Step Up for Students - Florida Inc.

“In june 2014, legislation created a scholarship for special needs children that was signed into law in florida. A family empowerment scholarship for students with unique abilities (formally known as gardiner scholarship) was established for each child that is awarded a special needs scholarship. Parents use this money to personalize the education of their children with unique abilities by directing money towards a combination of programs and state approved providers. These include schools, therapists, specialists, curriculum and technology and college savings accounts. In june 2018, legislation created a scholarship to provide academic support for elementary school students in district or charter schools who struggle in reading that was signed into law in florida. The new worlds reading scholarship is available to students in third through fifth grade who have scored a level 1 or 2 on the english language arts section of the florida standards assessment. Parents use this scholarship to pay for tuition and fees related to part-time tutoring, summer and after-school literacy programs, instructional materials and more. During the years ended june 30, 2023 and 2022, sufs-fl distributed approximately $556.6 million and $203.9 million, leaving a balance of approximately $331.0 million and $191.1 million respectively for both the fes-ua and new worlds reading scholarship, which is recorded in the consolidated statement of financial position as both as asset and a liability. Sufs-fl is acting as an agent for both of these programs, therefore, there are no revenues and expenses reported on the statement of activities for scholarship funds received and distributed from the state of florida.”

“The organization follows accounting standards relating to accounting for uncertainty in income taxes. Management assessed whether there were any uncertain tax positions which may give rise to income tax liabilities and determined that there were no such matters requiring recognition in the accompanying consolidated financial statements. Generally, the organization is no longer subject to u.s. Federal or state income tax examinations by tax authorities for years before june 30, 2019.”

“Beginning in 2021, step up for students - florida had an increase in software which is the result of the organization's investment in a new software platform to better serve our scholarship students and families. The platform will contain student accounts and will be the platform on which payments to schools, providers, and parents will be recorded. This will be cloud-based, which will allow sufs-fl to better manage future growth in programs, while enhancing the student/family experience and supporting schools and providers. The new platform will have an artificial intelligence component and workflows to provide a more modern, faster experience for users.”