Start of School Items: Supply Orders Due July 16
$14 MILLION IN 2018-2019 INDIANA TAX CREDITS HAVE BEEN RENEWED!
MAKE YOUR GIFT TODAY BY CLICKING HERE!
|Pending IRS regulation changes the amount eligible for federal tax deduction to 50% of the value of the SGO gift for all SGO gifts made after August 27, 2018. Gifts made on or before August 27, 2018 are eligible for 100% federal tax deduction. All gifts, no matter the date, receive a 50% Indiana state tax credit, so long as credits remain.|
Academic excellence is at the heart of the St. Richard’s experience. We believe that every academically qualified student, regardless of their socioeconomic background, deserves the opportunity to learn, grow, explore, and thrive at St. Richard’s. Because of the generous support of our donors, we are able to provide nearly $1 million in financial assistance each year. Your gifts to our SGO support our efforts to make the St. Richard’s experience available to more students, while providing you with an incredible Indiana tax incentive.
Indiana's Tax Credit Scholarship program was created as a way to give families who meet income guidelines an opportunity to send their child to a participating non-public school, such as St. Richard’s Episcopal School. Donors to the program receive a 50% tax credit on the full value of their gifts and all applicable federal deductions. Students with financial need receive a scholarship to St. Richard’s.
This tax savings opportunity is available to donors making a financial contribution to a qualified Scholarship Granting Organization (SGO). For St. Richard’s, this SGO is the Institute for Quality Education. A donor’s tax credit is equal to 50% of the donation amount.
The Indiana Department of Revenue has allocated $14 million in tax credits for 2018-2019. There are no limits to how much a donor can contribute, provided tax credits remain available.
Giving to our SGO is easy.
If you own appreciated stock, the combination of receiving the 50% Indiana state tax credit while avoiding capital gains taxes is appealing to many donors.
The Institute for Quality Education (IQE) has partnered with the National Christian Foundation for the purposes of accepting stock and mutual fund donations. IQE will immediately liquidate the assets and state tax credits will be based upon the liquidation of the assets minus the transaction fees. Please contact Will Williams in the St. Richard’s Development Office at 317.926-0425 or firstname.lastname@example.org to complete additional documents required for a stock or mutual fund donation via the National Christian Foundation.
Yes! Because gifts to the SGO and the Annual Fund both provide money for financial assistance, we consider your SGO donation to be your gift to the Annual Fund. The SGO is another vehicle for making your annual gift to St. Richard’s.
Many do match, but not all! Please check with your human resources department.
As long as you make your gift before the state credits expire, you will receive them. The Institute for Quality Education will send the certificate and necessary tax documents directly to you in 4-5 business days. St. Richard’s is notified immediately of all gifts.
There are no limits to how much a donor can contribute to a qualified SGO, however, the entire tax credit program cannot award more than the allocated credits. There is no cap on the number of tax credits a donor can secure to the extent they are available.
For more information, please contact Will Williams at 317-926-0425 or email@example.com.