Georgia Goal Scholarship Program

Just imagine if you could scholarship new students to LCA who have not been able to afford it until now…

Effective July, 2008, House Bill 1133 opened the door for private schools to receive state funds for scholarships. The bill allows the creation of students scholarship organizations; which in turn, has opened the door for scholarship money for new students to attend LCA.

This program is not a tax deduction, which would only lower the taxpayer’s burden by a small percentage. It is a full tax credit for the funds directed to the private schools. 

With most new programs there are questions and hesitations which are understandable; however, time is crucial for this program. We would like to help clarify any questions you may have regarding this great opportunity. Please review the FAQs below, go to the GOAL Scholarship website or contact Doug Monda or Stephanie Wilson.

Thank you in advance for creating opportunities for new students!

I'M ON BOARD. WHAT DO I DO NEXT?

  • Get Pre-Qualified: All contributors to the Goal Scholarship Fund must submit the Georgia Form IT-QEE-TP1 and the Goal Tax Credit Form for pre-qualification.  The pre-approval process assures the Georgia Department of Revenue that the annual statewide cap of $58 million has not been exceeded. There are two ways to submit these forms, electronically through Goal’s Paperless Process or by submitting paper forms to LCA or to GOAL directly.

In order for LCA to obtain your contributions, enter “Loganville Christian Academy” in the Designated School box on the Goal Tax Credit Form.

To access Goal’s Paperless Process, click here and select “Goal Paperless Process”. This will allow you to complete both forms electronically and submit the forms directly to Goal with your electronic signature.

To complete paper forms for submission, either contact Stephanie Wilson at LCA or download the forms from Goal’s website (Georgia Form IT-QEE-TP1 andGoal Tax Credit Form). Completed forms can be submitted to Stephanie Wilson, who will submit to Goal on your behalf or can be mailed directly to Goal at the address below:

          Georgia GOAL Scholarship Program, Inc.
          Five Concourse Parkway
          Suite 200
          Atlanta, GA 30328

  • Confirmation: After submission of the pre-qualification forms, the Georgia Department of Revenue will send you a confirmation form notifying you of approval of your contribution. Confirmation is typically received within 30 days.
  • Make a Difference: Once confirmation is received, you have 60 days from the approval date to submit your check.  The check is to be made out to the Georgia GOAL Scholarship Program, Inc. with LCA designated in the memo section of the check. Checks can be submitted to Stephanie Wilson, who will submit to Goal on your behalf or can be mailed directly to Goal at the address below:

          Georgia GOAL Scholarship Program, Inc.
          Five Concourse Parkway
          Suite 200
          Atlanta, GA 30328

  • Get Credit: Upon receipt of your contribution, GOAL will send you Form IT-QEE-SS01 which you will use when you prepare your Georgia State tax return. You can claim a direct credit against your Georgia income taxes for the amount of your contribution AND you get a charitable tax deduction on your federal taxes if you itemize your deductions.

 

FREQUENTLY ASKED QUESTIONS

  1. IS THERE A WEBSITE FOR THE PROGRAM? Yes, the web address is www.goalscholarship.org.
  2. WHAT IS THE INTENTION OF THE NEW LAW? The new law is designed to give school choice to families currently in the public school system and who have limited income.
  3. WHICH STUDENTS ARE ELIGIBLE TO RECEIVE SCHOLARSHIPS THROUGH GEORGIA GOAL?  A student is eligible to apply for GOAL if they are enrolling from the public school system, or are an incoming Pre-K through first grade students, or they are a student that has been enrolled for at least one year in a qualified Home Study Program (as defined by the Georgia Department of Education).  Families of these students must also financially qualify for GOAL by completing an application and providing a copy of their previous year’s tax return and W-2.
  4. WHAT IS THE MAXIMUM AMOUNT I CAN DONATE? Single individual or head of household: $1000, Married couple filing joint return: $2500, C Corporation: up to 75% of state income tax liability, S Corporation, LLC or Partnership: $10,000
  5. WILL MY CONTRIBUTION GO TO LCA STUDENTS ONLY?  You will be able to designate LCA when you send your contribution in to Georgia GOAL but you will not be able to designate a particular student.
  6. IS THERE A MAXIMUM A STUDENT CAN RECEIVE? Yes, the maximum scholarship is 85% of the LCA’s tuition or $10,000, whichever is less.
  7. CAN THE SAME STUDENT RECEIVE SCHOLARSHIP MONEY FOR MORE THAN ONE YEAR? Yes, students must qualify each year but there is no time limit to receive the scholarship money.
  8. WHERE DO CONTRIBUTORS DESIGNATE WHICH SCHOOL THEY WISH TO APPROPRIATE FUNDS? Contributors can designate the school of their choice in the memo portion of the check they write to Georgia GOAL Scholarship Program.
  9. WHAT IF A CONTRIBUTOR OVER ESTIMATES STATE TAXES AND PAYS TOO MUCH TO GEORGIA GOAL SCHOLARSHIP PROGRAM? The amount paid by individuals can be rolled over to the next tax year for up to five years. Corporations, Partnerships and LLC's need to consult their tax professional for their applicable carry forward rules.
  10. IS THERE A DEADLINE TO CONTRIBUTE? Donors must make the contribution to Georgia GOAL within 30 days of the approval date printed on the Georgia Department of Revenue approval letter.
  11. WHAT IF A CONTRIBUTOR CHANGES HIS MIND ABOUT THE AMOUNT HE WISHES TO CONTRIBUTE AFTER HE RECEIVES APPROVAL FROM THE STATE? The amount can be changed to a lower amount. A contributor cannot increase the amount previously designated on the application form.