Student impacted by donor generosity
Tax Credit Scholarship Program
Our partnership with the Institute for Quality Education, a scholarship granting organization (SGO), allows donors to make a gift to the Hasten Hebrew Academy of Indianapolis that directly benefits our scholarship fund. In addition to supporting students by giving them access to a high-quality education, Indiana donors receive a state tax credit of up to 50% of their donation amount. Donations also qualify as a charitable deduction on federal tax returns.
Here are some quick facts on Indiana’s Tax Credit Scholarship program:
- There is not a maximum or minimum contribution requirement. However, the tax credit amount cannot exceed the state tax liability for the current year. On July 1, 2018 Indiana allocated $14 million in tax credits for SGOs to offer individuals or businesses as an incentive to help raise funds for scholarships. To see how many tax credits are still available, click here.
- Students must meet certain family income levels to qualify for an SGO scholarship.
- Actual after-tax cost will vary based on your individual income tax status.
- Donors can carryover unused tax credits for up to nine years. Giving Tuesday: the official start of the end-of-year giving season. IQE asks that you consider a gift to the Indiana State Tax Scholarship program through the IQE Scholarship Granting Organization (SGO).
In order to receive a 2018 state tax credit equal to 50% of your gift, donations must be received by December 31, 2018, or before the available allotment of state tax credits run out -- whichever comes first. In the past, some donors who have waited until late December have missed out on the credit, so we strongly recommend donating today.
To make donating as easy as possible, IQE provides the following options:
1. To donate online with your credit card, click here;
2. To download the form necessary for mailing a check, click here; or
3. To make a donation of stock or securities, click here.
For more information on the Tax Credit Scholarship program and SGOs, visit the Institute for Quality Education’s website.