scholarships to low-income families for nearly 15 years, providing more than 400,000 scholarships to K-12 schoolchildren. Step Up expects to serve 78,000 low-income students and several thousand more children with special needs in the 2015-16 school year. The income-based Florida Tax Credit Scholarship is worth up to $5,677 for the 2015-16 school year toward private school tuition and fees; the Gardiner Scholarship (PLSA) averages $10,000 per student annually.
Link for Charity Navigator report:
About Charity Navigator
Charity Navigator is the largest charity evaluator in United States and its website attracts more visitors than all other charity rating groups combined. The organization helps guide intelligent giving by evaluating the financial health and accountability and transparency of roughly 5,500 mid-to-large sized charities that garner roughly 50 percent of all private contributions made in the United States each year (excluding houses of worship). Charity Navigator accepts no advertising or donations from the organizations it evaluates, ensuring unbiased evaluations. It does not charge the public for its data. As a result, Charity Navigator, a nonprofit 501 (c) (3) organization, depends on donor support. For more information, visit the website at www.charitynavigator.org.
About Step Up For Students
In 2001, the Florida Legislature created the Florida Tax Credit (FTC) Scholarship Program as a way to give low-income families a voice in their children’s education. This innovative program gives dollar-for-dollar state tax credits to corporations that redirect a portion of their Florida tax liability to the scholarship program. The scholarship program is available to K-12 students who qualify for the federal free or reduced-price lunch program and provides tuition assistance to the private school of their parents’ choice from about 1,500 participating schools, or $500 toward transportation costs to an out-of-district public school. In 2014, Step Up For Students also began helping administer the state-funded Gardiner Scholarship (PLSA), a program for students with certain special needs. For more information, or to learn how your corporation can participate in the income-based program, visit www.StepUpForStudents.org.