The Jewish Tuition Organization announced its year end revenue of over $4 million at a board meeting held July 20.
The largest increase in support came from Valley corporations, according to a press release. Corporate support increased by 32.5 percent.
The JTO is a student tuition organization that raises funds from both individuals and corporations through the Arizona private school tuition tax credit. The tax credit is an Arizona dollar-for-dollar tax credit.
For 2016, the tax credit is $1,087 for individuals and $2,173 for couples filing jointly. Corporations do not have a maximum limit for the tax credit. Funds raised by the JTO are used for need-based scholarships for children to attend one of six Phoenix area Jewish day schools, the release stated.
More than 90 percent of the funds raised go directly to need-based scholarships.
The schools supported by the JTO include Desert Jewish Academy in Chandler, Pardes Jewish Day School in Scottsdale, Phoenix Hebrew Academy, Shearim Torah High School for Girls, Torah Day School and Yeshiva High School of Arizona, all located in Phoenix.
“The support we receive increases each year as more individuals and corporations understand the benefit the tax credit provides the children in our community,” said JTO Executive Director Linda Zell, in the release. “We are pleased to be able to provide nearly 600 scholarships this year; our focus is to raise as much funding as we can, so that every child who wants a Jewish education can have one.”
The scholarships provided by the JTO are evaluated for need by a third-party. The scholarships are need-based and therefore the JTO does not accept designated support for any specific child or school.
All children with need who attend one of the JTO-supported schools are eligible for scholarships regardless of their background. Families that receive scholarships simply have to meet the need threshold and attend one of the schools.
The JTO is a nonprofit 501(c)(3) and can accept donations outside of the tax credit.
For more information contact the Jewish Tuition Organization offices at 480.634.4926 or visit www.jtophoenix.org.
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