As per Arizona Department of Revenue guidelines written documentation showing that the website has been updated with data on the percentage and total dollar amounts of FY 2022/23 scholarships paid by family income level for all applicable is outlined below as required in A.R.S. §§ 43‐1503(B)(6) and 43‐1603(B)(5).
A.R.S. § 43-1503.B.6 states that a school tuition organization shall include on their website, if one exists, the percentage and total dollar amount of educational scholarships and tuition grants awarded during the previous fiscal year to a) students whose family income meets the economic eligibility established under the national school lunch and child nutrition acts for free or reduced price lunches and to b) students whose family income exceeds the threshold by subdivision (a) but does not exceed the 185% of the economic eligibility established under the national school lunch and child nutrition acts for free or reduced price lunches.
Community Reinvestment: Low Income Based Scholarships handles both Individual and Corporate Donations and has received both beginning April 2023. Internally, we only issue tuition assistance to applicants whose families are defined as LMI (low-moderate income) as defined in banking terminology AND Low Income as defined by the Arizona Department of Revenue and measured against the national school lunch and child nutrition acts for the free or reduced-price lunch guidelines. More information related to qualifications can be found:
https://www.feedingamerica.org/take-action/advocate/federal-hunger-relief- programs/national-school-lunch- program#:~:text=Low%2Dincome%20children%20are%20eligible,qualify%20for%20reduced%2 Dprice%20meals.
Community Reinvestment: Low Income Based Scholarships Inc. opened donations in April 2023. The first individual donations were received in April 2023, and the first corporate donations began in September 2023. All applicants meet the Low-Income eligibility criteria.
Community Reinvestment: Low Income Based Scholarships Inc. is a 501(c)(3) nonprofit organization approved by the Arizona Department of Revenue to accept private school tax credit donations.
EIN: 92-2109451
