REPORT TO - osfkids · 2018. 1. 10. · Report to Governor and Legislature 2 December18, 2017 - updated January 10, 2018 Every child learns differently. Some students may need special

REPORTTOGOVERNORANDLEGISLATURE

ANOKLAHOMASCHOLARSHIPGRANTINGORGANIZATION

DECEMBER31,2017UpdatedJanuary10,2018

Report to Governor and Legislature December18, 2017 - updated January 10, 2018 2

Every child learns differently. Some students may need special technology or smaller classes. This is why choice is so important, particularly for low- and middle-income families. The issue is not public versus private schools. It is about finding the place where every student learns the best.

Our scholarships are worth up to $5,000, or 80% of the average per-pupil expenditure in the assigned public school district, whichever is greater. For students with special needs who attend a public school with an IEP, the scholarship is worth up to $25,000.

Eligible students must be legal residents who demonstrate financial need or a special learning need or difference. Students must be accepted in a member private school before applying for a scholarship.

Member Schools58 +

Over $9.1millionin Donations

Scholarships Awarded

1,600 +

82%of Scholarship Dollars go to

Lower-Income Students

The Opportunity Scholarship Fund is a scholarship granting organization that provides financial support to Oklahoma K-12 students to attend accredited private schools in our state.

We believe every child deserves the chance to learn in the best school available, based on that child's learning needs.

CHOICE FOR OKLAHOMA FAMILIES

SAVES $1.24 IN STATE SPENDING

EVERY$1 IN TAX CREDITS


FOUR GROUPS THAT BENEFIT FROM TAX CREDIT SCHOLARSHIPS

#1If you are a parent – it will help you afford to send your child to an accredited private K-12 school.

#2If you are a member school – it will allow more families to consider attending your school.

#3If you are a donor – it will offer you generous state tax credits.

#4If you are a taxpayer – it will save you money.

BENEFITS FOR DONORSThe Oklahoma Legislature authorized generous tax credits for donors to scholarship granting organizations (SGOs) like Opportunity Scholarship Fund. SGOs are not-for-profit entities that must expend at least 90% of their revenues on private-school scholarships.

All donors are eligible for Oklahoma tax credits of 50% of the annual donation amount. Donors who pledge in writing to give the same amount over two years will receive a 75% tax credit for both years.

1401 N. Lincoln Blvd., Oklahoma City, OK 73104(405) 602.1667www.osfkids.org

Follow us on Facebook: @OSFkids


ENDORSEMENTFormerSpeakeroftheHouseofRepresentatives

GovernorMaryFallin,StateofOklahomaSenatorMikeSchulz,PresidentProTemporeoftheSenateRepresentativeCharlesMcCall,SpeakeroftheHouseOklahomaStateCapitol2300NorthLincolnBoulevardOklahomaCity,OK73104IamwritingthislettertoendorsetheexpansionoftheOklahomaEqualOpportunityEducationScholarshipAct(the“Act”).IwastheSpeakeroftheOklahomaHouseofRepresentativeswhentheenablinglegislationfortheActwasamendedandimprovedbyHB2643in2014.Thisprogramawardsscholarshipstolow-incomestudentsandgivesthemtheopportunitytoreceiveaspecializededucationatanaccreditedandparticipatingprivateschool.Currently,IamservingasoneoftheBoardofDirectorsfortheOpportunityScholarshipFund(OSF)andIamproudtoprovidemyendorsement.

WhentheActwascreated,thelegislativeintentwastoallotstateincometaxcreditswhichprovidedincentivestogenerateprivatedollarsthatsimultaneouslybenefitedtaxpayers,familiesandthestatebudget.Tomeetthisobjective,theprogramwasintentionallyrestrictedsothatthevalueandoperationscouldbeassessedafterafour-yearperiod.

Uponexaminingthefour-yearassessment,Iampleasedtoreportthatallgoalshavebeenmetandsurpassed.Withthisproofofconcept,Iamnowconvincedthatitistimetoremovetheinitialrestrictionsandallowthisprogramtoreachitsfullpotential.

ThisattachedreportfromthepremierscholarshipgrantingorganizationinOklahomashouldprovidethenecessarydatatojustifyliftingthelimitationsonthisprogram.Pleasedon’tmissanopportunitytoletthisprogramflourishandsignificantlybenefitourstatebudgetandthetaxpayers.

Thankyouforyourconsideration.

Regards,

T.W.ShannonSpeakeroftheHouse2013-2014OSFBoardMember2016-current


ENDORSEMENTSParent,Media,Legislator,Governor,OSFLeadership

PARENT“Thesescholarshipsprovideopportunitiesforchildrenthattheymaynothaveanywhereelse.Icannotspeakforanyotherfamilythatreceivedascholarshiplikethisone,however,Icantellthemwhatadifferenceitmadeinmyson'slife.Icantellthemthathehasabetterchanceofbecomingasuccessfulandproductivememberofsocietyinsteadofastatisticbeinglabelled(sic)adrugabuserwhowouldendupinjailorlivingonthestreetsorpossiblyevendyinganearlydeathbecauseofadrugoverdose.”“Mysonhasreceivedasecondchanceatlife.Hehasgoals.Hehasambitionandmotivationtodobetter.ThisisbecausetheOpportunityScholarshipFundawardedhimthefinancialsupporttoattendMissionAcademyandgetthehelpthatheneeded.Morekidsneedthishelp.Parentsneedthishelp.”MichelleSamoska,August8,2017.MEDIA“Icingonthecakeisthattheprogramincreasesavailablefundsinpublicschools,anditshowswhylawmakersshouldnotonlyincreasethesizeofthescholarshiptaxcreditprogram,butenactadditionalschoolchoicemeasures.”EditorialBoard,TheOklahoman,November10,2017.LEGISLATOR“Itwasanhonortomeetseveralstudentsandparentswhousethesescholarships,”saidstateRep.ForrestBennett,D-OklahomaCity.“TheOpportunityScholarshipFundisagreatbenefitforeducationinOklahoma.”OklahomaFamiliesReceiveMoreThan$1MillionforK-12Scholarships– PressRelease,October2,2017

GOVERNOR“Oklahomaiscommittedtocontinuallyimprovingthequalityofeducationalopportunitiesandempoweringparentsandstudentstochooseeffectiveeducationoptionsthatbestfittheirneedsandacademicgoals.”SchoolChoiceWeekProclamation– January22,2017

OSFLEADERSHIPQ&AwithBoardPresidentCharlieDaniels:Question:“Whatistheonethingyouwanttoaccomplishinthenextyear?”(2018)Answer:“I’dliketoraisethestatutorycapontotaltaxcreditsnextyearandletthisbirdsoar.”OSFNewsletterFall2017


PROGRAMDESCRIPTIONIn2011,theLegislatureauthorizedthecreationofscholarshipgrantingorganizations(SGO),withlimitedtaxcreditstoincentivizetheSGOprogram.Nostateappropriationsareused.TherearecurrentlysixoperatingSGOsserving97accreditedprivateschoolsinthestate.ThelargestisourOpportunityScholarshipFund(OSF)with59memberschools.TherearetwoCatholicSGOsserving34schools.ThreeotherSGOsservefouraccreditedprivateschools.

TheOpportunityScholarshipFundbecameoperationalonJuly1,2014.Sincethatdate,theOSFadded59memberschools;raisedatotalofover$10millionthroughDecember31,2017;andawarded1,675scholarshipsvaluedatover$4.5million.TheOSFisorganizedinamannertooptimizemember-schoolresponsibilityandbenefits,andtominimizecentralauthorityandcontrol.Thismethodofdistributedresponsibility,whilemaintainingcentralstandards,hasprovenhighlyeffective.

2014-17SummaryofOperationsOPPORTUNITYSCHOLARSHIPFUND

2014 2015 2016 2017* TOTALS

Donations $323,955 $1,255,553 $3,397,647 $5,097,284 $10,074,439

Scholarships 3 183 475 1,014 1,675

ScholarshipValue $ 9,413 $443,839 $1,063,364 $3,039,837 $4,556,453

TaxCredits(est.) $161,978 $627,777 $2,541,025 $3,733,284 $7,064,064*unaudited

24Counties32Communities

59MemberSchools

OSF SCHOOLS ARE STATEWIDE(BLUE COUNTIES HAVE ONE OR MORE OSF SCHOOLS)


PROGRAMBENEFITSTheSGOprogrambalancespublic,privateandcommunitysectors,eachdoingwhatitdoesbest.Underthisprogram,donationsfromindividualsandprivatecompaniesarereceivedanddepositedinprivatebanks,administeredbyaprivateorganization(theSGO),withscholarshipsdeterminedbyprivateschoolstobenefitlocalstudentsandfamilies.ThegovernmentauthorizesthestatetaxcreditsandinsuresschoolstandardsandaccountabilityTherearemanyconstituenciesoftheSGOprograms.Everyconstituenthassignificantlybenefitted.NoconstituentwithintheOSFhasbeendisadvantaged.• Students:Therehavebeen1,675scholarshiprecipientsatmemberschools.Anestimated

75%ofthesestudentswouldnotbeattendingmemberschoolswithoutthesescholarshipsandwouldotherwisebeenrolledatpublicschools,increasingtheassociatedcostsfortheirpublic-schooldistrictsandtaxpayers.

• Parents/Families:Everyparticipatingfamilyisthoroughlyvettedtoensurescholarshipfundsareawardedbaseduponfinancialneed.Thescholarshipfundsenablefamilieswithlimitedresourcestoaffordtheeducationalprogramsandenvironmenttheybelievearebestfortheirchildrenandtheirchildren’seducationaldevelopment.

• Donors:Individual,familyandcorporatedonorsreceivedtaxcreditsthroughtheOSFof

approximately$7millionsince2014andanestimated$3.7millionin2017alone.

• Taxpayers:AnindependentFiscalImpactStudycompletedthisyearbyresearchersatOklahomaCityUniversityprovesthatthesescholarshiptaxcreditsresultinactualsavingstothestateofOklahoma.Thestudyshowsthat,foreverydollaroftaxcreditsused,theOklahomataxpayerrealizes$1.24insavingsand,whenallothersourcesofeducationalfundingareconsidered,thestatebudgetwillsave$2.58.

Therefore,thereisrealvalue,bothfinancialandeducational,inremovingallgivingrestrictionsfromthisprogram.PROGRAMSUCCESSESTheOSFisamultimillion-dollarprogramthathasoperatedwithlessthanonefull-timeemployeethrough2017.Theall-volunteerOSFBoardofDirectorsrecentlyvotedtoreducetheorganization’sauthorizedoverheadfrom10%to7.5%ofdonatedfundsanddistributedexcessoperatingfundsfromfiscalyear2016intheformofscholarshipstoitsmemberschools.Thisorganizationisoneofthebeststructuredandmostcost-effectiveprogramsofitskindinthenation.TheSGO/EIGOprogramhasanapprovedstatewideannualtaxcreditcapof$5million.ThegoodnewsisthattheprogramhasquicklybecomesopopularthattheSGOtaxcreditcapwasmetin2016andisexpectedtobeexceededin2017.Thebadnewsisthatfailuretoincrease


thecapwillretardtheprogram'smomentum,frustratethepurposeoftheauthorizingstatute,anddeterimmediatefiscalsavingstothestate.Thereare77non-CatholicaccreditedprivateschoolsinOklahoma.Morethan75%(58)oftheseschoolsareactiveparticipantsintheOpportunityScholarshipFund.Thosethatdonotparticipateeitherhavelittlecapacitytoseatlow-incomestudents;ordonothavethedevelopmentcapacitywithintheirexistingstaffingstructures.The59OSFmemberschoolscollectivelygenerated$3.4millionindonationsin2016,andover$5millionin2017.Thenumbercouldbegreater,butschoolsanddonorsareawareoftheexistingstatewidecapandarecoordinatingtheirefforts.WhenOSFlaunchedinJuly2014,anunexpectedbenefitarose.Itattractedschoolsthatdonotchargetuitionbecausetheyservespecialpopulations.TheseschoolsincludePositiveTomorrows(elementaryschoolforhomelesschildren),TheLittleLightHouse(elementaryschoolsfordevelopmentallychallengedstudents),MissionAcademy(highschoolforstudentsrecoveringfromaddictions),HappyHandsEducationCenter(preschoolandkindergartenforhearingimpairedchildrenandtheirfamilies),andmorerecentlyPathstoIndependence[(autisticchildren).Theavailabilityofthealternativeeducationalprogramsprovidedbyschoolssuchasthesearealsoabenefittopublicschoolsbecausetheyprovideaprivateavenueforchildrenwithspecialneedstoreceivethespecialized/alternativeprogrammingtheyrequire.Thisinturnenablesalreadyover-taxedpublicschoolsystemsandteacherstodevotemoretimeandresourcestotheirmainstreamkids.PROGRAMWEAKNESSES(FAILURES)Nosignificantprogramweaknesses(failures)havebeenidentifiedotherthanlimitationsontheeffectivenessoftheprogramthatarecausedbytheannualstatewidelimitsandcapsondonations,andapplicationofthetaxcreditbenefits.ThecappreventsSGOsfromexpandingthisbeneficialprogramtomorelow-incomefamiliesandfromincidentallyprovidingthestatewithmoresavings.Theapplicationtoonlyincometaxrestrictsthegivingbase.Therearethreesignificantprogramweaknessesthatmayeasilyberemedied.Theyareembeddedinthe2014statuteandinhibittheSGOprogramsfromachievingmuchgreaterpotentialandrelevance.Thefirstpertainstothedefinitionof“low-incomefamilies.Thesecondconcernsthepercentageofscholarshipdollarsawardedto“low-income”families.Thethirdrelatestotheunnecessarylimitationsonstatewidetaxcreditsanddonorgiving.

DefinitionofLow-IncomeItistheintentofthelawthatamajorityofscholarshipsfundsbereceivedby“low-incomestudents.”Thestatutorydefinitionof“low-income”iseligibilityforthe“freeandreducedlunch”(FRL)program,thatisafamilyincomeoflessthan185%offederalpovertylevel(FPL).Wesuggestthatthismetricisartificiallylowandthatafamilyat190%,200%or250%ofFPLislikelytostruggle.


FreeorReducedLunchPercentageLanguageintheenablingstatutesuggestsbutdoesnotmandatethattheSGO’sscholarshipdollarsbeawardedto“low-income”recipientsinthesameproportionasthepercentageofpublicschoolstudentsonthe“freeandreducedlunch”program.Thatstatewidepercentageisareported62%bytheStateDepartmentofEducation.ThepercentageofOSFscholarshipsgrantedtoFRL-eligiblestudentscurrentlystandsat55%.

ThisyearOSFengagedtheservicesofamarketingfirmtohelptargetlowincomefamiliesandeducatethemabouttheavailabilityofthesescholarshipsfortheirchildren,butmeetingthestatewidepercentagecontinuestoprovedifficult.AbigcontributingfactortothisdifficultyisthestatewideFRL-eligiblepercentagereportedbytheStateDepartmentofEducationissomewhatarbitraryandmisleading.

BoththeTulsaandOklahomaCitypublicschooldistrictsprovidefreelunchestoallelementaryschoolstudentsregardlessoffamilyincome.Bothdistrictshaveindicatedtheywouldlikethispolicytobepermanent.

ThispolicyartificiallyinflatesthestatewidepercentageofFRL-eligiblestudents.Also,datareportedbypublicschoolsisofteninflatedforavarietyofadministrativepurposes,nottheleastofwhichisthatpublicschoolsdonotrequireverifiableproofofincome.Thestandardshouldbemodifiedtocreateaflexibilitythatwillbetterreflectreality.Applicationofthegenerallyrecognizedstandardof300%ofFPLforthedefinitionof“lowincome”wouldenableOSFandotherSGOstobroadenthebaseoffamiliesservedwhilestillcarryingouttheoriginalintentandspiritofthescholarshipprogram,whichistoserveprimarilylow-incomefamilies.DonorandTaxCreditLimitationsAnimportantFiscalImpactStudyisattached.ItwasresearchedandpreparedbyRussellEvans,PhDandJacobDearman,PhDoftheStevenC.AgeeResearchCenteratOklahomaCityUniversity.Theiranalysishasproventhatforeverydollaroftaxcreditsused,thestate/localtaxpayerandthestatebudgetwillsave$2.58and$1.24,respectively.Conversely–foreverymilliondollarsoftaxcreditsNOTallowed,thestatebudgetwillforegoasavingsof$250,000andthetaxpayerwillbetaxedanadditional$2.5million.Therefore,thereisrealvalueinremovingallgivingrestrictionsfromthisprogram.

REQUESTEDPOLICYCHANGESOklahomaisoneof18statesthatsponsorataxcreditscholarshipprogram.Notwostatesareidentical,yetallstatessharethreecommoncharacteristics.Theyare:givinglimits,valueoftaxcreditsandscholarshipeligibility.Thecurrentlawimposesacaponthetaxcreditsallowedstatewide,limitsdonorcredits,putsceilingsonscholarshipeligibilityincome,andlimitsthecreditstooffsetincometaxonly.

Thepotentialforthisprogramisestimatedtobemorethan$80million,servingupto30,000low-incomestudents.Suchgrowthrequirestheeliminationofartificialbarriersandlimitations.


TheOklahomaLegislatureshouldremoveallindividualdonationlimitsandstatewidecaps.RemovaloftherestrictionsandlimitswillenableSGOstoexpandtotheirfullpotential,whichinturnwillresultinimmediateandsignificantsavingsforthestateandtheOklahomataxpayer.InlightoftheincludedFiscalImpactStudy,theOSFsuggestsandrequeststhatthecurrentlawbeamendedtoreflectthefollowing:

• TheannualtaxcreditcapforallSGOsiscurrently$5million.AccordingtotheFiscalImpactStudy,itisinthestate'sbestfiscalintereststoremoveallstatewidetaxcreditcaps.

• Currentlawallowsstatetaxcreditsofeither50%or75%ofthedonatedamount,dependinguponthelengthofcommitment.Itisinthestate’sbestfiscalintereststocreatedonation/taxcreditparityofadollarcreditforadollardonation.

• Thecurrenttaxcreditlimitis$1,000forindividuals,$2,000forjointfilers;and$100,000forqualifiedbusinessentities.Itisinthestate’sfiscalintereststoremoveannuallimitationsondonorstoallowtheprogramtogrowandsavethestateanditstaxpayersmoremoney.

• Eligibilityandperformancemetricsrelatedtolow-incomerecipientsshouldberevisedtodefinelow-incomeas300%ofFPLandnottiedtotheFRL-eligibilitypercentagereportedbytheStateDepartmentofEducation

• Thelawlimitsthetaxcreditapplicationtoincometaxesonly.Thetaxcreditapplicabilityshouldbeexpandedtoincludeotherstatetaxes,includingbutnotlimitedtoalcohol,tobacco,insurancepremiums,andeventuallysalestaxes.

REPORTSUMMARYOurOpportunityScholarshipFundhasproventobeamodelpublic-privatepartnership.Theincentivesarewellbalancedforallparties;theneedsbeingmetarereal;theadministrationisleanandthefinancialaccountingandaccountabilityissolid.Thisprogramappearstobebalancedandself-calibratingineveryadministrativeandfiscalmanner.Theonlybarriertogreatersuccessaretheartificiallimitationsplaceduponprogramgiving.Thesewereinitiallyestablishedasamatterofprudence.Duringthisinitialfouryearsofoperation,theprogramnowhasademonstrableandpositive“returnoninvestment”forstatetaxpayers,andstatebudgetalikewithoutdetractingfromotherpublicoperations.Givenourfiscalimpactresearch,itistimetoremoveallsuchgivingbarriersandallowthisprogramtofullymatureandgrowtoitsmaximumsizeandimpact.Itwillbenefiteveryoneandharmnoone.REPORTENCLOSURESFiscal ImpactStudy -AuditedFinancialStatements -ExemptOrganizationTaxReturn -FamilySupportLetters-MediaEditorialSupport

Enclosure1

FISCALIMPACTANALYSISStevenC.AgeeEconomicResearchandPolicyInstitute

FISCAL IMPACT ANALYSIS

OF THE OKLAHOMA EQUAL

OPPORTUNITY

SCHOLARSHIP TAX CREDIT

Prepared by:

Jacob Dearmon, Ph.D.

Director, Center for Data Analytics

Meinders School of Business

Oklahoma City University

Russell Evans, Ph.D.

Executive Director, Steven C. Agee Economic Research and Policy Institute

Meinders School of Business

Oklahoma City University

1

Executive Summary

Established in 2011, the Oklahoma Equal Opportunity Education Scholarship Act

offers state income tax credits to qualifying donations that provide private K -12

school opportunities to primarily low-income Oklahoma families. The purpose of

the program is not to generate a fiscal return to the state, but rather to provide

support to those Oklahoma families for whom modest scholarships tip the balance

of opportunity and allow them to pursue what they judge to be a better education

for their student. Any fiscal savings are secondary to, but a useful and important

by-product of, the program’s primary objective. This memo provides a brief

overview of the program through its initial years as well as an estimate of the fiscal

impact to taxpayers. Among the highlights of the report are:

Oklahoma is one of seventeen states with a tax credit scholarship program

The program is administered for the benefit of participating schools through

state and IRS-recognized 501(c)(3) not-for-profit “scholarship granting

organizations” (SGO)

The program provides a tax credit for qualifying donations as follows:

A credit of 50% for one-time donations and 75% for donations that

pledge the same amount for two years

Tax credits are capped at $100,000 for qualified business donors,

$2,000 for taxpayers filing a joint tax return, and $1,000 for individual

tax filers

The program establishes a total tax credit ceiling of $5,000,000

(recently changed from the original ceiling of $3,500,000); if the

program exceeds the ceiling, all tax credits are reduced proportionally

and the donor is allowed to take the “suspended” credits in the next

immediate tax year.

Participating schools must be accredited by the Oklahoma State Board of

Education or an accrediting association approved by the Board; schools must

meet certain other statutory standards.

2

Students must be a child of school age that is lawfully present in the United

States, resides in the state of Oklahoma, and qualifies for scholarship dollars

in one of three ways:

The most common qualifier is income – students who are members of

an Oklahoma household with annual income below 300% of the free

and reduced lunch eligibility guidelines, or

Students living in the attendance zone of a school designated by the

State Department of Education as “in need of improvement”, or

Students attending public school with an individualized education

program (IEP) or professionally identified learning disability

A thorough review of the donations and scholarships awarded through the

state’s three primary SGOs reveals the following:

Scholarships were first issued in school year 2013-2014 with 396

scholarships distributed at an average scholarship award of $154; the

program grew to 1,459 scholarships to be distributed in school year

2016-2017, at an average award of $1,012

Catholic affiliated SGOs account for 29% of donations with 71% of

donations to non-Catholic affiliated SGOs

Corporate donors account for 62% of all donations followed by

taxpayers filing joint tax returns (33%) and individual tax filers (5%)

The fiscal impact to the state is determined by comparing the tax revenue

foregone through the credit with the tax expenditure as students move out of

the public school system. This impact rests on these assumptions:

The probability that a scholarship recipient would have otherwise

attended public school is 75%; this is markedly more conservative than

the probability assumed in comparable analysis in other states

The state spends $8,093 per pupil from all funding sources (federal,

state, and local) with 48%, or $3,885 per pupil, coming specifically from

state sources.

3

The fiscal return to the Oklahoma taxpayer is $2.58 for every $1.00 of tax

credit issued, while the savings specific to the state’s funding is $1.24 for

every $1.00 of tax credit issued

4

Introduction

The Oklahoma Equal Opportunity Education Scholarship Act (the “Act”), enacted in

2011, provides private K -12 school opportunities to primarily low-income

Oklahoma families from qualified donations to authorized scholarship granting

organizations (SGO) that certify state income tax credits for Oklahoma individuals

and qualified business entities. SGOs award grants, based on policies established

by its member schools, for families whose children would be better served in an

alternative educational environment. For many families, the scholarship received

is often the gap funding necessary to allow a child to attend an accredited private K-

12 school. For these children who would otherwise be attending public school, the

state is exchanging foregone tax revenue in the form of income tax credits for

foregone expenditures in the form of per pupil state funding. This study follows

closely the approach of the Florida Legislature’s Office of Program Policy Analysis

and Government Accountability in estimating the fiscal returns to Oklahoma from

this tradeoff.1

Background

The Act allows qualified donations to be credited against Oklahoma income tax.

The tax credits are equal to 50% of the qualifying donation for a one-time donation

and 75% of the qualifying donation for a donation commitment of the same amount

for two years. Individual income tax credits are limited to $1,000 for individual

income tax filers, $2,000 for taxpayers filing a joint income tax return, and $100,000

for qualified business entities. The total tax credit program is currently capped at

$5,000,000 annually, recently changed from the original ceiling of $3,500,000. All

claimed credits are reduced proportionally if qualifying credits exceed the tax credit

ceiling. However, the donor is allowed to take the “suspended” credits in the next

immediate tax year when the tax credit ceiling is exceeded.

1 The Florida report can be found here http://www.oppaga.state.fl.us/reports/pdf/0868rpt.pdf.

http://www.oppaga.state.fl.us/reports/pdf/0868rpt.pdf

5

The Oklahoma tax credit program is administered through a handful of SGOs on

behalf of qualified participating schools. These not-for-profit organizations are

approved by the Oklahoma Tax Commission, the IRS, and the Office of the

Secretary of State as designated to collect and direct donations to participating

schools selected by the donor. The donor may direct donations to a specific school,

but not to a specific student.

Students qualify for scholarship dollars in one of three ways.

First, and most common, are students who are legal residents and are

members of an Oklahoma household with annual income below 300% of the

free and reduced lunch eligibility guidelines.

Second, students qualify if they live in the attendance zone of a school

designated by the State Board of Education as “in need of improvement.”

Finally, students who attended a public school with an individualized

education program (IEP) or have been identified through specific programs

and/or clinical professionals as having significant disability that affects

learning will qualify.

Having met the terms of admittance to an accredited private school of the family’s

choice, the school works with the student’s parents to determine eligibility of

financial assistance through this program. If a determination of eligibility is made

and a grant for assistance recommended, the school forwards the application and its

recommendations to the SGO for final review, approval and funding.

In order to participate in the program, a school must be accredited by the Oklahoma

State Board of Education or an accrediting association approved by the Board. The

private schools must also be in compliance with all applicable health and safety

codes, have a stated policy against discrimination and ensure academic

accountability through regular progress reports.

6

Private school enrollment in Oklahoma is approximately 36,000 students while

public schools in the state enroll about 694,000 students. In other words, private

schools account for approximately 5% of statewide enrollments. Oklahoma’s share

of private school enrollment is lower than the national average of 9% of all pre-k to

12th grade students being enrolled in private schools. Oklahoma’s scholarship tax

credit program, as currently constituted, is relatively modest in scope serving

roughly 1,500 students in the 2016-2017 school year. For these students, small

scholarships are often the meaningful dollars at the margin that allow for the

family to bridge the affordability gap and choose an educational environment better

suited for their child. Oklahoma is one of seventeen states with similar scholarship

tax credit programs with a brief comparison between the programs of each state

provided by the National Conference of State Legislatures.2

The Oklahoma scholarship program has grown from modest beginnings with the

first scholarships awarded for the 2013-2014 school year to activity levels nearing a

steady state. For the purposes of this report, data was collected from and reviewed

for the state’s three primary scholarship granting organizations covering nearly all

of the scholarships awarded in the state. The individual level donation and

scholarship data reveal 396 scholarships awarded in 2013-2014 with an average

scholarship value of $154. By the 2016-2017 school year the number of scholarships

awarded had grown to 1,464 with an average scholarship amount of $1,012.

2 A comparison can be found here: http://www.ncsl.org/research/education/school-choice-scholarship-

tax-credits.aspx

http://www.ncsl.org/research/education/school-choice-scholarship-tax-credits.aspx

http://www.ncsl.org/research/education/school-choice-scholarship-tax-credits.aspx

7

For the most recent calendar year (2016) reviewed in the data, total donations

reached $4,762,061 and are projected to provide 1,328 tax credits totaling

$3,426,674. The 2016-2017 school year operations reflect an average tax credit of

$2,580 and a program that is quickly approaching the original annual cap of

$3,500,000. In total, the data suggest an average effective tax credit of 72%

reflective of the reality that many of the donations, and especially the larger

donations from businesses, are two-year commitments.

The donations and scholarship data provided represent the state’s largest

scholarship granting organization, the Opportunity Scholarship Fund as well as two

smaller, Catholic-school specific funds in Oklahoma City and Tulsa.3 Donations to

the Catholic affiliated SGOs accounted for 29% of all donations with non-Catholic

affiliated donations accounting for 71% of the $4,762,061 total.

3 For SGO specific information see: https://goforcatholicschools.com/; http://osfkids.org/; and

http://cfook.org/programsevents/catholic-schools-opportunity-scholarship-fund

2013-2014 2014-2015 2015-2016 2016-2017

# of Scholarships 396 680 905 1459

Avg. Scholarship $154.29 $551.27 $1,187.36 $1,012.24

396

680

905

1459

$154.29

$551.27

$1,187.36

$1,012.24

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

0

200

400

600

800

1,000

1,200

1,400

1,600

Av

era

ge

Sch

ola

rsh

ip A

mo

un

t

Nu

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er o

f S

ch

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ips

Scholarship Award History

https://goforcatholicschools.com/

http://osfkids.org/

http://cfook.org/programsevents/catholic-schools-opportunity-scholarship-fund

8

Of the $4,762,061 in donations reviewed, 62% originated with corporate donors

while 38% originated with individual or joint taxpayers.

Corporate donors represent a relatively small share (11%) of the total donor pool

but a relatively large share (62%) of total donations. This reality is to be expected

given the contrast between the maximum corporate tax credit of $100,000 and the

maximum tax credit of $2,000 for joint filers.

A similar pattern emerges in the tax credit claims. Corporations claim only 11% of

the tax credits, but those claims represent 64% of the credit value.

29%

71%

Donations by SGO Affiliation

Catholic

Non-Catholic

62%

33%

5%

Dollars Donated by Donor Type

Corporate

Joint

Individual

9

11%

63%

26%

Number of Tax Credits Claimed

Corporate

Joint

Individual

64%

32%

4%

Dollar Value of Tax Credits Claimed

Corporate

Joint

Individual

10

The Fiscal Impact of Scholarship Tax Credits

The fiscal impact to the state is determined by the tradeoff of foregone tax revenue

and foregone per pupil expenditures. It should be noted explicitly that the purpose

of the program is not to avoid education expenditures. Rather, the purpose is to

provide support to those Oklahoma families for whom small scholarships tip the

balance of opportunity and allow them to pursue what they judge to be a better

education for their student. Any fiscal savings are secondary to, but an important

by-product of, the program’s primary objective.

State fiscal savings are difficult to estimate precisely given the state’s complex

school funding formula and the mix of state, local, and federal funds that support

per pupil expenditures. We use as our baseline measure of per pupil expenditures

$8,093 and estimate that approximately 48% of the funding originates with state

sources. These assumptions are driven by, and consistent with, the state’s publicly

available data and recent work to review the state’s funding formula.4

The fiscal impact of the program hinges on a few key parameters considered in turn

below.

First is the program cap. An increase in the program cap of $5,000,000 would

allow for the program to extend scholarships to more low-income or otherwise

qualified students. Holding all other influences constant, this would extend

the fiscal gains across a wider base and increase the net savings to the state.

Second is the tax credit. An increase in the tax credit increases the foregone

revenue to the state from the program. Holding all other influences constant,

this would decrease the fiscal savings per student and lower the fiscal returns

to the state.

4 For the per pupil expenditure baseline, see https://sdeweb01.sde.ok.gov/OCAS_Reporting/ and for a

review of the state funding formula see Schlomach’s 2015 primer found here

http://nebula.wsimg.com/8ba0eca558707fea11c13b77d204083d?AccessKeyId=CB55D82B5028ABD8B

F94&disposition=0&alloworigin=1.

https://sdeweb01.sde.ok.gov/OCAS_Reporting/

http://nebula.wsimg.com/8ba0eca558707fea11c13b77d204083d?AccessKeyId=CB55D82B5028ABD8BF94&disposition=0&alloworigin=1

http://nebula.wsimg.com/8ba0eca558707fea11c13b77d204083d?AccessKeyId=CB55D82B5028ABD8BF94&disposition=0&alloworigin=1

11

Third is the per pupil expenditure. An increase in the per pupil expenditure

increases the foregone, or avoided, state expenditures and, holding all other

influences constant, would increase the net fiscal returns to the state.

Fourth is the number of scholarships awarded. An increase in the number of

scholarships awarded provides opportunities for more Oklahoma families to

exercise educational choice, which was the Legislature’s purpose for enacting

the Act in 2011. Holding all other influences constant this would increase the

number of students removed from the state’s funding mechanism and

increase the net returns to the state.

Fifth, the estimated fiscal returns are governed by the assumed probability

that the student would not have attended private school in the absence of the

scholarship. If a student would have attended private school regardless, the

scholarship award reduces tax revenue by virtue of the credit but does not

change the education expenditures as that student was already not included

in the funding calculus. Holding all other factors constant, an increase in the

probability that the student would have otherwise attended public school will

increase the fiscal returns to the state.

Previous fiscal assessments have assumed that the scholarship pool is almost

universally unserved by the existing private school systems. The Florida report

that most closely resembles this analysis assumed 90% of the scholarship recipients

would have otherwise attended public schools. An update to the original report

found that only 5% of current students attending private schools would qualify for

the scholarships under their program and increased to 95% the probability that a

given scholarship recipient would have otherwise attended public school.5 Given

the absence of additional information, we conservatively use 75% as our baseline

estimate that a given scholarship recipient would have otherwise attended public

school while the remaining 25% would have attended private schools regardless.

5 The updated 2010 memo can be found here

http://www.fldoe.org/core/fileparse.php/5423/urlt/OPPAGA_March_2010_Report.pdf while the

original 2008 analysis can be found here http://www.oppaga.state.fl.us/reports/pdf/0868rpt.pdf.

http://www.fldoe.org/core/fileparse.php/5423/urlt/OPPAGA_March_2010_Report.pdf

http://www.oppaga.state.fl.us/reports/pdf/0868rpt.pdf

12

Fiscal savings are reported both on a net savings and on a fiscal return basis

expressed as a ratio. The net savings in the table below reports the difference

between the estimated tax expenditures avoided (1,459 scholarships awarded x 75%

of the students that would have otherwise attended public school x the state’s 48%

portion of the per pupil expenditures, or $4,251,161) and the tax revenue foregone

($3,426,674 in tax credits). The fiscal return ratio measure is similar but divides

the expenditures avoided by the revenue foregone giving the dollar returns to the

state for every $1 in foregone tax revenue. The net savings and fiscal return are

reported for both the 48% of the state’s share of funding and the full burden of per

pupil expenditure by all Oklahoma taxpayers.

FISCAL SAVINGS FROM STATE FUNDING ONLY

Education Savings - School Year 2016 Amount

Number of Scholarships ¹ 1,459

% of Students who would have otherwise attended public school ² 75%

Savings per recipient ³ $3,885

Total Educational Savings $4,251,161

Revenue Lost - Calendar Year 2016 Amount

Estimated Tax Credits ⁴ $3,426,674

Ratio $1.24

Net Savings $824,487

FISCAL SAVINGS FROM ALL FUNDING SOURCES

Education Savings - School Year 2016 Amount

Number of Scholarships ¹ 1,459

% of Students who would have otherwise attended public school ² 75%

Savings per recipient ³ $8,093

Total Educational Savings $8,855,765

Revenue Lost - Calendar Year 2016 Amount

Estimated Tax Credits ⁴ $3,426,674

Ratio $2.58

Net Savings $5,429,091

1 - number of scholarships awarded by schools participating in the three

primary scholarship granting organizations

2 - conservative baseline estimate of the share of scholarship recipients that

would have attended public school but for the scholarship received

3 - estimated expenditure per pupil is $8,093/student based Oklahoma

Department of Education information. The state’s portion of per pupil funding

of this portion of expense is 48%, or $3,885.

4 - estimated state income tax credits issued in 2016 based on donations

received from the three primary scholarship granting organizations

5 - net savings equals total educational savings less tax credits issued

13

Using the full value of Oklahoma’s per pupil expenditures of $8,093 yields a net

public saving of $5,429,091 – a return ratio of $2.58 dollars saved for every $1 in tax

credits claimed. Applying this same formula only to the state’s share of per pupil

expenditures of $3,885 ($8,093 x 48%), the fiscal return to the state is a net saving

of $824,487 for a return ratio of $1.24 dollars saved for every $1 in tax credits

claimed. These findings are consistent both with previous efforts to estimate the

fiscal impact of scholarship tax credit programs in other states and the best practice

guidelines suggested by the National Conference of State Legislatures.6 The

savings estimate will vary with assumptions made on the baseline state

expenditures avoided and the probability that the student would have otherwise

attended public school in the absence of the scholarship. The tables in appendix A

illustrate the potential range of savings.

Conclusion

The SGOs established through the Oklahoma Equal Opportunity Scholarship Tax

Credit Act issued their first scholarships for the 2013-2014 school year. During that

inaugural year 396 scholarships were provided at an average scholarship value of

$154. The program has grown since the first year issuing 1,459 scholarships at an

average value of $1,012 in school year 2016-2017 and is rapidly approaching the

original tax credit cap for the program of $3,500,000.

The program’s primary intent is to help low-income students, special needs

students, and students at underperforming public schools by providing scholarships

to make alternative education options affordable. At the margin, these scholarship

dollars often make the difference in allowing students to move to private schools

offering educational environments more suited to the student’s needs.

6 See Fiscal Impact of Vouchers and Scholarship Tax Credits,

http://www.ncsl.org/research/education/fiscal-impact-of-school-vouchers-and-scholarship-tax-

credits.aspx.

http://www.ncsl.org/research/education/fiscal-impact-of-school-vouchers-and-scholarship-tax-credits.aspx

http://www.ncsl.org/research/education/fiscal-impact-of-school-vouchers-and-scholarship-tax-credits.aspx

14

An important secondary impact of the program is the fiscal savings to the state, as

expenditures avoided more than offset the foregone tax streams from the tax

credits. A careful review of the donations and scholarships provided through the

state’s three largest scholarship granting organizations suggests a fiscal saving of

$2.58 for every $1 in claimed income tax credits when all funding sources are

included. Fiscal savings solely to the state budget are estimated at $1.24 for every

$1.00 of tax credit issued.

15

Appendix

The fiscal returns to the state vary with public school attendance probabilities and

state education expenditures. Increases in state expenditures increase fiscal

returns as do increases in the probability that the recipient would have otherwise

attended public school. Previous work summarized by the National Conference of

State Legislatures recommends an attendance school probability of 90% while

recent work in Florida uses a value of 95%. This report uses a more conservative

estimate of 75% suggesting the baseline fiscal returns provided may be understated.

Total Education Savings

Probability of Student Attending Public School

60% 65% 70% 75% 80% 85% 90% 95%

Ex

pe

nd

itu

re

per S

tud

en

t

$4,000 $74,926 $366,726 $658,526 $950,326 $1,242,126 $1,533,926 $1,825,726 $2,117,526

$4,500 $512,626 $840,901 $1,169,176 $1,497,451 $1,825,726 $2,154,001 $2,482,276 $2,810,551

$5,000 $950,326 $1,315,076 $1,679,826 $2,044,576 $2,409,326 $2,774,076 $3,138,826 $3,503,576

$5,500 $1,388,026 $1,789,251 $2,190,476 $2,591,701 $2,992,926 $3,394,151 $3,795,376 $4,196,601

$6,000 $1,825,726 $2,263,426 $2,701,126 $3,138,826 $3,576,526 $4,014,226 $4,451,926 $4,889,626

$6,500 $2,263,426 $2,737,601 $3,211,776 $3,685,951 $4,160,126 $4,634,301 $5,108,476 $5,582,651

$7,000 $2,701,126 $3,211,776 $3,722,426 $4,233,076 $4,743,726 $5,254,376 $5,765,026 $6,275,676

$7,500 $3,138,826 $3,685,951 $4,233,076 $4,780,201 $5,327,326 $5,874,451 $6,421,576 $6,968,701

$8,000 $3,576,526 $4,160,126 $4,743,726 $5,327,326 $5,910,926 $6,494,526 $7,078,126 $7,661,726

Education Returns (savings per dollar spent)

Probability of Student Attending Public School

60% 65% 70% 75% 80% 85% 90% 95%

Ex

pe

nd

itu

re

per S

tud

en

t

$4,000 $1.02 $1.11 $1.19 $1.28 $1.36 $1.45 $1.53 $1.62

$4,500 $1.15 $1.25 $1.34 $1.44 $1.53 $1.63 $1.72 $1.82

$5,000 $1.28 $1.38 $1.49 $1.60 $1.70 $1.81 $1.92 $2.02

$5,500 $1.41 $1.52 $1.64 $1.76 $1.87 $1.99 $2.11 $2.22

$6,000 $1.53 $1.66 $1.79 $1.92 $2.04 $2.17 $2.30 $2.43

$6,500 $1.66 $1.80 $1.94 $2.08 $2.21 $2.35 $2.49 $2.63

$7,000 $1.79 $1.94 $2.09 $2.24 $2.38 $2.53 $2.68 $2.83

$7,500 $1.92 $2.08 $2.24 $2.39 $2.55 $2.71 $2.87 $3.03

$8,000 $2.04 $2.21 $2.38 $2.55 $2.72 $2.90 $3.07 $3.24

Enclosure2

AUDITEDFINANCIALSTATEMENTCCKStrategies,CertifiedPublicAccountants&Consultants

OPPORTUNITY SCHOLARSHIP FUND, INC.

FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS’ REPORT

DECEMBER 31, 2016

OPPORTUNITY SCHOLARSHIP FUND, INC.

Table of Contents

Page

INDEPENDENT AUDITORS’ REPORT 1

FINANCIAL STATEMENTS Statement of Financial Position 3 Statement of Activities and Changes in Net Assets 4 Statement of Cash Flows 5 Notes to Financial Statements 6

Certified Public Accountants & Consultants

8811 S. Yale Ave., Ste. 400Tulsa, OK 74137

918-491-4036www.cckcpa.com

1

INDEPENDENT AUDITORS’ REPORT

The Board of Directors Opportunity Scholarship Fund, Inc. Oklahoma City, Oklahoma

We have audited the accompanying financial statements of Opportunity Scholarship Fund, Inc. (a nonprofit organization), which comprise the statement of financial position as of December 31, 2016, and the related statements of activities and changes in net assets and cash flows for the year then ended, and the related notes to the financial statements.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

2

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Opportunity Scholarship Fund, Inc. as of December 31, 2016, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Tulsa, Oklahoma August 11, 2017

CCK Strategies, PLLC

OPPORTUNITY SCHOLARSHIP FUND, INC. STATEMENT OF FINANCIAL POSITION

DECEMBER 31, 2016

See Notes to Financial Statements and Independent Auditors’ Report 3

ASSETS

CURRENT ASSETSCash 3,375,119$ Promises to give, net 3,148,011

Total current assets 6,523,130

Total assets 6,523,130$

LIABILITIES AND NET ASSETS

CURRENT LIABILITIESHeld on behalf of others 6,044,358$

Total current liabilities 6,044,358

NET ASSETSUnrestricted 338,809 Temporarily restricted 139,963

Total net assets 478,772

Total liabilities and net assets 6,523,130$

OPPORTUNITY SCHOLARSHIP FUND, INC. STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2016


CHANGES IN UNRESTRICTED NET ASSETSRevenue and other support:

Administrative fee revenue 338,426$ Interest income 890 Realized loss from sale of donated investments (1,265)

Total unrestricted support 338,051

General and Administrative Expenses:Contract Labor 17,500 Accounting fees 4,330 Advertising 24,292 Bank charges 140 Dues and subscriptions 240 Information technology 250 Travel 2,159 Insurance 2,604 Other 65

Total general and administrative expenses 51,580

Increase in unrestricted net assets 286,471

CHANGES IN TEMPORARILY RESTRICTED NET ASSETSContributions 130,045

Increase in temporarily restricted net assets 130,045

CHANGE IN NET ASSETS 416,516

NET ASSETS - beginning of year 62,256

NET ASSETS - end of year 478,772$

OPPORTUNITY SCHOLARSHIP FUND, INC. STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2016


CASH FLOWS FROM OPERATING ASSETSChange in net assets 416,516$ Adjustments to reconcile change in net assets to net cash

provided by operating activities:Changes in operating assets and liabilities

Promises to give (68,184) Funds held on behalf of others - cash received 2,983,976 Funds held on behalf of others - cash disbursed (1,063,094)

NET CASH PROVIDED BY OPERATING ACTIVITIES 2,269,214

NET INCREASE IN CASH 2,269,214

CASH, beginning of year 1,105,905

CASH, end of year 3,375,119$

OPPORTUNITY SCHOLARSHIP FUND, INC. NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2016

6

NOTE A - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Organization and Purpose Opportunity Scholarship Fund, Inc. (OSF) is a scholarship-granting organization as defined under the Oklahoma Equal Opportunity Education Scholarship Act (the Act). As a scholarship-granting organization, OSF awards educational scholarships to eligible students attending qualified schools as defined in the Act. Oklahoma taxpayers receive a tax credit, as defined in the Act, for their charitable contributions to OSF. Basis of Accounting The accompanying financial statements have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Net Assets Net assets, revenue and expenses are classified based on the existence or absence of donor-imposed restrictions. Net assets of OSF and changes therein are classified into the following three categories: These classifications are defined as follows:

Unrestricted net assets are free of donor-imposed restrictions; all revenues and expenses that are not changes in permanently or temporarily restricted net assets are unrestricted net assets.

Temporarily restricted net assets are limited by donor-imposed stipulations that either expire with the passage of time or that can be fulfilled or removed by actions of OSF pursuant to those stipulations. Temporarily restricted net assets consists of donor-imposed funds designated for educational scholarships for which the donor has not specified the intended beneficiary.

Permanently restricted net assets are limited by the donor-imposed stipulations that neither expire with the passage of time nor can be fulfilled or otherwise removed by actions of OSF. OSF has no permanently restricted net assets as of December 31, 2016.

Funds Held on Behalf of Others Educational scholarships where the beneficiary has been specified by the donor are treated as agency transactions and are not reported as revenues or expenses in the statement of activities unless OSF has variance power with respect to the determination of the beneficiary. Variance power is the unilateral ability to redirect the use of the transferred assets to another beneficiary. A liability has been established for amounts in which the donor has specified the intended beneficiary and for which OSF does not maintain variance power.

OPPORTUNITY SCHOLARSHIP FUND, INC. NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2016

7

NOTE A- ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) Recognition of Revenues Contributions received are recorded as unrestricted, temporarily restricted or permanently restricted support, depending on the existence and/or nature of donor restrictions on the use of contributions to provide scholarships at the organization’s discretion of participating eligible schools. OSF reports contributions of cash as temporarily restricted support to the extent that the donor obligates such contributions for the provision of scholarships but does not specify the intended beneficiary. When a scholarship is paid, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions. Under the Act, OSF is allowed an administrative fee on all current year contributions and cash received for funds held on behalf of others. OSF assessed an administrative fee of 10% of the funds collected from inception to December 31, 2016. Subsequent to year-end, the Board of Directors approved a reduction in the administrative fee to 7.5% of funds collected. Promises to Give Under the Act, any taxpayer who makes a contribution to an eligible scholarship-granting organization and makes a written commitment to contribute the same amount for an additional year receives an additional credit in the taxable year that the commitment is made. The commitments qualify as unconditional promises to give and are recorded when the promises are received. OSF uses the allowance method to determine uncollectible promises to give. The allowance is based on current economic conditions, historical collection rates, and specific identification of uncollectible accounts. As of December 31, 2016, OSF provided an allowance for uncollectible promises to give of $64,245. Income Taxes OSF is exempt for federal income tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes is included in the financial statements. OSF is required to file annual information tax returns. OSF evaluates its uncertain tax positions, if any, on a continual basis through review of their policies and procedures, review of their regular tax filings and discussions with outside experts. Management has determined that OSF had no uncertain tax positions that require adjustment to the financial statements.

OPPORTUNITY SCHOLARSHIP FUND NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2016

8

NOTE A- ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentrations of Credit Risk The Federal Deposit Insurance Corporation (FDIC) currently insures up to $250,000 of substantially all depository accounts held at each financial institution. At December 31, 2016, OSF’s cash deposits exceeded the federally insured limits. OSF has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk. NOTE B - SUBSEQUENT EVENTS OSF has evaluated subsequent events and their related disclosure through the audit report date which coincides with the financial statement issuance date and identified no such events.

Enclosure3

EXEMPTORGANIZATIONTAXRETURNCCKStrategies,CertifiedPublicAccountants&Consultants

Gross receipts

Check if applicable:

Application pending

Amended return

terminated

Initial return

Name change

Address change

www.irs.gov/form990.

$

Is this a group return for subordinates? Yes No

NoYes

Form of organization: Corporation Trust Association Other Year of formation: State of legal domicile:

Prior Year Current Year

Beginning of Current Year End of Year

Net A

sset

s or

Fund

Bala

nces

Final return/

OPPORTUNITY SCHOLARSHIP FUND

1401 N LINCOLN BLVD STE 200

OKLAHOMA CITY OK 73104

46-4511347

ROBERT SELLERS1401 N LINCOLN BLVD STE 200OKLAHOMA CITY OK 73104

3,383,889

X

XOSFKIDS.ORG

X 2014 OK

SEE SCHEDULE O

8800

00

1,330,203 3,045,836338,426

-3730

1,330,203 3,383,889443,839 1,063,094

011,000 17,500

00

8,050 34,080462,889 1,114,674867,314 2,269,215

1,105,903 3,375,1180 0

1,105,903 3,375,118

ROBERT SELLERS EXECUTIVE DIRECTOR

JEFFREY A. FRABLE, CPA 09/19/17 P01015862

CCK STRATEGIES, PLLC 73-15281948811 S YALE AVE STE 400TULSA, OK 74137-3552 918-491-4036

X

OPPORTUNITY SCHOLARSHIP FUND 46-4511347

X

SEE SCHEDULE O

X

X

1,089,545 1,063,094 338,426THE FUND PROVIDES EXCITING NEW BENEFITS FOR OKLAHOMA STUDENTS, FAMILIES,SCHOOLS, AND DONORS. THE FUND EMPHASIZES SCHOLARSHIP HELP FOR LOW- ANDMIDDLE-INCOME OKLAHOMA STUDENTS. STUDENTS AND FAMILIES NOW HAVE MOREAFFORDABLE SCHOOL CHOICE THAN EVER. ACCREDITED PRIVATE SCHOOLS NOW HAVE APOWERFUL TOOL FOR BUIDLING TUITION SCHOLARSHIP CAPACITY. PARTICIPATINGDONORS AND SPONSORS WILL NOW BE ELIGIBLE FOR GENEROUS OKLAHOMA TAX CREDITS.IN 2016 A TOTAL OF 469 SCHOLARSHIPS WERE AWARDED TO OKLAHOMA STUDENTS BYPARTICIPATING SCHOOLS VIA FUNDS RECEIVED BY OPPORTUNITY SCHOLARSHIP FUNDAND DISTRIBUTED TO PARTICIPATING SCHOOLS.

1,089,545

If “Yes,”complete Schedule A

Schedule B, Schedule of Contributors

If “Yes,” complete Schedule C, Part I

If "Yes," complete Schedule C, Part II

If "Yes," complete Schedule C,

If“Yes,” complete Schedule D, Part I

If “Yes,” complete Schedule D, Part IIIf “Yes,”

complete Schedule D, Part III

If “Yes,” complete Schedule D, Part IV

If “Yes,” completeSchedule D, Parts XI and XII

If “Yes,” complete Schedule E

If “Yes,” complete Schedule F, Parts II and IV

If “Yes,” complete Schedule F, Parts III and IV

If “Yes,” complete Schedule D, Part V

If "Yes,"complete Schedule D, Part VI

If "Yes," complete Schedule D, Part VII

If "Yes," complete Schedule D, Part VIII

If "Yes," complete Schedule D, Part IXIf "Yes," complete Schedule D, Part X

If "Yes," complete Schedule D, Part X

"Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional If

If “Yes,” complete Schedule G, Part I

If "Yes," complete Schedule G, Part II

If "Yes," complete Schedule G, Part III

Part III

If “Yes,” complete Schedule F, Parts I and IV


XX

X

X

X

X

X

X

X

X

X

X

X

XX

X

X

XXX

X

X

X

X

X

X

(continued)

If "Yes," complete Schedule L, Part IVIf "Yes," complete

Schedule L, Part IV

If “Yes,” complete Schedule L, Part IV If “Yes,” complete Schedule M

If “Yes,” complete Schedule MIf “Yes,” complete Schedule N,

Part IIf "Yes,"

complete Schedule N, Part II

If “Yes,” complete Schedule R, Part IIf “Yes,” complete Schedule R, Parts II, III,

or IV, and Part V, line 1

If “Yes,” complete Schedule R, Part V, line 2

If “Yes,” complete Schedule R,Part VI

If “Yes,” complete Schedule L, Part I

through 24d and complete Schedule K. If “No,” go to line 25aIf “Yes,” answer lines 24b

If “Yes,” complete Schedule I, Parts I and II

If “Yes,” complete Schedule I, Parts I and III

If "Yes," complete Schedule J

If "Yes," complete Schedule L, Part I

If “Yes,” complete Schedule L, Part III

If “Yes,” complete Schedule R, Part V, line 2

If "Yes," complete Schedule L, Part II

If “Yes,” complete Schedule H


X

X

X

X

X

X

X

X

X

X

X

XX

X

X

X

X

XX

X

X

X

e-file

If “No” to line 3b, provide an explanation in Schedule O

If "No," provide an explanation in Schedule O


60

0

X

X

XX

X

X

For each "Yes" response to lines 2 through 7b below, and for a "No"response to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

If “Yes,” provide the names and addresses in Schedule O(This Section B requests information about policies not required by the Internal Revenue Code.)

If “No,” go to line 13

If “Yes,”describe in Schedule O how this was done

(explain in Schedule O)


X

8

8

X

XXXX

X

X

XX

X

X

X

XX

XXX

XX

X

OK

X X

ROBERT SELLERS 1401 N LINCOLN BLVD STE 200OKLAHOMA CITY OK 73104 918-602-1667

employeeHighest compensated


CHARLES DANIELS

PRESIDENT2.000.00 X X 0 0 0

BRANDON DUTCHER

VICE-PRESIDENT2.000.00 X X 0 0 0

MARK STEPHEN

SECRETARY/TREASURER2.000.00 X X 0 0 0

MICHAEL CARNUCCIO

DIRECTOR1.000.00 X 0 0 0

TODD KOLCZUN

DIRECTOR1.000.00 X 0 0 0

BRITTONI LANTZ

DIRECTOR1.000.00 X 0 0 0

MICHAEL LAPOLLA

DIRECTOR1.000.00 X 0 0 0

T.W. SHANNON

DIRECTOR1.000.00 X 0 0 0

ROBERT SELLERS

EXECUTIVE DIRECTOR30.000.00 X 16,500 0 0

(continued)

If “Yes,” complete Schedule J for such individual

If “Yes,” complete Schedule J for suchindividual

If “Yes,” complete Schedule J for such person

(A)Name and business address Description of services

(B) (C)Compensation

employeeHighest compensated


16,500

16,500

0

X

X

X

0

Government grants (contributions)All other contributions, gifts, grants,and similar amounts not included above

Noncash contributions included in lines 1a-1f:

Prog

ram

Ser

vice R

even

ue

Less: rental exps.Rental inc. or (loss)

Gross amount fromsales of assetsother than inventoryLess: cost or otherbasis & sales exps.

Gross income from fundraising events(not includingof contributions reported on line 1c).See Part IV, line 18

Gross income from gaming activities.See Part IV, line 19


3,045,836

3,045,836

ADMINISTRATIVE FEE REVENUE 338,426 338,426

338,426

-373 -373

3,383,889 338,426 0 -373

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).

Do not include amounts reported on lines 6b,7b, 8b, 9b, and 10b of Part VIII.

Grants and other assistance to domestic organizationsand domestic governments. See Part IV, line 21

Grants and other assistance to foreignorganizations, foreign governments, and foreignindividuals. See Part IV, lines 15 and 16

Compensation not included above, to disqualifiedpersons (as defined under section 4958(f)(1)) andpersons described in section 4958(c)(3)(B)

Pension plan accruals and contributions (includesection 401(k) and 403(b) employer contributions)

Professional fundraising services. See Part IV, line 17

Other. (If line 11g amount exceeds 10% of line 25, column

Other expenses. Itemize expenses not coveredabove (List miscellaneous expenses in line 24e. Ifline 24e amount exceeds 10% of line 25, column(A) amount, list line 24e expenses on Schedule O.)

Total functional expenses. Add lines 1 through 24e

fundraising solicitation. Check here if

organization reported in column (B) joint costsfrom a combined educational campaign and

following SOP 98-2 (ASC 958-720)

Joint costs. Complete this line only if the

(A) amount, list line 11g expenses on Schedule O.)


1,063,094 1,063,094

16,500 16,500

1,000 1,000

4,330 4,330

24,292 24,292380 380250 250

2,159 2,159

2,604 2,604

MISCELLANEOUS 65 65

1,114,674 1,089,545 25,129 0


1,105,903 3,375,118

1,105,903 3,375,118

0 0X

139,397 412,410966,506 2,962,708

1,105,903 3,375,1181,105,903 3,375,118


3,383,8891,114,6742,269,2151,105,903

3,375,118

X

X

X

X

X

(Form 990 or 990-EZ)

document?listed in your governing(iv) Is the organization

Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.


X

Public support. Subtract line 5 from line 4.

Calendar year (or fiscal year beginning in)

Calendar year (or fiscal year beginning in)


248,305 1,330,203 3,045,836 4,624,344

248,305 1,330,203 3,045,836 4,624,344

4,624,344

248,305 1,330,203 3,045,836 4,624,344

-373 -373

4,623,971338,426

X

exclusively

exclusivelynonexclusively



X 3

X


PAGE 1 OF 2

46-4511347

1

135,000

X

2

133,333

X

3

133,333

X

4

133,000

X

5

133,000

X

6

100,000

X


PAGE 2 OF 2

46-4511347

7

100,000

X

8

100,000

X

9

90,000

X

10

70,000

X



(continued)OPPORTUNITY SCHOLARSHIP FUND 46-4511347

(Column (b) must equal Form 990, Part X, col. (B) line 12.)





X

(This must equal Form 990, Part I, line 12.)

(This must equal Form 990, Part I, line 18.)


338,052

338,052

3,045,8373,045,8373,383,889

51,580

51,580

1,063,0941,063,0941,114,674

PART X - FIN 48 FOOTNOTE

OPPORTUNITY SCHOLARSHIP FUND EVALUATES ITS UNCERTAIN TAX POSITIONS, IF ANY,

ON A CONTINUAL BASIS THROUGH REVIEW OF THEIR POLICIES AND PROCEDURES,

REVIEW OF THEIR REGULAR TAX FILINGS AND DISCUSSIONS WITH OUTSIDE EXPERTS.

MANAGEMENT HAS DETERMINED THAT OPPORTUNITY SCHOLARSHIP FUND HAD NO

UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL

STATEMENTS.

PART XI, LINE 4B - REVENUE AMOUNTS INCLUDED ON RETURN - OTHER

TEMPORARILY RESTRICTED CONTRIBUTIONS $ 3,045,837

PART XII, LINE 4B - EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER

(continued)OPPORTUNITY SCHOLARSHIP FUND 46-4511347

GRANTS & OTHER ASSISTANCE $ 1,063,094

(c) IR

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46-4511347

X


46-4511347

SCHOLARSHIPS FOR STUDENTS469

1,063,094

PART I, LINE 2 - PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS

ELIGIBILITY IS REVIEWED FOR ALL APPLICANTS. A STUDENT MUST BE A LEGAL

RESIDENT OF THE UNITED STATES, LIVE IN OKLAHOMA, AND HAVE BEEN ACCEPTED BY

AN ACCREDITED OKLAHOMA PRIVATE SCHOOL FOR THE SCHOOL YEAR. A STUDENT MUST

MEET ONE OF THE FOLLOWING THREE CRITERIA: LIVE IN A FAMILY WITHIN THE

ADJUSTED GROSS INCOME GUILDLINES; OR ATTEND, OR LIVE IN THE ATTENDANCE

ZONE, OF A PUBLIC SCHOOL DESIGNATED AS "IN NEED OF IMPROVEMENT" BY THE

STATE BOARD OF EDUCATION OR; ATTEND AN OKLAHOMA PUBLIC SCHOOL WITH AN

INDIVIDUALIZED EDUCATION PROGRAM.

at www.irs.gov/form990


FORM 990 - ORGANIZATION'S MISSION

THE OPPORTUNITY SCHOLARSHIP FUND IS A SCHOLARSHIP GRANTING ORGANIZATION

THAT PROVIDES SCHOLARSHIPS TO OKLAHOMA K-12 STUDENTS TO ATTEND ACCREDITED

PRIVATE SCHOOLS IN OUR STATE. ONCE A STUDENT HAS RECEIVED A SCHOLARSHIP,

THAT STUDENT AND HIS OR HER SIBLINGS REMAIN ELIGIBLE UNTIL HIGH SCHOOL

GRADUATION OR AGE 21, WHICHEVER IS LATER.

FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990

THE TAX RETURN WAS FORWARDED BY THE EXECUTIVE DIRECTOR TO ALL BOARD MEMBERS

FOR THEIR REVIEW BEFORE THE RETURN WAS E-FILED.

FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY

IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN

INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND

BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS

AND MEMBERS OF COMMITTEES WITH BOARD DELEGATE POWERS CONSIDERING THE

PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL

INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE

INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OF DIRECTORS OR COMMITTEE

MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND

VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A

CONFLICT OF INTEREST EXISTS.

FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION

ALL ORGANIZING DOCUMENTS ARE AVAILABLE TO BE VIEWED BY THE PUBLIC GIVEN


SUFFICIENT NOTICE.

PAGE 1 OF 1

INTEREST / DIVIDEND INCOME$ 890 18

TOTAL $ 890

TEMPORARILY RESTRICTED CONTRIBUTIONS

$ 1,918,170

THE RIVERSIDE GROUP INC

CASH CONTRIBUTION

135,000

GAFP, INC

CASH CONTRIBUTION

133,333

BC & GS, LLC

CASH CONTRIBUTION

133,333

QUAIL CREEK BANK

CASH CONTRIBUTION

133,000

HASKELL LEMON CONSTRUCTION CO

CASH CONTRIBUTION

133,000

STRESSCON, INC

CASH CONTRIBUTION

100,000

WYMER BROWNLEE

CASH CONTRIBUTION

100,000

JASCO PRODUCTS COMPANY LLC

CASH CONTRIBUTION

100,000

FUGITT INVESTMENTS, LLC

CASH CONTRIBUTION

90,000

NEUROSURGICAL SPECIALISTS OF TULSA

CASH CONTRIBUTION

70,000

TOTAL

$ 3,045,836

INTEREST / DIVIDEND INCOME

$ 890

LOSS ON SALE OF INVESTMENTS

-1,263

TOTAL

$ -373

ADMINISTRATIVE FEE REVENUE

$ 338,426

TOTAL

$ 338,426

Enclosure4

FAMILYENDORSEMENTSScholarshipRecipientFamilies

“Thisscholarshipallowsmydaughter,Hope,toreceivetheeducationIbelieveonlyHappyHandsEducationCentercanprovideher.ThescholarshipreducesthefinancialstressmyhusbandandIfaceasparentsofaspecialneedschild.”–ValarieCannon,Tulsa

“TheOpportunityScholarshipfundallowedmysontohaveanopportunitytocompletehishighschooleducationinanencouragingandsupportiveenvironment,Ifitwasn'tforthescholarshiphemaynothavehadthatopportunity.HegraduatedfromMissionAcademythispastMayandislookingforwardtohisfuture.”–MichelleSamoska,OklahomaCity

“Asyoucanimagine,itisveryexpensivetohavefourkidsinaprivateschool.Weliveaverymodestlife,or“nofrills”aswecallit.Wedonottakeexpensivevacations,liveinahugehouse,drivenewcars,orevenhavecable.Weareverycarefulwithourfinancesandstrivetobegoodstewards.Eveninourcarefulbudgeting,thetuitionfor(privateschool)isstilloutofreachforus.Itisjustnotpossible,inthisseasonoflife,withoutthescholarshipprogram.”–TheMcGeefamily,OklahomaCity

“Whenitcametimetoenrollforthe2016-17schoolyear,webegansearchingforalternativestoprivateschool.Ourincomehaddecreaseddramaticallythisyearduetothedownturnintheoilindustry.WeknewthatwewantedourchildrentocontinuetheirChristianeducation,butwedidn’thavethemeanstocontinuetuitionpayments.TheOSFscholarshipmetourneedandwewillbeabletocontinueourchild’sChristianeducation,andweareverygrateful.”–JaredJewell,MooreOK

“Thisscholarshipmakesitpossibleformydaughters(10th&12thgrades)tocontinuetheireducationatChristianHeritageAcademy.Thisschoolhasmadeahugeimpactonthelivesofmydaughters.Theteachershavetakenaninterestinmydaughters’lives,whichhasbeencrucialtothemoverthispastyear,withtheirdadhavingpassedawayearlylastyear.”–DeannaFisher,OklahomaCity

“Webelievethatthescholarshipamountof$2,400istheamounttheLordprovidedandisaconfirmationofHisprovisionforourfamily’sneed.Thisscholarshiphelpsmakethebalanceoftuitionmoremanageable.–AusmusFamily,DelCity

“Iamasinglemom,ateacher,andthisyearIhavebeenagraduatestudent,workingonmymastersinEducationalLeadership.(Myson)wasawayfromyourschoolforayear,andwasabletograduatelastyear,thankstothescholarshipprogram.(Mydaughter)wasoutfortwoyears.Shewasbulliedatpublicschoolandalsohadstarteddownthewrongpath.ImadeadecisiontodowhatIhadtodotomakesurethatshewasabletoattend(yourschool).WithherfatherandIbeingdivorced,(yourschool)helpedtostabilizemychildrenduringanextremelyhardcircumstance.”–Anonymous,Norman

Enclosure5

MEDIAEDITORIALSUPPORT

Scholarshiptaxcreditprovidingvaluetostudents,OklahomastatefinancesTheOklahomanEditorialBoard,November10,2017

Havingfacedmultipleyearsofbudgetshortfalls,lawmakersneedtomaximizeeverydollaravailable.ArecentreportshowstheOklahomaEqualOpportunityEducationScholarshipActhasdonejustthat.It'sataxbreakthatallowslower-incomestudentstoattendprivateschools,andhaseffectivelyincreasedavailablepublicschooldollars.Enactedin2011,theactprovidesstateincometaxcreditstothosewhodonatetoscholarshipfundsthathelpmostlylow-incomestudentsattendprivateschools.AnewreportbyJacobDearmon,directoroftheCenterforDataAnalyticsattheMeindersSchoolofBusinessatOklahomaCityUniversity,andRussellEvans,executivedirectorofOCU'sStevenC.AgeeEconomicResearchandPolicyInstitute,analyzestheprogram'sfinancialimpactonstateresources.

Undertheprogram,scholarshipdonorsreceiveataxcreditequalto50percentofone-timedonationsand75percentformulti-yeardonations.Thecreditsarecappedat$100,000forqualifiedbusinessdonors,$2,000fortaxpayersfilingajointtaxreturn,and$1,000forindividualtaxfilers.Theprogramhasa$5millionannualcaponcreditsthatcanbeissued.

ThetaxcreditscholarshipsmustgotostudentswhoareeithermembersofanOklahomahouseholdwithannualincomebelow300percentofthefree-and-reduced-luncheligibilityguidelines,liveintheattendancezoneofaschooldesignatedas"inneedofimprovement"bythestateDepartmentofEducation,orhavebeenidentifiedashavingalearningdisability.

Theprogramfunded396studentscholarshipsinthe2013-2014schoolyearandhasgrownto1,459scholarshipsinthe2016-2017schoolyearatanaverageawardof$1,012each.

DearmonandEvanscomparedtheamountofforegonetaxrevenuewithmoneythestatewouldhaveotherwisespenteducatingscholarshiprecipients.Theiranalysisassumed75percentofthemostlylow-incomescholarshiprecipientswouldhaveotherwiseattendedapublicschoolifnotfortheprogram,aconservativeassumptionbasedonanalysesconductedinotherstates.

Basedonpublicdata,theypegtotalper-pupilspendinginpublicschoolsat$8,093perstudentfromallfundingsources(federal,stateandlocal)andestimate48percent,or$3,885perpupil,comesspecificallyfromstatesources.

In2016,thestateprovided$3.4millioninscholarshiptaxcredits.Yethad75percentofscholarshiprecipientsattendedpublicschools,thestatewouldhavespent$4.2millioneducatingthosestudents.That'sanetgainof$824,487forthepublic-schoolsystem.

Onceyouaccountforspendingfromallsources,publicschoolswouldhavespentmorethan$8.8millioneducating75percentofscholarshiprecipients.Thatmeansthetaxcreditprogramhasfreedupmorethan$5.4millionnetinthepublic-schoolsystem.

ThetaxcreditprogramhasallowedsomeofOklahoma'sneediestchildrentoleavebadschoolsandattendprivateschools.Thisaloneisavictory.Icingonthecakeisthattheprogramincreasesavailablefundsinpublicschools,anditshowswhylawmakersshouldnotonlyincreasethesizeofthescholarshiptaxcreditprogram,butenactadditionalschoolchoicemeasures.

Documents

REPORT TO - osfkids · 2018. 1. 10. · Report to Governor and Legislature 2 December18, 2017 - updated January 10, 2018 Every child learns differently. Some students may need special