Northwest Ohio Scrip Association 4435 Nantuckett Drive Toledo, Ohio (419) website:

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1 Northwest Ohio Scrip Association 4435 Nantuckett Drive Toledo, Ohio (419) website: What is scrip? THE NOSA FAQ PACK Scrip is a term, having a military origin, that means "substitute money". When a family purchases scrip, they are purchasing negotiable gift certificates that are used just like cash. National and local merchants issue the scrip (identical in form to their gift certificates) where many families already shop. These merchants want to support not for profit organizations and, in return, ask you to support them by pre-paying for these gift certificates which allow you to shop at their stores. Families can use these gift certificates to purchase everyday expenses like food, gas, clothing and other essentials. With every purchase they earn tuition assistance. This tuition assistance is Free Money -- Money for family spending, which is going to be spent anyway, just done a little differently. How does each purchase earn tuition assistance? NOSA buys the gift certificates at a discount (which varies by merchant) then it sells them to its member organizations at full price. After varying small fee assessments, the difference is then applied by the scrip organization to the purchasing family s tuition assistance account. How does it work? Simple, on or before a designated day each week, a member family submits an order, at a designated location, for the scrip they want with a check. The order is processed and the check is cashed the next morning. The order will be ready for pickup later that week at a designated time and location. What are the fees and how much do I have to pay to start? Normally, a scrip organization will take fixed fee from a family s gross amount of tuition assistance for costs. This is taken from the first dollars of tuition assistance earned. THERE ARE USUALLY NO PREPAID FEES. This minimal fee is designed to, with economy in mind, cover the costs of the extensive hours of data entry and compilation, ing, communication to member families, sorting, shipping, office supplies, copies, maintenance, computer hardware/software maintenance and upgrade as well as other ordinary costs of doing business. How does a member family get its tuition assistance? A scrip organization will issue a check jointly payable to the designated school and the member family, will be drawn and delivered to the member family to be used as partial or full payment of their child s parochial school tuition. If the scrip organization is the school that the member family belongs to then, of course, the

2 assistance will not be issued in the form of check, rather, a credit will be issued to the member family s tuition account. Does the family need to have school aged (or any) children to participate? Usually not, younger families can start generating tuition assistance immediately and roll over their tuition assistance each year (without interest) until they need it to pay tuition. The tuition assistance designation sheet will have, as one of its choices, an option to roll over the tuition assistance to the following year. Also, grandparents, relatives or any family can start an account with a scrip organization, generate tuition assistance and then designate any family and school to receive the tuition assistance that they have generated. Why do merchants participate in the scrip program? A combination of goodwill, competition, profit margin, no credit card transaction fees, time value of money and risk of loss motivates these merchants. These merchants exchange that 2-24% they are sacrificing in profits for the goodwill and patronage given them by the member families. However, each merchant does a financial equation. That is, most likely their profit margin can absorb the amount they are donating to the member families. Further, they are getting their cash up front and thus getting time value on their money while they most likely will not have to honor the gift certificates until months after they are purchased. Further, there is no 3-5% credit card fee on gift certificate purchases so the merchant saves that cost. Also, they are getting a goodwill leg up on the competition that is not participating in the scrip program. Finally, the risk of loss has been transferred to the consumer or bearer of the gift certificate. If the certificate is lost the merchant still keeps the money it was paid ( benefit of loss ). So in reality a participating merchant isn t giving up much. However, it is much more than a merchant who doesn t participate (like Target) and it is a great deal for the member families. We use our credit card for cash back or miles, how is scrip a better deal? This one is easy. Scrip, by far, is a better value for your spending dollar than Discover s cash back bonus or any airline credit card you can use. Take for instance the 1% cash back bonus of Discover. If a member family spends $20, annually in Discover card purchases on its anniversary date the family will get a check for $200. If, however, that family made those same purchases (to the extent it can) with scrip that family will have made an average of 5% and will have generated $1, in tuition assistance. As to any airline card, other than Southwest Airlines, it takes at least 24,000 miles, (or $24,000 charged dollars) to get even one contiguous United States round-trip ticket (during off-peak travel season). That same $24, in expenditures translates into $1, in tuition assistance. That is more than enough to purchase several round-trip airline tickets. Why doesn t my school sell scrip? Some schools do and keep a healthy portion of the tuition assistance generated for the school general fund. Check with your school as to availability and terms of their scrip program. As to the schools that don t have scrip programs, NOSA has learned that most schools concerns range from the fear that their families won t participate to the apprehension that an already over-burdened school staff will not be able to handle the additional work a scrip program brings. One school even went so far as to state that Our families won t take out as many loans from local credit unions or participate in school provided financing. These are unfounded fears. Clearly, successfully managing a scrip program requires time and effort. NOSA can help your group successfully set up and run an effective and efficient scrip program. The parents participation will be guaranteed because of the amount of the incentive.

3 Can I sell the scrip I buy to others? Absolutely. Member families are encouraged to sell scrip to whomever they can. Relatives, friends and coworkers can all help the member family generate tuition assistance by purchasing scrip. Can I use scrip to pay store charge card balances? Some merchants (The Anderson s, J.C. Penney, Marshall Field s & Kohl s) do allow families to do this under the following conditions: That the family make its payment at the store, not by mail; and, if the entire balance is not paid the family is still required to send in (the mail) the minimum monthly payment. Other merchants absolutely forbid payments in this manner. Make sure you check with your merchant before making a large purchase on a store card anticipating generating a large amount of tuition assistance paying off the store charge with scrip. One way to circumvent a store s no scrip on store charges policy is to speak with the store manager before making a large purchase. Tell her that you have enough in gift certificates to make this purchase but you don t have them with you. Ask if you can purchase the large item with a credit card and come back a week later with the gift certificates, get your credit card credited and pay with the gift certificates. Chances are the store manager will agree because she wants a sale and a credit card sale costs them 3-5% on each sale and gift certificates do not (they may not realize you get tuition assistance). Again the best policy is always ask...the worst they can say is no. How can I find out more? Visit our website at for a complete retailer list and retailer information, rules, forms, and contact information. Also, you can NOSA at nwoscrip@yahoo.com and/or call (419) NOSA began to because its simple goal is to ease the familial financial burden of providing their children a quality parochial school education. Also, because NOSA and its members are motivated families who generously volunteer their time towards that end. Further, because, unlike many other scrip programs, NOSA can help design and implement a program for your organization that will reward a member family directly proportional to their participation. Contact NOSA for help in designing and implementing your group s scrip program where you can start earning tuition assistance for your family s parochial school education. Sincerely, Andrew Ranazzi President, NOSA

4 NORTHWEST OHIO SCRIP ASSOCIATION, INC. SAMPLE GENERAL POLICIES FOR FISCAL YEAR 1. In order to participate in the YOUR SCHOOL, PARISH OR PARENTS GROUP ( YSPPG ) tuition assistance incentive program ( Program ) and establish an account, you must attend an orientation meeting and register for an account number (all done simultaneously). These meetings will be offered periodically throughout the year. IS THE OFFICIAL MODE OF COMMUNICATION. IF YOU DO NOT HAVE AN ADDRESS YOU WILL NOT GET EVERY NOTICE ABOUT THE YSPPG PROCEDURES, POLICIES AND DATES (In short, if you don t have an address...get one). 2. The percentage earned on each participating family s account will be held in the Program s bank account. An statement of tuition assistance earned will be sent quarterly (every 3 months). Any discrepancies must be brought to the YSPPG President s attention within 3 days. The amount of tuition assistance earned from each order will be printed on your account label on the order envelope each week. This will be your check against your statement. Your tuition assistance will be given to you in the form a check jointly payable to you and the School of your choice (or credit) sometime after May 1 st. 3. This program is being offered to provide tuition assistance for students of member families. Therefore, the tuition assistance collected by your efforts will only be paid to the School of your choice for tuition and other school fees. If your child does not yet attend school your tuition assistance will be rolled over for use in the following year/s. If your child no longer attends School the tuition assistance held under your account can be transferred to another family s account or, if that is not done by the end of the fiscal year, that amount will be rolled over for use in the following year/s. 4. From the initial tuition assistance generated by a family an amount ($40 or less) will be kept to pay the general operating expenses. Therefore, the percentages on the order form are exactly the amount of Tuition Assistance a family is generating. If Family X generates $1340 in tuition assistance. After May 1 st Family X will get a check jointly payable to their school of choice (or credit) for $ (less the fixed fee of $40 or less) ALL QUESTIONS GO TO YSPPG@yahoo.com 5. One order & One check per participant per week. All certificate orders must be accompanied by a check made payable to YSPPG. This is NOT TAX DEDUCTIBLE because the participants are receiving dollar for dollar value and the YSPPG is NOT a charitable organization but rather is a not for profit organization. If the check is for an incorrect amount the order will be adjusted so that the order may be processed. The check amount stands. Payments to the YSPPG are not to be considered, in any way, donations. 6. Any participant writing a non-sufficient fund check will incur a fee of $ The fee will have to be paid to YSPPG before your next order will be processed. If two NSF checks are tendered during the same fiscal year that participant s privileges will be suspended indefinitely. Money orders will be accepted. NO CASH. Checks are deposited the next morning following your order deadline. ALL QUESTIONS GO TO YSPPG@yahoo.com 7. Order Drop-off: You must drop off your order on or before the designated time at the designated location. After that time the orders will be processed and no new orders will be accepted. Make sure your order is complete with name, phone, total $$$, quantity, account number and address! THE DEADLINE FOR SUBMITTING AN ORDER IS ALWAYS (except Holiday weekends) AT THE SAME DESIGNATED TIME AND LOCATION. ALL QUESTIONS GO TO YSPPG@yahoo.com 8. Order Pick-up: Filled orders and new order forms will be available at the designated time and location. COUNT YOUR ORDER IMMEDIATELY AT THE PICK-UP SITE! If an order is incorrect notify your coordinator immediately to report the discrepancy! Once an order is removed from the pick-up site without notification of any error to the program coordinator the participant is precluded from claiming that the order is incorrect in any way. ALL QUESTIONS GO TO YSPPG@yahoo.com 9. When filling out your order be sure to CALCULATE CORRECTLY. Further, know what merchant s have discontinued their scrip participation (you are notified via and in occasional flyers). If you submit an order that is incorrect in any way the YSPPG will adjust it in a manner that makes the most sense contextually. If you pay too much or order scrip that has been discontinued the YSPPG will adjust your order by substituting the scrip that is most equivalent to the discontinued scrip or, if there is no equivalent, then that family will receive that amount in the grocery scrip that they most often order. THERE WILL BE NO CALLS TO INDIVIDUAL FAMILIES TO CORRECT THEIR ORDER SO CHECK & RE-CHECK YOUR ORDER & YOUR ADDITION BEFORE SUBMITTING IT! 10. THESE GIFT CERTIFICATES ARE THE SAME AS CASH! Neither the YSPPG nor any individual volunteering for or employed by the YSPPG will accept or has any responsibility for lost, stolen or misplaced scrip. ALL QUESTIONS GO TO YSPPG@yahoo.com 11. The program will operate weekly with the exception of the winter holidays, spring break and summer vacation that may be bi-weekly (check your e- mails often for updated pick-up/drop-off schedules). A schedule will be distributed with the certificates at various times throughout the year.

5 YSPPG SAMPLE REGISTRATION FORM Participant Name(s) Address City State Zip Home phone ( ) Work phone ( ) Work phone #2( ) Certificates will be ordered at the designated office of the YSPPG. THE PARTICIPANT HAS READ, DOES UNDERSTAND AND WILL ABIDE BY THE GENERAL POLICIES OF THE YSPPG TUITION ASSISTANCE INCENTIVE PROGRAM. THE PARTICIPANT FURTHER UNDERSTANDS THAT IS THE OFFICIAL COMMUNICATION METHOD OF THE YSPPG AND THAT NOTICES, PROCEDURES, POLICIES AND DATES WILL BE DISTRIBUTED FROM THE ADDRESS YSPPG@yahoo.com Signature Printed name Date