Giving Families Educational Options and Providing Tax Credits for Supporters
Mater Dei High School and its feeder schools are partnering to create greater access for students to attend Catholic schools. The Scholarship Tax Credit Program enables more low- to middle-income students to attend a school of their choice.
We believe that all students deserve to attend a quality school regardless of their families' financial background.
For more information, contact Mr. Andy Morris, President of Mater Dei High School: firstname.lastname@example.org or (812) 421-5727.
Institute for Quality Education
Attn: SGO Donations
101 West Ohio St
Indianapolis, IN 46204
Taxes applicable: adjusted gross income tax, financial institutions tax, insurance premiums tax
No program limits on the size of contributions to SGOs in a year, but the tax credit amount cannot exceed a taxpayer's state tax liability
Statewide cap: $8.5 million of tax credits per year (qualifying up to $10 million in donations)
The donor can claim a credit of $1,000 (50% of the gift) against his Indiana State Tax liability
The donor may deduct $1,000 (the total gift less the Indiana credit) on his/her Federal Income Tax return (assuming he/she itemizes deductions). If he/she is in the 25% Federal tax bracket, this can reduce his tax liability by $250
$2,000, less $1,000 State tax credit, less $250 Federal tax benefit = $750 net cost to the donor
The Institute for Quality Education will send the donor information on claiming the tax credit
The donor is always encouraged to check with an accountant