Tax Credit Scholarships INSERT SCHOOL NAME Save the day for a student and save on your taxes A tool to help students access a ADD SCHOOL NAME education Indiana School Scholarship Tax Credit Program INSERT SCHOOL LOGO ID: 768169
Download Presentation The PPT/PDF document "Tax Credit Scholarships" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Tax Credit Scholarships INSERT SCHOOL NAME
Save the day for a student and save on your taxes! A tool to help students access a ADD SCHOOL NAME education Indiana School Scholarship Tax Credit Program INSERT SCHOOL LOGO
School Scholarship Tax Credit Program Encourages Private Donations Through Scholarship Granting Organizations (SGOs) To provide scholarships for eligible students 50% STATE TAX CREDIT! PARTNERSHIP INSERT SCHOOL LOGO
State Tax Credit $15M 2019-20 50% of the value of the donation as a state tax credit The credit is applied toward Indiana Income tax liability No limit on the amount that can be donated by individuals or businesses Credits can be carried forward for 9 years Indiana allocated $15 million in tax credits for this fiscal year (7/1/2019) Claim credit with tax certification number found on receipt letter
For example: $1,000 SEC Donation ($500) Indiana Tax Credit $500 True cost CONSULT YOUR TAX PROFESSIONAL ABOUT HOW THE TAX CREDIT MAY IMACT YOU Indiana Income Tax Liability
Can I deduct my donation on my federal tax return? PLEASE CONSULT A TAX PROFESSIONAL WHO UNDERSTANDS YOUR TAX SITUATION Yes, if you itemize deductions! Donors who itemize will claim 50% of the donation as a charitable contribution. SOME donors who itemize will claim the other 50% as a state tax payment. We have an tool on our website that can help you estimate the out of pocket cost of an SGO donation after credits and deductions. https://www.scholarshipsforeducationchoice.com/donors/true-cost-calculator/
Ways to Give Check – with a completed Donation Form Donate Stocks or Securities (form on website) Make a Qualified Charitable Distribution directly from an IRA (see brochure) Donate Online – use a credit card or a checking account; can setup recurring donations LINK TO SCHOOL WEB PAGE ADD TEXT TO GIVE INFORMATION
Scholarship Recipients Eligibility requirements: Resident of Indiana Between 5 and 22 years of age and enrolled in an eligible school (K-12) Household income below the limits The school determines the scholarship amount, using their financial aid policies. 5-22 K-12
SGO Scholarships Awarded: Scholarships awarded in past 8 years 00 $00,000 $0000 Average Award Average Recipient Family Size/Income: 0/$00,000 INSERT SCHOOL LOGO and SUB SCHOOL STATS (Sub school colors)
INSERT SCHOOL NAME has provided tax credit scholarships totaling INSERT SCHOOL INFO over the past INSERT SCHOOL INFO years. The need is higher than available funds. IMPACT ” Last year was [our daughter's] first year in a private school setting and we saw her flourish. This was the best choice we have made as parents, I just wish it was a little more affordable for some families.” “The opportunity for our children to attend a private school has given our family hope in a brighter future for our children to live and thrive. There is a weight lifted off our shoulders since finances are not the first issue at hand in this situation.”
CALL TO ACTION Make a donation Practice the pitch --- Be comfortable explaining to someone else Talk about the opportunity to those in your circle of influence (tools: brochures, website, video)
Insert School donor video on this page (if they have one)
QUESTIONS? INSERT SCHOOL NAME