Georgia GOAL Scholarship Fund
Georgia Private School Tax Credit
THANKS TO THE SUPPORT OF THE ST. BENEDICT’S COMMUNITY, SIGNIFICANT FUNDING HAS BEEN REDIRECTED FOR ST. BENEDICT’S FINANCIAL AID PROGRAM THROUGH THE GEORGIA PRIVATE SCHOOL TAX CREDIT PROGRAM.
St. Benedict’s is proud to participate in the Georgia Private School Tax Credit Program. The St. B’s community has an opportunity to redirect their Georgia tax liability to support independent school education – specifically a St. Benedict’s education. Participation in this program allows us to offer need-based scholarships to new St. Benedict’s students.
What is the Georgia Private School Tax Credit Program?
The state of Georgia sets aside tens of millions of dollars in tax credits for Georgia residents and C Corporations that donate funds to qualified Student Scholarship Organizations (SSOs) each year. The SSOs, which are nonprofit organizations, then grant scholarships for current public-school students and all kindergarten students to attend Georgia private and independent schoolslike St. Benedict’s.
St. Benedict’s has partnered with an SSO called GOAL to administer this special scholarship program. Designating St. Benedict’s as the recipient, a constituent of the school would donate to GOAL in exchange for a tax credit. The donation, in turn, would become a scholarship grant for a student to attend St. Benedict’s.
GOAL will begin accepting applications for 2019 on June 1, 2018. Click on the following link to submit your application https://www.goalscholarship.org/
How does Georgia GOAL work?
Under the law, you can redirect a portion of your Georgia income tax liability to provide financial aid for students of St. Benedict’s. You will receive a tax credit on your state income taxes and a charitable contribution deduction on your federal income taxes for the amount donated. The maximum tax credit-eligible contribution is $10,000 for LLCs, partners in partnerships, and shareholders in S corporations; $2,500 for married couples filing jointly; $1,250 for married couples filing individually; and $1,000 for an individual. Corporations, trusts, and estates can offset up to 75% of their state income tax liability. Please note that a contribution to GOALdesignated to St. Benedict’scannot be counted as a gift to the Acorn Fund Annual Fund.
Who qualifies for the scholarships?
New, incoming students who are currently enrolled in a public school or any rising kindergarten students are eligible to receive these funds, provided they qualify for need-based financial aid at St. Benedict’s. The St. Benedict’s Episcopal School Financial Aid Office distributes the monies raised through this program as part of their Financial Aid service.
How can I submit my forms online?
To donate for the 2019 year, please visit by December 1, 2018.