In 2017, Illinois lawmakers passed the Invest in Kids Act, the first law of its kind, that transforms lives by providing up to $100 million in scholarships to private schools for children from low-income and working-class families in Illinois. 100% of the current students of St Patrick’s Catholic Grade School are eligible for this tuition assistance program. Scholarships are funded through private donations to scholarship granting organizations (SGOs), like Empower Illinois, who then administer the application and scholarship process. Empower IL is the state’s largest and most comprehensive Scholarship Granting Organization and donors are able to direct their donations straight to St Patrick’s School.
Donations to the scholarship program through Empower Illinois are eligible for a 75% State Tax Credit. In addition, any portion of the tax credit may be carried forward for up to five years, therefore, the tax credit is incentive for donors to increase the amount they donate in tuition assistance. For instance, someone who owes $5000 in state income tax and normally gives $1000 in tuition assistance is out of pocket $6000 per year. That same donor may now donate $4000 to Empower IL (earning a 75% tax credit or the equivalent of $3000 off their state income taxes) and will now owe the state only $2000 in income taxes. The donor is still out of pocket $6000 but they have quadrupled their impact. Please contact the School directly or Erin Crumly @
erin.crumly@troxellfinancial.com for more information on how to get started in the program. Please note that it may take up to two weeks to get enrolled, so start planning for your 2019 year-end gifting now!