GRACE Scholars
|
Attention Georgia taxpayers! Did you know you can redirect your state income tax dollars to support St. Anne-Pacelli Catholic School? Contributions to the GRACE Scholars program qualify for a 100 percent tax credit on your state income taxes. The funds are used to provide tuition assistance for students to attend St. Anne-Pacelli Catholic School.
Thanks to the Georgia State Legislature, the statewide cap on tax credits has increased to $100 million in 2019 from $58 million in 2018! We have the opportunity to contribute and receive more tax dollars to support students attending St. Anne-Pacelli Catholic School! Since GRACE Scholars was established in 2009, over $665,604.00 in contributions have been designated to help students attend St. Anne-Pacelli Catholic School. Your donations make an immediate and lasting impact! It is now time to register for 2019 tax credits! Visit www.gracescholars.org and select the "Register Now" button in the middle of the home page. You can pre-register online or print a paper form and send it to GRACE. Please submit your pre-registration by December 15, 2018 for preferred handling. But why wait? Pre-register now and enjoy peace of mind that you are making a difference in the lives of students and Catholic education! Your donation is not due until March 2019. Say Yes to GRACE! Say YES to helping deserving students enjoy the blessings of a Catholic education! Say YES to Archbishop Gregory and Bishop Hartmayer's key initiative for making Catholic education more available, affordable and accessible! Say YES to a moment of personal empowerment and give witness to religious freedom by redirecting your taxes to a cause you cherish! Pre-register today for 2019! 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 Trucks at 706-561-8232 or ttrucks@sasphs.net. |
“The help that I received by being a GRACE Scholar recipient was tremendously beneficial to my family and me. It is what allowed me to attend St. Anne-Pacelli Catholic School and receive the amazing education that was provided by my teachers. It is also what is allowing my little brother to receive that same education. I am truly grateful for the help that was provided to me by this program.”
-Manuel Duran, St. Anne-Pacelli Catholic School Class of 2016 graduate who earned academic and athletic scholarships to attend Georgia Southwestern State University where he is a sophomore on the Men’s Soccer Team and pursuing a degree in Mechanical Engineering |
Frequently Asked Questions
What is GRACE Scholars?
GRACE Scholars 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. Because GRACE is an SSO, Georgia taxpayers can donate to GRACE and receive a 100 percent tax credit on their state income taxes. 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.
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. As GRACE is a tax exempt charity (501 (c)(3) organization), you may be able to claim your gifts to GRACE as a charitable contribution on your federal income tax. It is also your chance to tell the state of Georgia how to spend your tax dollars.
How does it benefit St. Anne-Pacelli?
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 24 students ranging from 6th 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 pre-approved, visit www.gracescholars.org and pre-register for your 2019 tax credit online or via the link to the paper form. When completing the pre-approval form, remember to designate your contribution for St. Anne-Pacelli!
2) In January, 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 2019 state income taxes (in early-2020), 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. For preferred handling, please submit your pre-registration by December 15, 2018.
Pre-register now and GRACE Scholars will submit it for you on January 1st while you enjoy your New Year’s Day holiday. Your contribution will not be due until March 2019.
GRACE Scholars 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. Because GRACE is an SSO, Georgia taxpayers can donate to GRACE and receive a 100 percent tax credit on their state income taxes. 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.
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. As GRACE is a tax exempt charity (501 (c)(3) organization), you may be able to claim your gifts to GRACE as a charitable contribution on your federal income tax. It is also your chance to tell the state of Georgia how to spend your tax dollars.
How does it benefit St. Anne-Pacelli?
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 24 students ranging from 6th 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 pre-approved, visit www.gracescholars.org and pre-register for your 2019 tax credit online or via the link to the paper form. When completing the pre-approval form, remember to designate your contribution for St. Anne-Pacelli!
2) In January, 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 2019 state income taxes (in early-2020), 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.
- ‘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. For preferred handling, please submit your pre-registration by December 15, 2018.
Pre-register now and GRACE Scholars will submit it for you on January 1st while you enjoy your New Year’s Day holiday. Your contribution will not be due until March 2019.
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 funding 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 funding 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.