Virginia Education Improvement Scholarships Tax Credits
Contact us for a Pre-Authorization form sent to you electronically through a secure web portal! Advancement@gcswarriors.org
Four Easy Steps to Receiving Your Tax Credit
Would you like to hear more? Please reach out! We would love to meet with you over coffee or a burger and walk you through this program. We are very passionate about sharing this with our families because it is a wonderful way to send your tax dollars to GCS, make your donation go farther, and it makes great financial sense for many business owners! This credit has been around since 2013, but we expect that the VA legislators will end it after this year. Please email Kristen or Tom today. 540-886-9109 / KLihos@GCSWarriors.org / Tom@emeraldspring.com
...Virginia taxpayers can give generously and offset the cost of those gifts through tax credits and the avoidance of capital gains taxes. For those in the highest tax bracket who give highly appreciated stock, the program can offset all of the costs. ~ Forbes.com
This program provides Virginia state tax credits for resident persons or businesses making monetary or marketable securities donations to approved scholarship foundations that provide scholarships to eligible students for qualified educational expenses incurred in attending eligible nonpublic schools.
Donor Benefits
- Obtain a charitable giving receipt.
- Receive 65% of the gift value of your approved donation as a State Tax Credit.
- For those that choose to itemize, you may earn additional tax benefits as a charitable donation from the proceeds donated (Federal & State).
- Tax credits may be claimed in the same year donated or carried over to the next 5 succeeding taxable years.
- Benefits apply to both individuals and businesses.
- Monetary and marketable security donations accepted.
- Direct your tax dollars to help children receive a quality, biblical education.
*Reduced tax liability needs to be determined by donor’s tax preparer.
Who Qualifies to Give?
Anyone who pays Virginia state taxes may qualify.
Individuals must give a minimum of $500 but may donate as much as $125,000 per year.
There are no limits for businesses, including sole proprietors.
(Information above is taken from Forbes.com, Renewanation.org, Childrenstuitionfund.org, and Tax.Virginia.gov)
Why Give?
Help us reach our goal of $150,000 and 50 children!
Grace Christian School has a goal of providing scholarships for 50 economically disadvantaged children, at the cost of $150,000 this year! We are an approved school through the state of Virginia, and we look forward to making your tax dollars go farther in support of the wellbeing of our local children.
If you or your business/corporation would like to contribute, please email Kristen Lihos at klihos@gcswarriors.org or call 540-255-7007.
Learn more about receiving your Virginia tax credit, and helping an economically disadvantaged child receive a biblical education, through the links below!