STEP UP FOR STUDENTS - FLORIDA INC

EIN: 593649371 501(c)(3) Education

JACKSONVILLE, FL

Total Revenue
$904,611,188
Total Expenses
$1,241,338,513
Total Assets
$1,488,205,086
Net Assets
$795,993,715
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
FL
Principal Officer
JOSEPH E PFOUNTZ
Phone
9043522246
Tax Period
2023-07-01 to 2024-06-30

STEP UP FOR STUDENTS - FLORIDA INC, founded in 2000, is a major nonprofit in the Education sector that reported $904.6M in total revenue in fiscal year 2023. Expenses of $1.2B exceeded revenue, resulting in a 37% operating deficit.

Mission

STEP UP FOR STUDENTS EMPOWERS FAMILIES TO PURSUE AND ENGAGE IN THE MOST APPROPRIATE LEARNING OPTIONS FOR THEIR CHILDREN, WITH AN EMPHASIS ON FAMILIES WHO LACK THE INFORMATION AND FINANCIAL RESOURCES TO ACCESS THESE OPTIONS. BY PURSUING THIS MISSION, WE HELP PUBLIC EDUCATION FULFILL THE PROMISE OF EQUAL OPPORTUNITY.

Program Service Accomplishments

Program 1
Expenses: $1,177,681,896

FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM: IN THE 2023-24 SCHOOL YEAR, 132,180 STUDENTS ATTENDED 2,090 PRIVATE SCHOOLS ON A STEP UP FOR STUDENTS' TAX CREDIT SCHOLARSHIP. THE K-12 SCHOLARSHIP PROGRAM WAS...

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FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM: IN THE 2023-24 SCHOOL YEAR, 132,180 STUDENTS ATTENDED 2,090 PRIVATE SCHOOLS ON A STEP UP FOR STUDENTS' TAX CREDIT SCHOLARSHIP. THE K-12 SCHOLARSHIP PROGRAM WAS CREATED IN 2001 TO HELP ALLEVIATE THE ENORMOUS EDUCATIONAL CHALLENGES FACED BY CHILDREN WHO LIVE IN POVERTY, AND IT IS NOW THE LARGEST SUCH SCHOLARSHIP IN THE NATION. IN 2023, THE FLORIDA STATE LEGISLATURE OPENED THE SCHOLARSHIP TO ALL ELIGIBLE RESIDENTS OF FLORIDA. QUALIFIED STUDENTS COULD RECEIVE A MAXIMUM SCHOLARSHIP OF $11,223 DEPENDING ON GRADE LEVEL AND COUNTY RESIDENCE, FOR PRIVATE SCHOOL TUITION AND FEES OR A MAXIMUM OF $2,232 IN TRANSPORTATION COSTS TO ATTEND AN OUT-OF-DISTRICT PUBLIC SCHOOL. FLORIDA TAX CREDIT PERSONAL EDUCATION PROGRAM (FTC PEP): K-12 FLORIDA STUDENTS WHO ARE NOT ENROLLED IN PUBLIC SCHOOL OR A HOME EDUCATION PROGRAM CAN QUALIFY FOR A PERSONALIZED EDUCATION PROGRAM THROUGH THE FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM. THE PROGRAM ALLOWS STUDENTS TO RECEIVE A MAXIMUM SCHOLARSHIP OF $11,223, REGARDLESS OF HOUSEHOLD INCOME, TO RECEIVE PARENT-DIRECTED EDUCATION. THE FUNDS ARE PLACED INTO AN EDUCATION SAVINGS ACCOUNT (ESA) AND CAN BE USED TO PAY FOR INSTRUCTIONAL MATERIALS/CURRICULUM, CONTRACTED SERVICES PROVIDED BY A PUBLIC SCHOOL (INCLUDING CLASSES), TUITION FOR AN ELIGIBLE HOME EDUCATION INSTRUCTION PROGRAM, FEES FOR STANDARDIZED TESTING, PRIVATE TUTORING, POST-SECONDARY EDUCATION AND DIGITAL MATERIALS EXCLUSIVE OF DIGITAL DEVICES.

Program 2
Expenses: $32,328,953

THE FAMILY EMPOWERMENT SCHOLARSHIP PROGRAM WAS ESTABLISHED IN 2019 TO PROVIDE CHILDREN AND FAMILIES IN THE STATE OF FLORIDA WHICH HAVE LIMITED RESOURCES WITH EDUCATIONAL OPTIONS TO ACHIEVE SUCCESS IN...

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THE FAMILY EMPOWERMENT SCHOLARSHIP PROGRAM WAS ESTABLISHED IN 2019 TO PROVIDE CHILDREN AND FAMILIES IN THE STATE OF FLORIDA WHICH HAVE LIMITED RESOURCES WITH EDUCATIONAL OPTIONS TO ACHIEVE SUCCESS IN THEIR EDUCATION. THE FAMILY EMPOWERMENT SCHOLARSHIP WAS EXPANDED INTO TWO BRANCHES: FAMILY EMPOWERMENT SCHOLARSHIP FOR EDUCATIONAL OPTIONS AND FOR STUDENTS WITH UNIQUE ABILITIES (FORMERLY KNOWN AS GARDINER SCHOLARSHIP). FAMILY EMPOWERMENT SCHOLARSHIP EDUCATIONAL OPTIONS: THIS SCHOLARSHIP IS INTENDED TO HELP REDUCE THE WAIT LIST FOR THE TAX CREDIT SCHOLARSHIP PROGRAM AND SIMILARILY SERVES STUDENTS FROM LOW-INCOME AND WORKING-CLASS HOUSEHOLDS. STEP UP FOR STUDENTS-FLORIDA, AS AN APPROVED SFO, ADMINISTERED THIS SCHOLARSHIP AND SERVED 145,155 K-12 STUDENTS FOR THE 2023-2024 SCHOOL YEAR. IN 2023, THE FLORIDA STATE LEGISLATURE OPENED THE SCHOLARSHIP TO ALL ELIGIBLE RESIDENTS OF FLORIDA. QUALIFIED STUDENTS COULD RECEIVE UP TO A MAXIMUM SCHOLARSHIP OF $11,223 DEPENDING ON GRADE LEVEL AND COUNTY RESIDENCE, FOR PRIVATE SCHOOL TUITION AND FEES OR UP TO $2,232 IN TRANSPORTATION COSTS TO ATTEND AN OUT-OF-DISTRICT PUBLIC SCHOOL.FAMILY EMPOWERMENT SCHOLARSHIP FOR STUDENTS WITH UNIQUE ABILITIES (FORMALLY KNOWN AS GARDINER SCHOLARSHIP): IN THE 2023-24 SCHOOL YEAR, STEP UP FOR STUDENTS-FLORIDA ADMINISTERED THIS SCHOLARSHIP PROGRAM FOR STUDENTS WITH UNIQUE ABILITIES WITH SPECIFIC DIABILITIES THAT INCLUDE: AUTISM, CEREBRAL PALSY, DOWN SYNDROME, SPINA BIFIDA, INTELLECTUAL DISABILITY, WILLIAMS SYNDROME, AND MORE. THROUGH THIS SCHOLARSHIP PROGRAM, 96,678 ELIGIBLE STUDENTS RECEIVED A SCHOLARSHIP FOR THE 2023-24 SCHOOL YEAR AT AN AVERAGE OF $9,990 EACH. THE PROGRAM EMPOWERS FAMILIES TO CHOOSE THE EDUCATIONAL SERVICES THAT BEST MEET THE NEEDS OF THEIR STUDENT, AND THE MONEY CAN BE SPENT FOR SCHOOLS, THERAPISTS, SPECIALISTS, CURRICULUM, TECHNOLOGY EVEN A COLLEGE SAVINGS ACCOUNT.

Program 3
Expenses: $7,024,886

HOPE SCHOLARSHIP PROGRAM: STEP UP FOR STUDENTS-FLORIDA ADMINISTERS THE HOPE SCHOLARSHIP, WHICH WAS CREATED IN 2018 TO PROVIDE THE OPTION OF PRIVATE SCHOOL SCHOLARSHIPS TO STUDENTS IN PUBLIC SCHOOLS...

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HOPE SCHOLARSHIP PROGRAM: STEP UP FOR STUDENTS-FLORIDA ADMINISTERS THE HOPE SCHOLARSHIP, WHICH WAS CREATED IN 2018 TO PROVIDE THE OPTION OF PRIVATE SCHOOL SCHOLARSHIPS TO STUDENTS IN PUBLIC SCHOOLS WHO HAVE EXPERIENCED ACTS OF BULLYING AND INTIMIDATION. THE SCHOLARSHIPS ARE FINANCED BY CONTRIBUTIONS FROM AUTOMOBILE BUYERS, WHO ARE ALLOWED UNDER THE LAW TO REDIRECT UP TO $105 OF THEIR STATE TAXES ON EACH PURCHASE. THOSE CONTRIBUTIONS ARE USED TO PROVIDE TUITION SCHOLARSHIPS TO PARTICIPATING PRIVATE SCHOOLS. QUALIFIED STUDENTS COULD RECEIVE A MAXIMUM SCHOLARSHIP OF $11,223 DEPENDING ON GRADE LEVEL AND COUNTY RESIDENCE, FOR PRIVATE SCHOOL TUITION AND FEES OR A MAXIMUM OF $2,232 IN TRANSPORTATION COSTS TO ATTEND AN OUT-OF-DISTRICT PUBLIC SCHOOL. THE SCHOLARSHIP BEGAN IN 2018 AND SERVED 893 STUDENTS DURING THE 2023-24 SCHOOL YEAR. UP TO 95% OF UNUSED FUNDS IN THE HOPE SCHOLARSHIP PROGRAM CAN BE USED TO FUND SCHOLARSHIPS TO STUDENTS ON THE FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM IN THE NEXT STATE OF FLORIDA FISCAL YEAR.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $881,567,760
Program Service Revenue $0
Investment Income $23,015,059
Other Revenue $28,369
TOTAL REVENUE $904,611,188

Expense Breakdown

Grants Paid $1,155,593,322
Salaries & Benefits $35,682,401
Fundraising Expenses $2,016,679
Program Expenses $1,221,707,629
Other Expenses $50,062,790
TOTAL EXPENSES $1,241,338,513

Year-over-Year Comparison

2023 2022 Change
Revenue $904,611,188 $913,033,619 0.0%
Expenses $1,241,338,513 $755,297,200 +0.6%
Net Income $-336,727,325 $157,736,419 -3.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
226
Volunteers
916

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$1,973,792
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN F KIRTLEY BOARD CHAIR 36.00
Director
$0 $0 $0
ALFRED AL LAWSON DIRECTOR 2.00
Director
$0 $0 $0
RICHARD OUTRAM DIRECTOR 2.00
Director
$0 $0 $0
CURTIS STOKES DIRECTOR 2.00
Director
$0 $0 $0
TERRY JOVE DIRECTOR 2.00
Director
$0 $0 $0
JOHN LEGG DIRECTOR 2.00
Director
$0 $0 $0
DENISHA MERRIWEATHER DIRECTOR 2.00
Director
$0 $0 $0
LINH LAM DIRECTOR 2.00
Director
$0 $0 $0
BARON CONCORS DIRECTOR 2.00
Director
$0 $0 $0
KAREN HOBBS DIRECTOR 2.00
Director
$0 $0 $0
DOUG TUTHILL PRESIDENT 36.00
Officer
$312,563 $40,244 $387,537
JOE PFOUNTZ TREASURER & CFO 36.00
Officer
$237,608 $39,456 $303,464
LESLEY SEARCY SECRETARY & CGO 36.00
Officer
$241,973 $13,211 $282,070
SHAFAYET IMAM CIO, SUFS (THRU 05/24) 36.00
Officer
$233,821 $46,525 $306,326
JILL LAROSE CHIEF CULTURE OFFICER 36.00
Officer
$193,861 $20,645 $236,046
ALEXANDER J MANGAN CHIEF PRODUCT OFFICER 36.00
Officer
$132,845 $26,176 $173,781
RUTH ROSE CHIEF CUST. EXP. OFFICER(THRU 09/24) 36.00
Officer
$103,307 $13,038 $127,823
SAMANTHA ESPINOSA CHIEF HUMAN RESOURCES OFFICER 36.00
Officer
$123,619 $19,390 $156,745
ASHA DESHPANDE SR DIR ENT DATA OP STG(THRU 08/24) 36.00
Highest
$192,272 $11,721 $225,360
SUSAN DUGAN VP OF FINANCE (THRU 12/23) 36.00
Highest
$172,044 $10,288 $201,448
CRAIG GONSALVES VP OF IT SOLUTIONS 36.00
Highest
$156,316 $42,871 $216,555
JILLIAN METZ VP OF EXTERNAL RELATIONS 36.00
Highest
$150,365 $28,677 $195,750
SEAN K CHARTIER ARCHITECT, DATA 36.00
Highest
$155,621 $18,473 $191,386
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $904,611,188 $1,241,338,513 $1,488,205,086 $-336,727,325
2023 $913,033,619 $755,297,200 $1,519,328,624 $157,736,419
2022 $821,870,206 $612,990,184 $1,207,920,053 $208,880,022
2021 $988,357,974 $699,663,403 $918,219,749 $288,694,571
2020 $620,704,672 $720,174,387 $590,867,275 $-99,469,715
2019 $717,949,667 $654,788,551 $697,130,640 $63,161,116
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