Arizona Christian School Tuition Organization 
The information on this page was last updated 3/9/2026. If you see errors or omissions, please email: [email protected]
Summary
Arizona Christian School Tuition Organization (ACSTO) exists to give Arizona students the opportunity to attend a Christian School.
Contact information
Mailing address:
Arizona Christian School Tuition Organization
PO BOX 6580
Chandler, AZ 85246
Website: acsto.org
Phone: 480.820.0403
Email: [email protected]
Organization details
EIN: 860931047
CEO/President: Steve Yarbrough
Chairman: Scott Yarbrough
Board size: 6
Founder:
Ruling year: 1999
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
We see a future when no Arizona family will say, "We wish we could put our children in a Christian School, but we just can't afford it."
Mission statement
ACSTO exists to make Christian Education affordable for everyone through effective implementation of the Arizona Private School Tuition Tax Credit law.
Statement of faith
We believe in the divine inspiration (2 Timothy 3:16), truthfulness (Proverbs 30:5), and authority (John 1:1) of both the Old and New Testament Scriptures in their entirety without error (2 Peter 1:20-21). They are the only written word of God in all they affirm, and the only infallible rule of faith and practice (Romans 10:17).
We believe in the one eternal God (Mark 12:29), Creator and Lord of the universe (Genesis 1:1), always existing in three persons (John 17:11): Father, Son and Holy Spirit, each possessing divine perfection.
We believe God, the Father, is perfect in holiness (Deuteronomy 32:4), infinite in wisdom (Psalm 139:1-16), and measureless in power (Jeremiah 32:17). He concerns Himself mercifully in the affairs of men, hears and answers prayer, and saves all who come to Him by faith through Jesus Christ (Ephesians 1:11).
We believe God, the Son, our Lord Jesus Christ, is God's only begotten Son (Galatians 4:4), conceived by the Holy Spirit (Luke 1:35), born of the Virgin Mary (Matthew 1:20), and is true God and man (Colossians 2:19), and sinless in His life (Hebrews 4:15). We believe in His miracles (Acts 19:11), in His vicarious and atoning death (Romans 3:25) through shed blood (John 19:34), in His bodily resurrection (Matthew 28:1-10), in His ascension to the right hand of the Father (Luke 24:51), and in His personal visible return to the world (Hebrews 9:28) according to His promise.
We believe God, the Holy Spirit, is the third person of the Trinity (Mark 1:10-11) who came from God to convince the world of sin (John 16:8), righteousness, and judgment and to regenerate all who believe in Jesus Christ (Ezekiel 36:25-27). We believe He indwells the believer (1 Corinthians 6:19) and by His present ministry, enables the Christian to live a godly life (Romans 8:4-6), different from the world.
We believe that all men by nature and by choice are perishing because of sin (1 John 1:8). God offers His life to all men (Genesis 6:5), not wishing that any should perish (Acts 17:30) but that all should repent. Those who reject Christ repudiate the joy of salvation and condemn themselves to eternal separation from God (2 Thessalonians 1:8-9). Believers are called upon to proclaim Jesus as the only Savior and to invite all men to respond to Him as Savior and Lord in a wholehearted personal commitment of repentance and faith (Matthew 28:19-20). Those who believe and confess Christ as Lord and Savior (Romans 10:10) will rejoice forever in God's presence (Philippians 3:20-21).
Articles
Donor confidence score
Show donor confidence score details
To understand our donor confidence score, click here.
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 84 of 1435 | 4 of 191 |
| Fund acquisition rating | | 9 of 1435 | 6 of 191 |
| Resource allocation rating | | 85 of 1435 | 8 of 191 |
| Asset utilization rating | | 586 of 1436 | 74 of 191 |
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2020 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 0% | 42% | 2% | 2% | 2% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 0% | 26% | 2% | 2% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 13% | 64% | 62% | 99% | 100% | 100% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 0% | 31% | 3% | 2% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 87% | 36% | 38% | 1% | 0% | 0% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2020 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 99% | 65% | 90% | 93% | 93% |
Spending ratio Spending ratio = Total expenses / Total revenue | 93% | 73% | 84% | 70% | 100% | 102% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 73% | 54% | 63% | 92% | 95% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 7% | 27% | 16% | 30% | 0% | -2% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 6% | 23% | 20% | 29% | 0% | -3% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 1% | 4% | 7% | 5% | 5% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2020 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.54 | 0.62 | 1.04 | 0.69 | 1.55 | 1.57 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.99 | 1.00 | 1.01 | 1.01 | 1.00 | 1.01 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.80 | 0.62 | 1.05 | 0.69 | 1.55 | 1.58 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2020 |
Current ratio Current ratio = Total current assets / Total current liabilities | 2.80 | 0.00 | 144424.62 | 115064.18 | 0.00 | 0.00 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.35 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.98 | 19.31 | 11.44 | 17.32 | 7.72 | 7.57 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2020 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 29% | 0% | 0% | 1% | 0% | 0% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 117% | 161% | 96% | 145% | 65% | 63% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2022 | 2020 |
| Cash | $42,874,650 | $34,910,727 | $27,723,758 | $19,378,313 | $14,314,336 |
| Receivables, inventories, prepaids | $0 | $0 | $0 | $0 | $0 |
| Short-term investments | $1,324,704 | $1,339,852 | $1,157,351 | $1,060,718 | $975,057 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $44,199,354 | $36,250,579 | $28,881,109 | $20,439,031 | $15,289,393 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $122,705 | $138,386 | $152,107 | $98,033 | $129,614 |
| Other long-term assets | $0 | $138,713 | $170,324 | $0 | $0 |
| Total long-term assets | $122,705 | $277,099 | $322,431 | $98,033 | $129,614 |
| Total assets | $44,322,059 | $36,527,678 | $29,203,540 | $20,537,064 | $15,419,007 |
| Liabilities | 2025 | 2024 | 2023 | 2022 | 2020 |
| Payables and accrued expenses | $0 | $251 | $251 | $0 | $0 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $0 | $251 | $251 | $0 | $0 |
| Debt | $6,769 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $138,713 | $170,324 | $0 | $65,000 |
| Total long-term liabilities | $6,769 | $138,713 | $170,324 | $0 | $65,000 |
| Total liabilities | $6,769 | $138,964 | $170,575 | $0 | $65,000 |
| Net assets | 2025 | 2024 | 2023 | 2022 | 2020 |
| Without donor restrictions | $44,315,290 | $36,388,714 | $29,032,965 | $20,537,064 | $15,354,007 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $44,315,290 | $36,388,714 | $29,032,965 | $20,537,064 | $15,354,007 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2022 | 2020 |
| Total contributions | $23,903,745 | $28,287,620 | $28,335,063 | $31,829,955 | $23,658,342 |
| Program service revenue | $13,069,901 | $15,886,697 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $543,381 | $1,218,993 | $171,719 | $24,385 | $34,165 |
| Other revenue | $0 | $0 | $0 | $0 | $0 |
| Total other revenue | $13,613,282 | $17,105,690 | $171,719 | $24,385 | $34,165 |
| Total revenue | $37,517,027 | $45,393,310 | $28,506,782 | $31,854,340 | $23,692,507 |
| Expenses | 2025 | 2024 | 2023 | 2022 | 2020 |
| Program services | $27,241,314 | $24,561,347 | $17,976,973 | $29,403,058 | $22,525,352 |
| Management and general | $167,704 | $1,543,922 | $1,454,727 | $1,742,310 | $1,134,891 |
| Fundraising | $60,933 | $11,932,313 | $579,181 | $610,628 | $560,701 |
| Total expenses | $27,469,951 | $38,037,582 | $20,010,881 | $31,755,996 | $24,220,944 |
| Change in net assets | 2025 | 2024 | 2023 | 2022 | 2020 |
| Surplus (deficit) | $10,047,076 | $7,355,728 | $8,495,901 | $98,344 | ($528,437) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $10,047,076 | $7,355,728 | $8,495,901 | $98,344 | ($528,437) |
Compensation
Compensation data for this ministry has not been collected.
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/9/2026. To update the information below, please email: [email protected]
History
ACSTO was founded in 1998 as the first school tuition organization (STO) in the United States. Although the Arizona Supreme Court upheld the constitutionality of the Individual Scholarship Tax Credit in 1999, when litigation from opponents continued, ACSTO (together with the Institute for Justice and Alliance Defending Freedom) defended the tax credit program for 12 more years. On April 4, 2011, ACSTO finally prevailed when the U.S. Supreme Court ruled in our favor in ACSTO v. Winn.
Since 1998, we have awarded over $346 million in tuition scholarships to 50,000 students attending Christian Schools in Arizona. More than 105,000 visionary taxpayers have made this possible by donating to ACSTO and taking advantage of Arizona's unique opportunity to receive a dollar-for-dollar credit against their state income tax obligation. We are proud to be Arizona's largest STO for the Individual Tax Credit donations.
Today, we are excited to see families all over the United States vigorously pursuing the freedom to choose whatever educational option best meets their children's needs. What began in Arizona more than 25 years ago continues to spread across the country as state after state adopts school choice programs of their own.