Important Information and a “New Policy” Change

by admin on February 4, 2014

To all AZ4Education Community Members:

Another year is over, we have had our review and we are doing well. Again, we are witnessing some extremely strong results in the # of donations and total amount this year! That is great news.

We received a communication reminder from the ADOR about recommended donations and the potential for “swapping” or reciprocity. This is when one or more families are providing a recommended donation in a students name for each other students (or within a circle of families). This is against the regulations. Even if you did not intend for that donation to be a swap. It has happened!

Our policy in the past has been if we uncover a “swap” recommended donation. We would take the donation and more the funds to the General Fund for all student applications to AZ4Education. We have revisited that policy and will be adopting some of the same policies as other STO’s.

We are going to move forward with a donator choice..

  1. Change theĀ recommended donation to our General Fund. Funds will be open to all student scholarship applications to AZ4Education.
  2. Change the recommended donation to our School Fund. Funds will be open to all student scholarship applicants from a specific school.
  3. Request a refund in writing – minus all fees associated with the donation.

We would hope that you would still like to receive your Arizona Tax Credit and choose #1 or #2.

This is serving as a reminder to all of our members that we want our STO community to be strong and follow the guidelines and regulations that upon us. When we see any potential “swapping” or reciprocity – we will be sending out notices and working to close on the donation(s) as quickly as possible.

 

 

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