Federal Tax Credit Scholarships
The federal program gives you 10% of every gift to fundraise, verify families, pay schools, and report to Treasury. Theodore turns your schools into fundraisers, runs verification and payments for you, and keeps every dollar in your name.
SGOs and schools that run on Theodore
No major gifts. Every donor gives up to $1,700, and you keep at most 10% to run the whole program. Spreadsheets and a small team were built for a handful of big checks, not thousands of small ones across dozens of schools.
$1,700 a max-credit gift → $170 to run everything: fundraising, verification, payments, receipts and reporting.
A team of one
Most SGOs are adding the federal program with the same staff they have today, and 10% won't pay for new hires.
Spreadsheets can't check
Federal rules mean verifying household income against area median income. Spreadsheets and most existing applications aren't built to check it.
Schools that can't use their money
On 10% you can't afford to advertise. If schools can't see what they've raised, they stop promoting the program.
A board asking which fund
Where does data live, whose name is on the account, and is it audit-ready? You need answers before you sign.
From recent conversations with SGOs preparing for the federal program.
The federal program asks more of every SGO, with less room to pay for it.
Theodore is the purpose-built, white-labeled education funding platform for federal SGOs. It does the work that would otherwise need a back office, so your 10% goes further.
Your schools raise it
Branded giving pages and a live balance for every partner school.
We move it
Income checks, receipts, payouts, and Treasury records, with staff on exceptions only.
You stay in control
Funds are held at our sponsor bank for your program. Every award is your decision.
Your schools raise it
Every partner school gets its own branded giving page and a widget for its website that shows what that school raised. Donors give where they already belong — their school, their parish, their grandkids — and schools watch their balance grow in real time.
School-only giving pages
No other schools in the dropdown.
Live school balance
Raised, fees, and paid, at a glance.
We Verify it
Families apply in minutes. Theodore checks household income against area median income, with identity verification powered by Persona, then sends your staff only the handful that need judgment, like a hardship letter.
Automatic income checks
Compared to AMI.
Exceptions only review
Your team decides edge cases.
We move it
Pay schools by ACH on the schedule you choose — on request, or twice a year. Donors get receipts automatically and can pull them again in April. Reporting is configured to Treasury requirements and can adapt as guidance is finalized.
ACH payouts to schools
Reconciled to each student.
Receipts donors can self-serve
No April phone calls.
You stay in control
Program funds are held with our sponsor bank, Bangor Savings Bank, Member FDIC, under your organization's name for the benefit of your program. Student First Technologies is the technology, not the custodian. You decide every award, what each school sees, and when they're paid. Set your admin fee and an automatic share for greatest need, and Theodore applies it to every gift.
Your named bank account
Monthly statements for your auditor.
Rules applied to every gift
Admin fee and equity split.
Choose how much schools and families take part. You can start with one model and change it as your program grows.
Simplest for families
Schools run it. Families are simply notified.
Eligibility: validated from school data.
Funds: you pay the school directly.
Family role: sees a tuition deduction.
Schools guide. Families opt in and take part.
Eligibility: school provides it to you.
Funds: limited uses, like tutoring.
Family role: opts in and may direct funds.
Families apply and direct funds within program rules.
Eligibility: family submits documents.
Funds: digital wallet to schools and providers.
Family role: picks schools and services.
Treasury is still deciding how donors and SGOs will work together. Our team has operated under the models it's choosing between, and Theodore is configured to each program's rules, so whatever lands is a setting, not a rebuild.
Pre-authorization before a gift
Configurable
Certification number on each gift
Configurable
Receipt-only, minimal treasury role
Configurable
Every SGO picks one. Here's what each choice means for your team, your donors, and your money.
Build it in-house
Hand it to an operator
Run it on Theodore
Who raises the money
Your staff
The operator
Your schools, with their own pages
Who verifies families
Your staff, by hand
The operator
Automatic, staff on exceptions
Whose name is on the account
Yours
Often the operator's
Yours, at our sponsor bank*
Who owns donor relationships
You
The operator
You
Staff you'll need to add
Likely more than 10% covers
None, but you give up control
None for routine work
When Treasury rules change
You rebuild
You wait
We change a setting
Who raises the money: Your staff
Who verifies families: Your staff, by hand
Whose name is on the account: Yours
Who owns donor relationships: You
Staff you'll need to add: Likely more than 10% covers
When Treasury rules change: You rebuild
Who raises the money: The operator
Who verifies families: The operator
Whose name is on the account: Often the operator's
Who owns donor relationships: The operator
Staff you'll need to add: None, but you give up control
When Treasury rules change: You wait
Who raises the money: Your schools, with their own pages
Who verifies families: Automatic, staff on exceptions
Whose name is on the account: Yours, at our sponsor bank*
Who owns donor relationships: You
Staff you'll need to add: None for routine work
When Treasury rules change: We change a setting
*Student First Technologies is a financial technology company, not a bank. Banking services provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass through FDIC insurance coverage is subject to certain conditions.
Gifts can start arriving on day one of the program. Here's how SGOs get live before then.
Pick your model, admin fee, payout schedule, and what schools can see.
Your branded portal, your program account at our sponsor bank*, and your receipt templates.
Every school gets its giving page, its widget, and a short training.
January 1
Donations, verification, and payouts are live, with audit-ready records.
The decisions to make before January 1, from your award model and admin fee to payout timing and paper checks. Built from our team's 10+ years of SGO launches.
Book 30 minutes with our team. We'll map your program, your schools, and your numbers.