To be considered for funding, an educational institution shall qualify as a State-aided educational institution. To qualify as a State-aided educational institution, an educational institution shall submit to the Department the following documentation: Names of the members of an independent governing board for the institution; Proof of status as a nonprofit organization; A copy of the most recent independent annual audit or copies of the most recent internally generated financial statements until the annual audit is available; A detailed operating budget that: For an educational institution other than the Baltimore Zoo, indicates that less than 50 percent of the operating budget comes from State grants; Specifies all sources of income, including: Grants received; Names of granting agencies; and The amount of each grant; and Specifies all expenditures; Plans for the use of any grant funds that may be awarded by the State-Aided Educational Institutions grants program; Evidence of the provision of a direct service to Maryland school groups or to individuals with disabilities, including: Data on age levels of students to be served; Data on the projected number of students and teachers to be served both Statewide and by local jurisdiction; and Plans of the institution to support the Maryland curricular and educational priorities; Evidence of liability insurance coverage; and Evidence that the educational program for which funding is sought is not a new program and can show a track record of success.