What is the Qualified Education Expense Credit Program? Saint Francis School offers scholarships to qualified applicants applying to Saint Francis School through the Georgia Qualified Education Expense Credit Program. This program can help us grow our school community and provide the necessary financial support for children who would otherwise not have the means to afford a private school. The state sets aside $58 Million in credits available each year, distributed on a first come first serve basis.
We have partnered with Apogee Georgia School Choice Scholarship Fund, http://apogeescholarships.org/ , a Georgia 501(c) 3 state approved Student Scholarship Organization (SSO), to enable the Saint Francis community to take advantage of this program. Apogee Scholarship Fund is state registered SSO (Student Scholarship Organization) as well as a 501c3 non-profit organization whose primary functions are to facilitate the process of distributing tax credits in exchange for donations and to disburse those funds for private school tuition scholarships.
Thanks to the Georgia Qualified Education Expense Credit Program, you are eligible to receive a dollar-for-dollar state tax credit in exchange for your contribution to a state-approved Student Scholarship Organization, or SSO. This contribution can be designated by the contributing family to be used to fund scholarships for eligible students coming to Saint Francis School from a public school. Maximum contributions are $2,500 for married filing jointly and $1,000 for individuals. Corporations may also contribute and are eligible to receive a tax credit of up to 75% of the corporation’s tax liability.
Why is this important to Saint Francis? By contributing to the Student Scholarship Fund you allow Saint Francis School to use funds set aside for scholarships in other areas of importance to benefit the school. Contributing to the SSO is not meant to replace charitable contributions to our school, but is a simple way to designate your already committed tax dollars to benefit qualified incoming Saint Francis students. Under this law, you can redirect a portion of your Georgia income taxes to provide scholarship assistance to incoming Saint Francis students. You will receive a tax credit at the state level (and a federal income tax deduction), against your Georgia income tax liability for amounts donated. For married couples filing a joint return, the maximum tax credit- eligible contribution is $2,500, $1,000 as an individual, and for a C-Corp, 75% of state tax liability. If you are a C-Corp you will want to complete the necessary paperwork prior to your fiscal Y/E in June.
To receive your tax credit for the current calendar year, it is recommended you submit your online application beginning June 1st. We know the $58 million in available credits will extinguish quite rapidly and we encourage you to discuss with your family and friends who support Saint Francis School so they may take advantage of this opportunity as well.
How do I apply? Beginning on August 1st applications may be made online. Apply Online Once your online application is made a representative from Apogee will contact you with information regarding this procedure and answer any questions you may have.
Thank you for support and commitment to the Saint Francis community. Please let me know if I can answer any further questions for you.
Saint Francis School
Director of Development