; other definitions For purposes of this section— (1) Qualified contribution The term qualified contribution means a charitable contribution (as defined by section 170(c)) to a scholarship granting organization. (2) Scholarship granting organization The term scholarship granting organization means any organization— (A) which— (i) is described in section 501(c)(3) and exempt from tax under section 501(a), and (ii) is not a private foundation, (B) whose exclusive purpose is to provide scholarships for tuition for qualified elementary and secondary education expenses of eligible students, and (C) which meets the requirements of subsection (d). (d) Requirements for scholarship granting organizations (1) In general An organization meets the requirements of this subsection if— (A) such organization provides scholarships to— (i) more than 1 student, and (ii) different students attending more than 1 school, (B) such organization does not provide scholarships for any expenses other than qualified elementary and secondary education expenses, (C) such organization provides a scholarship to eligible students with a priority for students awarded a scholarship the previous school year, (D) such organization does not earmark or set aside contributions for scholarships on behalf of any particular student, (E) such organization takes appropriate steps to verify the annual household income and family size of eligible students to whom it awards scholarships, and limits them to a member of a household with a total annual household income, which does not exceed 200 percent of the median gross income, as determined by the Secretary of Housing and Urban Development, for the purposes of the low-income housing credit under section 42, (F) such organization obtains from an independent certified public accountant annual financial and compliance audits and submits such audits to the Secretary, (G) no officer or board member of such organization has been convicted of a felony, and (H) such organization requires any eligible student who