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We are a CPA firm that provides financial and accounting advice to school tuition organizations in Arizona  We have compiled recent updates and educational information important to Arizona STOs in the sample newsletter below. If you would like to receive similar free informational newsletters in future quarters, please opt in by emailing us at ullmann@ullmanncpa.com.  

Due Date Reminders

September 30, 2013: FY 2013 Annual Reports are due for each credit for which your organization is certified. The signed engagement letter for your audit or review and agreed-upon procedures engagement should be attached to the report. 

November 15, 2013: Form 990, 990-EZ, or 990-N is due to be filed with the IRS for fiscal years ending June 30, 2013.

December 31, 2013: Audit or review and agreed-upon procedures reports are due to ADOR for FY 2013.

STO Newsletter 
3rd Quarter 2013 

This is a one-time informational email. Email us at ullmann@ullmanncpa.com to receive this free newsletter in the future.

Significant Changes to 2012 Forms 990 and 990-EZ


The IRS has modified the 2012 Forms 990 and 990-EZ to modify and clarify certain reporting requirements based on the feedback it received related to the 2008 redesign of the forms.  The instructions and forms have been modified to include the following changes:

  • Do not include social security numbers on the form since the document is public information.
  • Board members and key employees should report hours worked for all related organizations rather than just for the filing organization.
  • The reconciliation of net assets section is expanded and provides greater clarity.
  • Clarifies what information on management companies should be provided in greater detail.
  • Provides an example of how to report benefits provided through a self-insured medical reimbursement plan.
For explanations of these and the other changes, please visit the IRS website: http://www.irs.gov/pub/irs-tege/2012_Form990_Significant%20Changes.pdf

AICPA Releases New Non-Profit Accounting Guide

The AICPA has updated their Audit and Accounting Guide for Not-for-Profit Entities. This is the first comprehensive revision of the guide since 1996.  The guide provides plain-English explanations, examples, guidance, and recommendations for the unique accounting and reporting requirements for not-for-profit entities. A must-read for all non-profit finance managers.

ADOR Releases Updated STO Manual

The Arizona Department of Revenue has released an updated version of the STO Manual, effective July 1, 2013. The update includes the compliance questionnaire for the year ended June 30, 2013. It also clarifies for organizations when tuition should be paid to schools, how to request determinations of whether a school is qualified, future changes to the credit amounts, and other administrative information.
ADOR also released the FY 2012 Summary of STO Credits in Arizona. The report outlines trends and totals for all Arizona school tuition organizations taken from the fiscal year 2012 reports. The report is a great resource for comparing your organization's performance with other STOs.
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