Additional Ways to Give
In addition to giving through GCA’s website, you can make donations through AdventistSchoolPay or mail a check to the attention of Nancy Gerard, Alumni and Development Director, 397 Academy Drive SW, Calhoun, GA 30701.
SSO/Georgia Education Expense Tax Credit
New Tax Advantage now Available to Owners of S-Corps, LLCs and Partnerships
Georgia residents, don’t miss this incredible tax opportunity! Georgia law (HB 1133) provides a tax credit to individuals who make a donation to a state-approved Student Scholarship Organization (SSO). An individual filer can donate up to $1,000 and a married couple, filing jointly, can donate up to $2,500. Furthermore, owners of LLCs, Partnerships, and S Corporations can contribute up to $10,000 to an SSO, less any amount already contributed to an SSO this year. Besides receiving a dollar-for-dollar tax credit for your donation, you also will receive the benefit of a federal deduction for your charitable contribution.
This Georgia tax program has become very popular, with the state giving away more than $55 million annually. Please consider following the three simple steps below to take advantage of this tax credit and support GCA in the process.
- Fill out the donor preapproval form to participate in the SSO program and send it to GCA (scan and e-mail or mail it to Nancy Gerard). The SSO will upload your application on January 1. (Note: if you want to participate as an owner of an LLC, Partnership, and S Corporation, you can set up your own account with the Department of Revenue and file directly OR fill out the attached form. We will send the forms on to the SSO, which will directly upload them to the D.O.R. website.)
- After being approved as a donor, you will receive a letter from the Department of Revenue indicating that you have been approved. Following the receipt of that letter you have 60 days in which to make your SSO donation. At that time, write a check to The Georgia Tuition Assistance Program and mail it to their office at 535 Coldstream Court, Atlanta, GA 30328. Indicate that this donation is to benefit GCA.
- 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. You will receive a dollar-for-dollar tax credit for donating to this program.
For several years now the Georgia Education Expense Credit (House Bill 1133) has been providing Georgia taxpayers with the opportunity to contribute to qualified Student Scholarship Organizations (SSOs) and receive a dollar-for-dollar credit against their Georgia income tax liabilities.* The amounts contributed to the SSOs are used to provide scholarships to students who attend private K-12 schools.
Prior to 2013 only individuals and businesses organized as C-Corporations could participate in this program but now the State of Georgia has leveled the playing field by allowing S-Corporations, LLCs and Partnerships to offset some of the taxable income earned by contributing to an SSO.
Effective January 1, 2013, owners of LLCs, Partnerships, and S Corporations can contribute up to $10,000 to an SSO, less any amount already contributed to an SSO this year.
PLEASE NOTE: If both husband and wife earn income from flow-through entities, then BOTH can contribute up to the $10,000 limit, less any amount already contributed.
Your share of income on your K-1’s can be offset up to 6%, which is the State of Georgia’s tax rate. Your filing status does not impact this calculation.
K-1 Income/SSO Limit
- $166,667 or more/$10,000
This tax program has become very popular among Georgia taxpayers to the extent that the $53 million cap has been reached earlier each year since the bill was passed. In 2015 the cap was reached on January one and participants in this program were not able to give at the full rate due to so many people applying for approval for the program. Please plan accordingly!
3 simple steps can make a big difference in the life of a GCA student:
- Fill out the donor pre-approval form (“Basic Form 2018”) to participate in the SSO program and send it to GCA (scan and email or mail it to us). The Georgia Tuition Assistance Program (GATAP) will upload your application on January 1, 2018.
- After you receive a letter from the Department of Revenue approving you as a donor, write your donation check to GATAP for the amount for which you have been approved and send your donation to The Georgia Tuition Assistance Program, 535 Coldstream Court, Atlanta, GA 30328. Let them know it is to benefit GCA. You have 60 days from the time you receive your donor approval letter in which to make your donation to the SSO.
- 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.
*In addition to the dollar for dollar tax credit from the State of Georgia you will also receive a tax deduction for your charitable contribution when you file your federal taxes.
You can support GCA by remembering the school in your estate plan. As you determine how your estate will be handled after your death, you can allocate a portion of your estate to GCA. For more information about planned giving, please contact Nancy Gerard.