How to participate in the Georgia Department of Education Expense Credit
The Georgia Tax Credit Scholarship Program allows you to redirect a portion of your Georgia income tax dollars to Savannah Adventist Christian School by donating to the SSO, The Georgia Tuition Assistance Program (GATAP). It's a re-direction of what you already have to pay in State taxes to a scholarship fund that will help students in need of financial assistance. Please note that individual donors are not legally allowed to designate which student(s) will receive funding. This decision is left entirely to the school's Financial Aid Committee. (Use the hyperlink above to access an FAQ from the Georgia Department of Education.)
Please note new allowances for this program: S Corporations, Partnerships or, in most cases, LLCs can now redirect as much as $10,000 through this program! In businesses where both spouses take an income BOTH individuals can redirect up to $10,000.
As in previous years, a C Corporation can support the Student Scholarship Organization (SSO) to the extent of 75% of its Georgia Income Tax obligations. An individual or married couple can also donate up to $2,500 per year. Please refer to the following website for more information: www.ga-tap.org. You can also contact Mr. Mike Bean, president of GATAP, at (404) 384-4923.
The Georgia Tax Credit Scholarship Program has become so popular that it's anticipated that the $58 million cap will be exhausted on the very first day of January! For this reason, we strongly urge you to get your application in early. The likely rate of approval is a pro-rated amount around 60% or less than the amount for which you apply. (i.e. You apply for $2500 and may be approved for a donation of $1500. But every donation helps SACS help students!)
3 simple steps can make a big difference in the life of a SACS student:
You can take advantage of this tax opportunity AND help a student by filling out the pre-approval form TODAY!
- Fill out the donor preapproval form (IT-QEE-TP1) and return it to SACS by December 1. You can access copies of the form here. This is the method we recommend, but if you wish, you can apply electronically at https://gtc.dor.ga.gov. Our SSO provider is "Georgia Tuition Assistance Program" and their tax ID# is 26-3983489.
- After being approved as a donor (you will receive a letter in the mail from the Dept. of Revenue indicating that you have been approved), write a check to GATAP for the amount you have been approved for and send your donation to The Georgia Tuition Assistance Program, 535 Coldstream Court, Atlanta, GA 30328. Be sure to include a note specifying Savannah Adventist Christian School as your designated school recipient.
- When you file your taxes for the year in which you donated, attach copies of the documentation of your contribution (which you will receive from the SSO) and you will receive a dollar for dollar tax credit for donating to this program.
Please call or email me if you have any questions about participation in this program: (912) 748.5977 or email@example.com.
Thanks for your support of Savannah Adventist Christian School!