A school tuition organization (STO) is a Section 501(c)(3) charitable organization created to receive contributions from Iowa taxpayers in exchange for a 75% Iowa income tax credit. STO contributions are allocated (in the form of tuition grants) to eligible students who attend any of the accredited nonpublic schools represented by a given STO.
The STO of Southeast Iowa serves all of the Catholic schools within the Diocese of Davenport except those within Scott County. We serve a total of nine schools and represent about 2,300 students.
An STO contribution earns the donor a credit against his/her Iowa income tax equal to 75% of the amount contributed. In addition, the donor may claim a charitable contribution deduction for federal tax purposes if he/she itemizes deductions.
At least 90% of all money received by an STO must go to eligible students in the form of tuition grants. Historically, the STO of Southeast Iowa has paid out over 96% of its income to qualified students.
Qualifying individuals are those K-12 students who live in an Iowa household the total income of which does not exceed an amount equal to four times the federal poverty guideline.
Our current board of directors is shown here.
Yes. Similar programs have been established in Arizona, Florida, Pennsylvania, and Rhode Island.
The tuition tax credit and the STO tax credit are separate Iowa credits. Both of these credits may be claimed on the same Iowa tax return.
There are currently 12 Iowa STOs, representing over 33,500 students. These 12 STOs have been "; print "authorized by the Iowa Department of Revenue to issue tax credits totaling $$faq_IATaxCredits in $index_CurrentYear.
The STO of Southeast Iowa has been authorized to issue tax credits totaling $$faq_TaxCredits in $index_CurrentYear. "; print "This means that we are allowed to receive qualifying contributions of $$index_TotalAmount in $index_CurrentYear.
Any taxpayer can contribute to the STO. However, only individuals, corporations, partnerships, estates, and trusts that pay Iowa income tax are eligible for the STO credit.
Yes. The STO's annual financial statement, which is reviewed by an independent CPA firm, is available upon request.
Yes. Subject to limitations imposed by the State of Iowa, a donor may restrict his/her gift to one or more schools represented by the STO of Southeast Iowa. However, once the needs of the students in a given school have been met, that school's unused restricted contributions may be reallocated to help meet the needs of students in the other schools we serve.
No. Gifts of all sizes are welcome. Donors of large gifts are advised to check with a tax professional to make sure that any STO tax credits issued can actually be utilized by the donor.
All families who wish to be considered for a grant from the STO of Southeast Iowa must
complete and submit a confidential financial
aid application.
Todas las familias que desean ser consideradas para una concesión de la STO del sudeste de Iowa deben
Complete y envíe una
información financiera Aplicación de ayuda.
The deadline for $index_CurrentYear-$index_NextYear applications is $apply_NoLaterThan. "; print "Families who wish to receive an STO grant must also complete and file their $apply_TaxYear federal income tax "; ?> return by this date because a copy of the first two pages of that return must be submitted with the application. Taxpayers who file late will not be eligible to receive STO funds, but they should still file a financial aid application if other financial assistance is requested.
No. There are no additional STO funds available for appeals. Many of the schools we serve also offer other forms of financial assistance. Families needing assistance beyond what the STO can provide are encouraged to check with their school's financial aid or business office.
Contact the Executive Director of the STO of Southeast Iowa, Steve Roling, at (563) 391-1845 or steve.roling@roling.tax.
All rights reserved.
5247 Pinecreek Lane
Bettendorf, IA 52722
ph: (563) 391-1845
fax: (563) 391-5441
steve.roling@roling.tax