Program Overview

(The application window is July 1 thru January 31 of each school year.)

Incorporated in 1999, School Tuition Association of Yuma, Inc. (STAY) is an AZDOR certified Corporate STO (School Tuition Organization) and is a tax-exempt charitable organization pursuant to section 501(c)(3) of the Internal Revenue Code. (EIN #86-0947351)

Mission Statement

The objective of STAY is to give the opportunity to attend a private school to more children by effectively implementing the provisions of the Arizona Private School Tuition Tax Credit.

Tax Credit Limits

1. Corporate Limits

The corporate tax credit donation limitation for fiscal year 2015/2016, (July 1, 2015 - June 30, 2016) is $51.598 million.

Low-Income Corporate Scholarship demographics based on household income
for fiscal year ending June 30, 2014:
Household income up to 185% of poverty level.
Scholarship Dollars % of Total Low-Income Scholarship Dollars
$60,990 41.72%           
 
Household income greater than 185% but not more than 342.25% of poverty level.
Scholarship Dollars % of Total Low-Income Scholarship Dollars
$85,213 58.28%           

 

2. Individual Limits

Collectively, the limit for individuals for tax year 2015 is $2,134 (married filing jointly) or $1,067 (filing single or separately).

The way it works for tax purposes is as follows. Individual donations are applied to the "Original Individual Tax Credit" until the donor reaches their "tax credit limit" for the tax year. At that time, the excess dollars are applied to the new "Switcher Individual Tax Credit" until that credit is also maxed for the tax year. Any donations in excess of the total limit, $2,134 (married filing jointly) or $1,067 (filing single or separately), are treated as donations which can be taken as itemized deductions on both your federal and state income tax returns.

1. Original Individual Tax Credit (Claimed on Arizona Form 323)

  • Donors that file married filing jointly, for income tax purposes, can take a tax credit up to $1,070.
  • Donors that that do not file married filing jointly, for income tax purposes, can take a tax credit up to $535.
Original Individual Scholarship demographics based on household income
for fiscal year ending June 30, 2014:
Household income up to 185% of poverty level.
Scholarship Dollars % of Total Original Individual Scholarship Dollars
$36,027 17.67%
 
Household income greater than 185% but not more than 342.25% of poverty level.
Scholarship Dollars % of Total Original Individual Scholarship Dollars
$65,254 32.01%

 

2. Switcher Individual Tax Credit (Claimed on Arizona Form 348)

  • Donors that file married filing jointly, for income tax purposes, can take a tax credit up to $1,064.
  • Donors that that do not file married filing jointly, for income tax purposes, can take a tax credit up to $532.
Switcher Individual Scholarship demographics based on household income
for fiscal year ending June 30, 2014:
Household income up to 185% of poverty level.
Scholarship Dollars % of Total Switcher Individual Scholarship Dollars
$23,081 16.19%
 
Household income greater than 185% but not more than 342.25% of poverty level.
Scholarship Dollars % of Total Switcher Individual Scholarship Dollars
$58,512 41.05%

 

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