A link for online registration for new families will be posted on Friday, February 10, 2023. To find out more information or to schedule a tour contact Mrs. Samantha Anderson at email@example.com.
In 2017, Illinois enacted the Invest In Kids Scholarship Tax Credit Program. This program offers a 75% income tax credit to individuals and businesses that contribute to qualified Scholarship Granting Organizations (SGOs). The SGOs then provide scholarships for students whose families meet the income requirements to attend qualified, non-public schools in Illinois.
An individual or corporate donor will receive a 75% state tax credit on their donation. This means that if a donor contributes $10,000, they will receive a state tax credit of $7,500. Donations by both individual and corporate donors are capped at $1.33 million, i.e. a per-donor tax credit of $1 million. Individual donors can direct their donations to a school or subset of schools of their choice. Corporate donors cannot designate funds. The credit is non-refundable, but can be carried forward for five years.
Individuals may direct donations to a particular school or subset of schools, but NOT to an individual student or group of students. Corporate donors cannot designate their donations. Individuals can direct their donations to the school or schools of their choice when they make a donation to the SGO after they have reserved their credit. However, when reserving a tax credit with the IL Department of Revenue, donors will need to select the region in which their designated school or schools are located.
Information for prospective donors