You can make a donation that benefits Liberty Christian and receive a CREDIT (not just a deduction) on your state tax bill at the same time through Indiana’s innovative Tax Credit Scholarship Program. Here’s how it works:
- You make a donation to the Sagamore Institute’s Scholarships for Education Choice program, a scholarship granting organization (SGO). You designate Liberty Christian as the school to which you want them to grant the scholarships.
- Sagamore grants scholarships to eligible children at Liberty Christian, thereby allowing the school to receive tuition for a student who otherwise might not have been able to afford it.
- The state of Indiana gives you a tax CREDIT equal to half the amount of your donation. For example, if you owed $5,000 in state taxes but made a donation of $10,000 to Sagamore, you would owe NO state taxes. PLUS you can still deduct the donation from your federal taxes, meaning that your gift costs even less from your pocket than ever. For example, a donation of $25,000 may cost you only $8,125 after claiming all of your credits and deductions–see the special illustrations.
In effect, you can decide how the state will spend your tax dollars by directing them to Liberty Christian.
Do it now! If you are interested in cutting your tax bill and helping Liberty Christian at the same time, consider doing so immediately. The state has set aside $9.5 million in tax credits for this program. When donors have claimed that amount in any particular calendar year, the credits are no longer available until the following year.
PLUS, the state changed the rules this year to allow any taxpayer to carry forward credits from one year to the next. That means that you no longer have to wait until you know what your tax liability will be so that you avoid making too large a donation. You can make a donation of any size and use the tax credits over the course of the next several years.
This program works for any size donation, there is no minimum amount.
Note: Liberty Christian School is not engaged in the practice of providing tax advice and this information does not constitute and is not a substitute for tax advice. Liberty Christian School recommends you secure the advice of competent tax advisers with respect to your personal tax situation.