Illinois made history by approving $75 million in tax credits to create scholarship funds for private schools. For every dollar a donor gives, they will receive 75% back as a credit on their Illinois income taxes! Donations opened on January 2 and the credits are being claimed fast! Donors must claim their credit through the Illinois Department of Revenue before donating to a Scholarship Granting Organization (SGO). Donations from corporate donors will go to a general fund while individuals can give to an SGO and then select an individual school (like Grace Christian Academy!) or a scholarship organization (like CLEF!) and designate their dollars so that our students receive those scholarship dollars directly.
At Grace Christian Academy, we have partnered with the SGO Empower Illinois. If you are interested in supporting Grace Christian Academy scholarships and reducing your Illinois Income Tax bill, check out the Empower Illinois website for details about how to secure your credit and make a donation. You must first register with mytax.illinois.gov to obtain a pin. This pin then allows you to request your credit with the Department of Revenue. Once the Department of Revenue approves your credit, you will have 60 days to make your donation. The full details are available at: empowerillinois.org/donors/ For families interested in applying for the scholarships, you must also apply through Empower Illinois. Scholarship eligibility is based on family income. Check out the income limits on Grace's tuition page: www.gcachicago.org/tuition.html. This information is also available on the Empower Illinois student page. To apply, you will need a copy of your 2016 or 2017 tax returns, proof of residency (driver's license or utility bill), and your child's birth certificate or passport to submit via an online application portal. Current and potential new students can apply for these scholarships beginning January 31! It is first come, first-serve so apply on DAY ONE! Check out the details and prepare to apply at: empowerillinois.org/students/
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
News/BlogAugust 2020 Update: CategoriesArchives
August 2020
|