GRACE Scholars Tax Credit Program
The GRACE Scholars program was created to help qualifying families afford a quality Catholic education while at the same time provide donors with an opportunity to redirect their tax dollars towards Catholic school scholarships.
As a Georgia taxpayer, you can receive a 100% dollar for dollar tax credit against your Georgia taxes which means that you can actually lower the amount you owe to the State by the amount of your donation to GRACE Scholars. In addition, you can also claim your donation to GRACE Scholars as a charitable contribution on your Federal return.
If you typically receive a refund from the State, then you will receive the full amount of your donation back in your refund check. And the best part is that you can designate St. Thomas More as the beneficiary of your GRACE donation. STM will receive 100% of your donation to be used for tuition assistance for our very own families.
So how does this work? This is a very simple process. Start by completing the Georgia Form IT-QEE-TP1 and mail it to the Georgia Department of Revenue. Upon receipt of your approval letter from the GA DOR, you have 60 days to make your gift, but not later than December 31st. You will then send the State’s approval letter, the GRACE designation form (designating STM School) and your contribution check payable to “GRACE Scholars, Inc.” to the GRACE Scholars office. GRACE Scholars will acknowledge your check with a thank you letter and state form SSO1 that you will need for preparing your state income tax return.
Please feel free to contact Ansley Murphey, in the STM school office at 404.373.8456 or firstname.lastname@example.org if you have any questions about the program or the application process.
Thank you, in advance, for your support!