Financial Reports

“At Step Up For Students, our pledge is to be effective in providing education opportunities to low-income K-12 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
During fiscal year 2021, Step Up For Students’ percentage breakdown of expenditure is as follows:

  • Program Services: 98.7%
  • General and Administrative: 1.0%
  • Development and Fundraising: .3%
  • Total: 100%

The Step Up For Students scholarship is enabled through a state legislative act first adopted in 2001 known as the Florida Tax Credit Scholarship. Under the program, companies have committed more than approximately $5.2 billion to date, which has funded more than one million scholarships. In the past 18 years, the annual enrollment has grown from 15,585 to 102,969 for the 2020-21 school year.

The Gardiner Scholarship, an educational option for students with unique abilities, was created by the Florida legislature in 2014. In 2021, the Florida legislature rolled the Gardiner scholarship into the Family Empowerment Scholarship. More than 65,000 education savings account scholarships have been awarded to children with unique abilities since 2014.

The state of Florida requires each Scholarship Funding Organization 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.

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