"Making the Grade" provides an annual overview of the condition of school finance in all 50 states and the District of Columbia. The data in this edition gives a picture of states' investment in their public school systems in the 2019-20 school year, the historic moment when public education, and society at large, experienced the massive disruption brought on by a worldwide public health crisis. Using this data, the report ranks and grades each state on three measures to answer the key question: how fair is school funding in your state? The three fairness measures are: (1) Funding Level -- cost-adjusted, per-pupil revenue from state and local sources; (2) Funding Distribution -- the extent to which additional funds are distributed to school districts with high levels of student poverty; and (3) Funding Effort -- funding allocated to support PK-12 public education as a percentage of the state's economic activity. The state rankings and grades on these measures provide crucial data a to inform advocates, policymakers, business and community leaders, teachers, parents, and students about the equity and adequacy of public school funding in their state. This report is designed to assist residents working to improve the level and distribution of funding for public school students. [For the 2021 edition of this report, see ED619401.]