Contribution Highlights

100%, dollar for dollar tax credit allows tax payers to “use” their tax dollars to scholarship for students.
$50 million maximum (cap) allocated each calendar year for the entire program.
Tax credits go to individuals or corporations who donate to qualified Student Scholarship Organizations or SSOs.
Tax credits allocated on a first-come, first-serve basis until $50 million cap is reached. Contribution must be pre-approved before contributing to schools via SSO.
To obtain full credit for the year of contribution the maximum credit allowed is:
- The lesser of actual tax liability OR maximum credit based on filing status: $1,000 for individual filer; $2,500 for married filing jointly; $1,250 for married filing separate; 75% of State tax liability for ‘C’ corporation; individual limits of owners for ‘S’ corporation, LLC or partnership.
Any unused credits can be carried forward for the subsequent 5 years against your future tax liability.
You don’t have to contribute the maximum credit allowed. You can contribute lesser amounts.
You can contribute multiple times between January and December of the current year.
GRACE Scholars, Inc. is the only Student Scholarship Organization (SSO) established by Archbishop Gregory of Atlanta and Bishop Boland of Savannah to provide scholarships for deserving students to attend participating Catholic Schools. GRACE Scholars, Inc.’s Taxpayer ID is: 26-3237980.