Georgia Private School Tax Credit
Thanks to the support of the Lovett community, $2,486,992 has been redirected for Lovett financial aid through the Georgia Private School Tax Credit program!
In 2010, our trustees unanimously approved participation in the Georgia Private School Tax Credit Program. The Lovett community now has the opportunity to redirect their Georgia tax liability to support independent school education—and specifically a Lovett education! Your participation in this program can help us offer need-based scholarships to new Lovett students in a year when financial need is at an all-time high.
Georgia sets aside tens of millions of dollars in tax credits for Georgia residents and C Corporations that donate funds to qualified Student Scholarship Organizations (SSOs) each year. The SSOs, which are nonprofit organizations, then grant scholarships for current public school students and all kindergarten students to attend Georgia’s private and independent schools, such as Lovett. Lovett has partnered with an SSO called GOAL to administer this special scholarship program. A Lovett constituent would make a donation to GOAL, designating Lovett as their recipient, in exchange for a tax credit. That donation, in turn, would become a scholarship grant for a student to attend Lovett.
Submit your early application by December 15, 2017, or apply online at https://www.goalscholarship.
Individual filers can redirect a maximum of $1,000;
Married filing separately a maximum of $1,250;
Married filing jointly a maximum of $2,500;
Individuals who receive pass-through income up to $10,000 as an S-Corp shareholder, LLC member, or Partnership partner; and
C-Corporations and Taxable Trusts up to 75 percent of their Georgia tax liability.
If the cap for a given year has NOT already been met, links to the forms will be posted on this website. Fill out the form and GOAL will take care of the rest (you will receive a PDF copy of your completed form at your provided email). You are welcome to make your payment at this time or wait until GOAL emails you upon receipt of approval from the DOR (usually takes about 30 days). You can mail the check, as usual, or have the options for an online check (this option will be available as a link in the email correspondence sent upon receipt of approval) or by credit card (this option will be available as a link in the email correspondence sent upon receipt of approval).