The Educational CHOICE Charitable Trust
The Indiana School Scholarship Tax Credit Program, passed in the summer of 2009, is designed to provide scholarship support for thousands of low and middle income families to enroll their children in the private or public school of their choice. Donors (individuals or corporations) are eligible to take advantage of a 50% credit against their state tax liability for contributions made to a qualified scholarship granting organization (SGO). Oldenburg Academy has partnered with a qualified SGO called
The Educational CHOICE Charitable Trust.
Contributing To The Educational CHOICE Charitable Trust
- CHOICE Trust is a 501(c)3.
- Contributions to the CHOICE Trust are eligible for a 50% Indiana State Tax Credit and can also be deducted for federal tax purposes.
- All contributions qualify for the Indiana State Tax Credit. The only exceptions are contributions from a foundation. Foundations may still contribute, however, they are not eligible for the tax credit.
- Checks can be made out to The Educational CHOICE Charitable Trust.
- Checks can be given to the Oldenburg Academy Advancement Office or mailed to The Educational CHOICE Charitable Trust, Attn: Mindy Colbert Mesta, 10439 Commerce Dr., Suite 100, Carmel, Indiana 46032. If you are mailing a check to CHOICE Trust, make sure to specify that your donation is for Oldenburg Academy.
- After the check is received, the donor will be asked to fill out an SGO donor card if he or she wants to receive the Indiana State Tax Credit. This form can be emailed to the donor.
- After filling out the form, the donor can scan the form and email it to mcolbert@choicetrust.org.
- Upon receipt of the donor card, CHOICE Trust will submit the information to the Indiana Department of Revenue.
- The Department of Revenue will register the contribution, generate a seven digit code for the contribution, and give that code to CHOICE Trust.
- CHOICE Trust will send a confirmation/thank you letter to the donor with the seven digit code. This code will be used on the tax return. This letter will also serve as the acknowledgement for federal tax purposes. CHOICE Trust will send a copy of the letter to Oldenburg Academy's Advancement Office.
The Indiana School Scholarship Tax Credit Program
Adjusted gross income tax, financial institutions tax, and insurance premiums taxes are eligible for the tax credit. Corporate or individual taxpayers may participate.
There is no limit on the size of individual contributions to SGOs, but the tax credit amount cannot exceed a taxpayer's state tax liability.
There is a program cap of $2.5 million per year (qualifying up to $5 million in donations). Those who are first to contribute are first to qualify for tax credits.
SGOs work directly with the Department of Revenue to assure that your donation qualifies and is properly recorded.