You can help now more than ever! The statewide cap on tax credits has increased to $100 million in 2019 from $58 million in 2018. Your tax dollars can provide a Mercy education for more young ladies at St. Vincent’s Academy. Help a Deserving Young Lady by Choosing Where Your Tax Dollars Go Today!
Give a gift of education to a young lady who wishes to attend St. Vincent’s Academy by choosing to redirect all or a portion of your 2019 Georgia State Income Tax liability. It is a quick and easy process!
Q: What is GRACE?
A: GRACE Scholars is a Georgia nonprofit corporation and tax-exempt charity. In 2008 the organization was founded by Archbishop Wilton Gregory of Atlanta and Bishop J. Kevin Boland of Savannah to take advantage of the SSO/tax credit legislation. GRACE has met the requirements for designation as a student scholarship organization (SSO) in Georgia. Because GRACE is an SSO, Georgia taxpayers can redirect part of their tax liability to GRACE and qualify for a generous tax benefit created by the Georgia legislature – a 100% tax credit. As GRACE is a tax-exempt charity (501-c-3 organization), gifts to GRACE also qualify charitable contributions under federal law.
Since 2008 more than 3,000 taxpayers have redirected part of their Georgia income taxes to GRACE which, in turn, has awarded scholarships to students wishing to attend Georgia Catholic Schools. All students receiving GRACE awards have demonstrated financial need.
Q: What is the current cap on tax credits?
$100 million- increased from $58 million in 2018
Q: What are the tax credit amounts by filing status?
Individuals/head of household can redirect up to $1,000 of their Georgia tax liability
Couples filing jointly can redirect up to $2,500 of their Georgia tax liability
C-Corporations can designate up to 75% of their Georgia tax liability
Pass-Through (LLC, S-Corp, Partnerships) can designate up to $10,000
Q: What is the 2019 contribution process?
Step 1: Pre-register with GRACE Scholars today at https://www.gracescholars.org/
For preferred treatment, please submit your pre-registration by December 15, 2018. GRACE will enter pre-registrations into the Georgia Department of Revenue (DOR) online portal on January 1, 2019.
Step 2: Be on the lookout for an approval letter from the DOR in early January 2019.
The letter gives your approval date and the amount of your tax credit.
Step 3: Complete contribution during the 60-day window.
The window starts on the date of approval letter. Contributions cannot be accepted before that date. When the 60-day window closes, the tax credit expires. No extensions are possible.
Q: How do I make a donation?
You may write a check or give online at https://www.gracescholars.org/donate/
You may use a major credit card, debit card or process your check using your bank routing number via the secured online portal.
You may also donate gifts of stocks and mutual funds. Contact David Brown, GRACE Scholars Executive Director, at 404-920-7903.
Q: To whom do I address a check?
Q: Where do I mail a check?
GRACE Scholars, Inc.
2401 Lake Park Drive SE
Smyrna, GA 30080
Contact Diane Ciucevich Parker, SVA Class of 1987, at firstname.lastname@example.org or 912-398-4906.