Giving through SGO reduces your state tax liability while providing the gift of education to children in need.
The Indiana legislature has established the School Scholarship Tax Credit Program, incentivizing private donations to fund educational choice for low-income families attending non-public schools. This tax savings opportunity is available to donors making a financial contribution to a qualified scholarship-granting organization (SGO).
IA has partnered with the Scholarships for Education Choice Program / Sagamore Institute as its state-approved scholarship granting organization. By giving to our scholarship fund through SGO, individuals and corporations can receive a 50% credit against their state tax liability. Donors who are interested in taking advantage of this tax savings opportunity should complete the online form below, whereby Sagamore Institute will designate the donation to The Independence Academy.
On July 1 of each year, Indiana renews the allocation of tax credits for SGOs to offer individuals and businesses as an incentive to fund scholarships. There is no cap on the amount of tax credits a donor can secure as long as credits are available. See the amount of tax credits remaining this fiscal year. If credits are no longer available, please consider donating after July 1, when tax credits will be replenished.
The Independence Academy recommends consulting a tax or financial advisor to learn how a gift made through SGO will benefit you. When filing an Indiana return, the tax credit should be reported as a School Scholarship Credit and must include Schedule IN-OCC 55629. If a donor possesses unused school scholarship tax credits after filing a state return, the donor may carry the unused tax credits forward to be applied to subsequent annual filings for up to nine years.