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 (fes ua, 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. The new worlds scholarship was created in 2018 to provide academic support for elementary school students in district or charter schools, who struggled in reading and was expanded to include math in 2023. Step up for students-florida, as an approved scholarship funding organization, administers the program. The scholarship is available to students in k- through fifth-grade who have scored a level 1 or 2 on the english language arts and/or math sections of the florida standards assessment. Each scholarship is worth $500, irrespective of whether the student needs help in either or both areas of study. The parent can use these funds to pay for tuition and fees related to part-time tutoring, summer and after-school literacy programs, instructional materials and more. Through the new worlds scholarship account program, 31,764 students received scholarships in the 2023-24 school year. In june 2023, the florida tax credit (ftc) and family empowerment scholarship for educational options (fes eo) were converted from tuition and fee based scholarships to educational savings accounts (esa), similar to the fes ua program although tuition and fee payments must be made before reimbursements, myscholarshop (the organization's marketplace of educational products) or providers. Also in june 2023, legislation created the florida tax credit personal education program (ftc pep) for k-12 florida students who are not enrolled full-time in private or public school or a home education program. The program allows studnets to receive funds for parent directed education. During the years ended june 30, 2024 and 2023, sufs-fl distributed approximately $3 billion and $556.6 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 the fes ua, fes eo and new worlds 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, 2021.”

“Fundraising expenses 29,881.”

“Fundraising expenses 29,881.”

“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 contains student accounts and is the platform on which payments to schools, providers, and parents are recorded. This is cloud-based, which allows 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.”