For the first time, the state's new Invest in Kids Act is creating a way for Illinois residents and organizations to give towards private school scholarships for low-income students while receiving a 75% tax credit.
85% of Holy Trinity's families are eligible to receive these new scholarships. This program has incredible potential to be helpful to both our students and you, our donors.
Currently, we are aware of three partners who plan to apply for an SGO status: the Archdiocese of Chicago (Empower Illinois), Big Shoulders Fund, HighSight and Daniel Murphy Scholarship Foundation.
Beginning at midnight on January 2, 2018, individual and corporate donors will be able to reserve tax credits through mytax.illinois.gov. To prepare, donors are encouraged to take the following steps now:
Once the tax credit application opens (midnight on January 2), donors will apply for a certificate, which includes the amount you want to donate and reserves your tax credit. We expect all $100 million in tax credits to be claimed within minutes. Donors will then have 60 days to donate the indicated amount to the SGO of your choice.
If you're interested in supporting Holy Trinity through this new program, please contact us for more information.