GIVE THE GIFT OF EDUCATION
With your support, Genius School Inc. provides scholarships that make quality education accessible to families in need. Help us empower the next generation of leaders, thinkers, and change-makers.
SCHOLARSHIP GRANTING ORGANIZATION
What is SGO?
Indiana’s Tax Credit Scholarship program was created in 2009 as a way to give families who meet income guidelines an opportunity to send their child to a participating private school. Through the generosity of Hoosiers like you, private donations are given as scholarships so students may attend a private school that they may not have been an option to them otherwise.
Why Your Donation Matters
Contributing to The Genius School through the Institute for Quality Education (IQE) Scholarship Granting Organization (SGO) helps us provide scholarships for deserving students. These scholarships are crucial for families with household incomes below 400% of the federal Free and Reduced Lunch program, ensuring their children have access to a high-quality education.
Your support bridges the financial gap, allowing more children to thrive in a nurturing and academically rigorous environment. Together, we can make a meaningful impact on their futures.
How to Contribute
There are several ways to make your contribution:
Online: Visit www.i4qed.org/donate to
donate via credit card or initiate a transfer
of stock or securities.
Mail: Send a check payable to the “Institute for Quality Education” at:
Institute for Quality Education
101 W. Ohio St. Suite 700
Indianapolis, IN 46204
Phone: Call (317) 951-8781 with any questions or to discuss alternative donation methods, including mutual funds, cash, or debit card.
Be sure to designate Genius School Inc. – Indianapolis as the recipient of your donation so that your gift directly supports our students.
FAQs
Don’t have the ability to donate financially? We welcome in-kind donations such as uniforms, healthy snacks, and other essential items for our students. Every contribution helps make a difference.
Donations help bridge the financial gap for deserving students, allowing them to receive a faith-based, high-quality education that nurtures academic, spiritual, physical, and emotional growth.
No, provided the donation does not exceed the available credits under the cap. (The state has allocated $14 million for fiscal year 2019 and resets annually on July 1).
Indiana K-12 students who meet income eligibility guidelines and attend a participating school. You may designate your gift to a specific school, but not to a specific student
Granting the credit is subject to two major conditions, both of which must be met. First, the credit can only be granted to the original donor of the funds. Any other individual may not claim the credit.
Second, the donor must be willing to be subject to any federal provisions that come along with taking the credit.
This includes: Potential exposure to reduced charitable deductions (determined as of when the contribution to the DAF is made) and Potential exposure to federal excise taxes, especially those under IRC section 4958.
There is no set limit on the donation amount to receive the 50% tax credit, but credits are capped annually at the state level, so donating early increases the likelihood of claiming the credit.
If your tax credit is larger than your Indiana state tax liability, you can carry forward the remaining credit for up to nine years, allowing you to fully benefit from your contribution over time.
The Benefits For You
- Significant Tax Savings! Enjoy a 50% tax credit on your Indiana state taxes for every dollar you donate.
- Flexible Contributions! Donations of any amount qualify, making it easy to give what you can.
- Carry Forward Benefits! If your tax credit exceeds your state tax liability, you can carry it forward for up to nine years.
- Double the Impact! Your contribution not only supports students but also provides you with substantial financial benefits.
- Early Donations Maximize Impact! The earlier you contribute, the more likely you are to take advantage of the available $18.5 million in state tax credits.
Tax Credit Examples
This chart illustrates the potential tax savings for a donation to the Institute for Quality Education Scholarship Granting Organization.
(1) The federal tax savings is generally equal to the net federal deduction multiplied by the donor’s federal tax rate. The net federal deduction is equal to the donation amount less the state tax credit as state income taxes are deductible as itemized deductions for federal income tax purposes. Actual federal tax savings will vary based on your individual income tax status. Please consult your tax advisor.