S T A Y
School Tuition Association of Yuma, Inc.
The School Tuition Association of Yuma, Inc. (STAY) is a School Tuition Organization in accordance with the provisions of A.R.S. 43-1089 and A.R.S. 43-1183. It was incorporated in 1999 for the purpose of implementing the Arizona Private School Tuition Tax Credit and is a tax-exempt charitable organization pursuant to section 501(c)(3) of the Internal Revenue Code.
NOTICE
A school tuition organization cannot award, restrict or reserve scholarships solely on the basis of a donor recommendation.
A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer's own dependent.


CORPORATION Regulations:

  • A corporation cannot designate a specific student but can make a recommendation of a qualified private school. If there are qualified children in these recommended school every attempt will be made to scholarship these students. If there is no qualified student in the recommended school or if there are any additional funds available, the selection committee will scholarship other qualified students.

  • This year the annual cap is $17.28 million(2009-2010) and given on a first come, first serve basis.

  • The contribution form must be submitted to STAY. STAY will in turn submit the form to the Arizona Department of Revenue via Express Mail.

  • DOR has 20 days to approve the contribution and then notify STAY.

  • STAY will notify the corporation if they are approved by the DOR, and then the corporation has 10 days to send the contribution. After 10 days the corporation is taken out of the $17.28 million cap and must start all over again.

  • The corporate tax cap will increase by 20% per year.

  • The corporation can take the full state tax credit. For a federal deduction check with your accountant for further instructions.

  • Typically "C" corporations are the ones eligible for receiving a tax credit.

  • If you are a corporation, please click on the following link for an application:

      • Corporation Application

  • If you are a scholarship applicant, please click on the following link for an application:

      • Scholarship Application

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Links
Overview
FAQ
Board of Directors
Legislation

Forms
Donation Form
Scholarship Application

Contact Us

P.O. Box 515 • Yuma, AZ 85366 • (928) 782-5786 • FAX (928) 783-8251