PLATINUM2023

AAA Scholarship Foundation Inc

aka AAA Scholarships   |   Tampa, FL   |  www.aaascholarships.org

Mission

AAA Scholarship Foundation's mission is to provide economic and other assistance to economically-disadvantaged families to enable them to select the best schools for their children.

Notes from the nonprofit

Partnering with the AAA Scholarship Foundation provides your company with a simple way to help the communities your company serves, while earning tax credits in one or more states, all through one organization. With more than 20 years of hands-on experience successfully administering tax credit scholarship programs, you can be rest assured that your participation will be effective, easy and impactful.

Ruling year info

2010

Principal Officer

Kim Dyson CPA

Main address

PO Box 15719

Tampa, FL 33684 USA

Show more contact info

EIN

27-2559468

NTEE code info

Scholarships, Student Financial Aid, Awards (B82)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Tax Credit Scholarship Programs give at-risk students an increased chance at a brighter future and gives companies the satisfaction that they are utilizing their tax dollars toward building a better-educated workforce. For low-income children, who are often several grade levels behind their peers, these programs are a lifeline for paving a pathway out of poverty. The typical AAA Scholarship student is an ethnic minority living with a struggling single parent/caregiver in a high crime community. More than 80 percent of AAA scholarships are distributed to children at or below 200 percent of poverty. Many children are either below grade level, failing at their previous school or both when they receive a scholarship. Parents, who find their children in these circumstances and care about their future, look for viable options. They seek an atmosphere that challenges their child and will reverse inadequate learning, social patterns and the potential lifelong negative impact.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

2022-23 Tax Credit Scholarship Program

Corporations receive a dollar-for-dollar tax credit by participating in any of the scholarship programs benefiting low-income students.
-The $145M AZ Corporate Tax Credit Scholarship Program allows companies to redirect up to 100% of their state corporate and/or insurance premium tax liability.
-Companies that pay income, insurance premium, alcoholic beverage excise, direct pay sales & use, commercial lease sales, and oil and/or gas production taxes in FL can redirect up to 100% of that liability. The 2023 program cap is $1.09B.
-The $120M GA Qualified Education Expense Tax Credit Program allows companies paying corporate income tax to redirect up to 75% of its tax, as well as insurance premium ($6M cap).
-The $6.65M NV Educational Choice Scholarship Program allows companies that pay a Modified Business Tax to redirect that liability to AAA.
Success is measured by the funds raised and # of scholarships distributed to eligible students, while maintaining a low admin percentage.

Population(s) Served
Children and youth

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of students who benefit from scholarships so that they may attend the best schools for their learning needs.

This metric is no longer tracked.
Totals By Year
Population(s) Served

Children and youth, Economically disadvantaged people, People with disabilities

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Thanks to our wonderful donors, we have granted 53,379 scholarships since 2010 to low-income children and children with special-needs so they could attend schools that best fit their learning needs.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Quality education is a basic human right and a significant factor in the development of strong children, families and communities. Empowering economically-disadvantaged parents to choose the educational setting tailored for their child's learning needs will allow that child to thrive and will help break the intergenerational chains of poverty because education is intrinsically linked not only to an educated child but to improving, health, reducing hunger, spurring economic growth and building a strong nation.

Our two main goals are:
• to annually expand by 20 percent the number of economically-disadvantaged students served through tax credit scholarship programs in Arizona, Florida, Georgia, and Nevada so they can afford to attend the educational environment that best fits their learning needs;
• to expand into other states of great need that also offer a high-yielding tax-credit opportunity for donors.

• Provide quality partnership opportunities for our corporate participants;
• Educate targeted communities in the states where we serve children about the AAA scholarship opportunity;
• Uphold our commitment to exceptional customer service to each of our key stakeholders (families, corporate partners, schools);
• Provide insight to elected officials on best practices and accountability measures that must be implemented to expand these programs nationwide;
• Receive clean (“unqualified") financial audits annually.

AAA Scholarship Foundation is the only 501(c)(3) nonprofit state approved scholarship organization in the country that is approved to manage state corporate tax credit scholarship programs in four states. And many other things make us distinct. The AAA Scholarship Foundation:

• has been awarded the prestigious Guide Star Platinum Seal, demonstrating the highest level of good management practices in a non-profit organization.
• Awards scholarships directly to families – not schools.
• Awards scholarships for at least a 3-year term in states that allow multi-year commitments – we believe that the continuity of an educational setting is important for children to succeed.
• Is managed by the nation's leading state corporate tax credit scholarship program professionals with over 20 years of experience successfully administering programs.
• Has a CPA on-staff to ensure that your tax questions are answered correctly and to ensure timely and accurate reporting.
• Limits our overhead to 2.18 percent for administrative funding.

• Since 2010, we have grown exponentially with our first scholarship distribution of 285 scholarships to now serving 8,134 economically-disadvantaged students in four states;
• Since 2010, we have expanded our area of service from just Georgia to serving low-income students in four states (AZ, FL, GA, NV);
• Since 2010, we have received only clean (“unqualified) annual reports from independent auditors;
• Since 2010, 12 new tax credit scholarship programs have been passed into law.

While we have made significant progress towards our goals since our inception, a great need still remains. According to the 2016 Annual Grad Report by Civic Enterprises and Everyone Graduates Center at the School of Education at Johns Hopkins University, only 74.6 percent of all low-income students graduated compared to 89 percent of non-low-income students. We aim to equalize that number and, with your help, we will.

Financials

AAA Scholarship Foundation Inc
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

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AAA Scholarship Foundation Inc

Board of directors
as of 01/24/2023
SOURCE: Self-reported by organization
Board chair

Teri L'Homme

Toni Cardamone

Kim Dyson

Teri L’Homme

Kimberly Perry

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 3/1/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 04/10/2020

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We disaggregate data by demographics, including race, in every policy and program measured.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.