Untitled Document

Giving

 



   

Georgia Tax Tuition Tuition Credit/Goal Scholarship Program


You Have A Choice

Pay income taxes to the
State of Georgia		 OR Provide funds to
Westminster Schools of
Augusta
  • A 2008 Georgia law grants an income tax credit - not just a deduction -- to individuals and corporations who contribute qualified student scholarship organizations (SSOs) such as the Georgia GOAL Scholarship Program, Inc. ("GOAL, Inc.")
  • GOAL, Inc. is an independent organization that administers this program for Westminster and 61 other schools
  • Last year Westminster receive $60,000 from this program
     

How Much Can You Contribute?

  • •Unmarried individuals: up to $1,000
  • •Married couples filing jointly: up to $2,500
  • •Married couples filing separately: up to $1,250 each
  • •“C” Corporations: contribute up to 75% of Georgia income tax liability
  • •S Corporation shareholders and LLC members are limited to the individual tax credit limitations
  • •Contributions result in a corresponding Georgia income tax credit, not a mere tax deduction
  • •Contributions are also deductible for federal income tax purposes, just like Georgia income tax payments
  • •End result:  GOAL contribution costs you nothing
     

    How Are The Contributions Used?

•
  • •Westminster has entered into an Agreement with GOAL, Inc. that will benefit qualified students entering Westminster
  • •By law, the scholarships are only available to public school students who are transferring to Westminster Schools of Augusta or who are entering kindergarten
  • •The GOAL scholarship is awarded for the entire duration of the student’s attendance at Westminster and varies in amount each year based on need, the availability of funds, and Westminster recommendations
  • •Your contribution to GOAL for scholarships to entering students frees up Westminster’s other cash for general school purposes
     
•

A Simple Process

  1. 1.Complete the 2-page Form IT-QEE-TP1 (TP1) distributed tonight and drop it off at the exit.  (Deadline:  October 31). Put the MAXIMUM amount (see previous slide items 1-3) in Box  A-1; you can always contribute LESS than this amount if circumstances change. Within 30 days, the Division of Revenue will send you back the approved TP1 Form.
  2. 2.Immediately upon receiving the approved TP1, send to Westminster (A) a copy of the approved TP1 and (B) your check to “Georgia GOAL Scholarship Program” – with Westminster Schools of Augusta written in the memo section of the check
  3. 3.GOAL, Inc. will send you a Form IT-QEE-SSO1 (SSO1) acknowledging your contribution
  4. 4.When you file your Georgia income tax return, take the credit and file a copy of the SSO1 with your return along with a Form IT-QEE-TP2 (TP2).  GOAL, Inc. will send tax filing instructions early in 2010 to assist you or your CPA
     

Frequently Asked Questions

  • •You can contribute less than the amount you put on the TP1 form if your tax circumstances change or you just decide to contribute less
  • •Contributions to GOAL, Inc. merely use dollars that you would otherwise be paying to Georgia for income taxes, so please do not regard them as a substitute for your contribution to the Westminster Annual Fund
  • •Anyone who pays Georgia income tax can contribute – grandparents, other relatives, godparents, friends, your employer, etc.  Spread the word!  Extra copies of forms are available from Carrie Brigham or the Internet.
  • •Carrie Brigham, Director of Development, will be able to answer your questions and provide extra copies of forms.  cbrigham@wsa.net or (706) 731-5260, ext. 2219.  David Clayton Carrad is also available to answer questions and assist with the contribution process.  david.carrad@longmeadowfund.com or (706) 855-2760
  • •Please fill out the TP1 Form in your materials and drop it off in the boxes provided at the exit before you leave
  • •Thank you!
 
 
©Westminster Schools of Augusta      3067 Wheeler Rd., Augusta, GA 30909      Phone: 706-731-5260