GRACE Scholars
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In the midst of a global pandemic, you can count on one thing to remain certain - St. Anne-Pacelli Catholic School remains committed to forming knowledgeable, faithful and responsible Catholic citizens who compassionately serve others. The need to support our students, current and new, has never been greater. Some of our families have been adversely affected by the economic environment our country is in due to the COVID-19 pandemic, and students seeking a Catholic education need financial support. GRACE Scholars fulfills this need and is a critical piece of our tuition assistance portfolio.
Since GRACE Scholars was established in 2009, $1,067,515.00 in contributions has been designated to help students attend St. Anne-Pacelli Catholic School. It is now time to register for 2022 tax credits! Visit www.gracescholars.org and select the "Register Now for 2022" button on the left side of the home page. Your donation is not due until 60 days after you receive your letter of approval from the Georgia Department of Revenue. Say Yes to GRACE! Say YES to helping deserving students enjoy the blessings of a Catholic education! Say YES to a moment of personal empowerment and give witness to religious freedom by redirecting your taxes to a cause you cherish! Register today for 2022! To learn all of the details about the law, the pre-registration process, making a contribution, and GRACE Scholars, Inc., please visit www.gracescholars.org or contact St. Anne-Pacelli Catholic School Director of Advancement Tiffany Shreve at 706-561-8232 ext. 323 or tshreve@sasphs.net. |
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Frequently Asked Questions
What is GRACE Scholars?
GRACE Scholars (GRACE) is a nonprofit charity that supports Catholic schools, including St. Anne-Pacelli, in the state of Georgia. GRACE is a designated student scholarship organization (SSO) in Georgia which allows Georgia taxpayers who donate to GRACE the ability to receive a 100% tax credit on state income taxes - You are telling the state of Georgia how to spend your tax dollars! Thanks to the Georgia State Legislature, the statewide cap on tax credits increased to $100 million in 2019 from $58 million in 2018, and will remain at $100 million until 2028. In 2019 and 2020, of the over 20 SSOs in the state of Georgia supporting Georgia private schools, the $100 million cap was not met. That means that there were state tax credits available to taxpayers and tuition assistance money available to our school that we did not claim! Please help us claim it this year!
How does it benefit me?
With GRACE, you are able to make a significant donation to St. Anne-Pacelli Catholic School with money you are already paying in the form of taxes. It is your chance to tell the state of Georgia how to spend your tax dollars.
How does it benefit St. Anne-Pacelli?
Donations to GRACE Scholars designated for St. Anne-Pacelli Catholic School are used for tuition assistance for families who demonstrate financial need and meet the state guidelines for SSO awards. Every year we have more requests for tuition assistance than we have funds available to award. GRACE funds help more families be able to afford St. Anne-Pacelli. There are currently 32 students ranging from 5th grade to 12th grade who are receiving GRACE Scholars awards at St. Anne-Pacelli. Increased enrollment means St. Anne-Pacelli can provide more courses, programs and activities for all of our students.
How does it work?
There are three easy steps:
1) Get pre-approved by the state of Georgia for your contribution. To get approved, visit www.gracescholars.org and register for your 2022 tax credit online. When completing the registration form, remember to designate your contribution to St. Anne-Pacelli!
2) Approximately two weeks after completing your registration, you will receive an approval letter from the state. You will then have 60 days to make your contribution to GRACE Scholars.
3) When you file your 2022 state income taxes (in early-2023), you will receive a dollar-for-dollar credit on your taxes for your contribution.
What is the difference in a tax credit and a tax deduction?
A tax credit is significantly more beneficial than a deduction. A credit reduces your Georgia taxes dollar-for-dollar. A deduction reduces the taxable income to which the applicable tax rate is applied.
How much can I contribute?
Why do I have to do this now?
There is a $100 million statewide cap on this tax credit program. Once pre-approvals have been issued for that amount, the tax credits are no longer available. As of January 31st, approximately $18 million remains available.
GRACE Scholars (GRACE) is a nonprofit charity that supports Catholic schools, including St. Anne-Pacelli, in the state of Georgia. GRACE is a designated student scholarship organization (SSO) in Georgia which allows Georgia taxpayers who donate to GRACE the ability to receive a 100% tax credit on state income taxes - You are telling the state of Georgia how to spend your tax dollars! Thanks to the Georgia State Legislature, the statewide cap on tax credits increased to $100 million in 2019 from $58 million in 2018, and will remain at $100 million until 2028. In 2019 and 2020, of the over 20 SSOs in the state of Georgia supporting Georgia private schools, the $100 million cap was not met. That means that there were state tax credits available to taxpayers and tuition assistance money available to our school that we did not claim! Please help us claim it this year!
How does it benefit me?
With GRACE, you are able to make a significant donation to St. Anne-Pacelli Catholic School with money you are already paying in the form of taxes. It is your chance to tell the state of Georgia how to spend your tax dollars.
How does it benefit St. Anne-Pacelli?
Donations to GRACE Scholars designated for St. Anne-Pacelli Catholic School are used for tuition assistance for families who demonstrate financial need and meet the state guidelines for SSO awards. Every year we have more requests for tuition assistance than we have funds available to award. GRACE funds help more families be able to afford St. Anne-Pacelli. There are currently 32 students ranging from 5th grade to 12th grade who are receiving GRACE Scholars awards at St. Anne-Pacelli. Increased enrollment means St. Anne-Pacelli can provide more courses, programs and activities for all of our students.
How does it work?
There are three easy steps:
1) Get pre-approved by the state of Georgia for your contribution. To get approved, visit www.gracescholars.org and register for your 2022 tax credit online. When completing the registration form, remember to designate your contribution to St. Anne-Pacelli!
2) Approximately two weeks after completing your registration, you will receive an approval letter from the state. You will then have 60 days to make your contribution to GRACE Scholars.
3) When you file your 2022 state income taxes (in early-2023), you will receive a dollar-for-dollar credit on your taxes for your contribution.
What is the difference in a tax credit and a tax deduction?
A tax credit is significantly more beneficial than a deduction. A credit reduces your Georgia taxes dollar-for-dollar. A deduction reduces the taxable income to which the applicable tax rate is applied.
How much can I contribute?
- Owners of interests in pass-through entities (‘S’ corporation, LLC or partnership)—lesser of tax liability or $10,000. May not also apply for single or married limits. *NEW This Year* If you give at the entity level you are eligible to give up to 75% of your estimated tax liability like a 'C' corporation is eligible to do. We'd love to help you through this process and maximize your giving to St. Anne-Pacelli while lessening your tax burden!
- ‘C’ corporation and taxable trusts – up to 75% of estimated tax liability.
- If you are married, filing jointly, you may contribute up to $2,500 per year.
- If you are single/head of household, the maximum contribution is $1,000.
Why do I have to do this now?
There is a $100 million statewide cap on this tax credit program. Once pre-approvals have been issued for that amount, the tax credits are no longer available. As of January 31st, approximately $18 million remains available.
GRACE Scholars, Inc., is the official student scholarship organization (SSO) for the schools sponsored by the Roman Catholic Diocese of Savannah. All students receiving GRACE Awards have demonstrated financial need as determined by a third-party analysis of a family’s ability to pay tuition.
Schools in the Diocese of Savannah reserve the right to decline funding from SSOs which do not award scholarships based upon financial need. In addition, the maximum amount of SSO scholarships awarded to students in Diocese of Savannah Schools is the lowest of the following: student’s calculated financial need; 80% of the tuition rate applicable to the student; an index of per-pupil public school spending in Georgia; and, the maximum cap established by the local school.
GRACE Scholars, Inc. welcomes the transfer of students from one SSO to another as allowed by state law. In these instances, the school reserves the right to award GRACE scholarships in accordance with local procedures.
Schools in the Diocese of Savannah reserve the right to decline funding from SSOs which do not award scholarships based upon financial need. In addition, the maximum amount of SSO scholarships awarded to students in Diocese of Savannah Schools is the lowest of the following: student’s calculated financial need; 80% of the tuition rate applicable to the student; an index of per-pupil public school spending in Georgia; and, the maximum cap established by the local school.
GRACE Scholars, Inc. welcomes the transfer of students from one SSO to another as allowed by state law. In these instances, the school reserves the right to award GRACE scholarships in accordance with local procedures.