This program is two fold~ provides a IL tax credit for donors and is also a scholarship organization for those in need.
Dear HCA family,
As you know, we are a school devoted to blessing you and your children. We understand this is a big task and we pursue this mission with the Lord before us. There are often times that these blessings depend on scholarship money to keep our students enrolled. Amazingly, the state of Illinois enacted the Invest in Kids Scholarship Tax Credit Program in 2017. This act allows taxpayers to contribute to scholarships for the school(s) of their choice. This program offers a 75% income tax credit to individuals and businesses that contribute to qualified Scholarship Granting Organizations (SGOs). The SGOs then provide scholarships for students whose families meet the income requirements to attend qualified, non-public schools in Illinois.
The scholarships must go to students whose families meet low-income thresholds. Meaning, these scholarships are designed to help our students who would not be able to attend HCA without a scholarship. In order to fund these scholarships, this new program allows taxpayers to receive tax credits of up to $1,000,000! The program is capped at $75 million which may seem like a lot, but that funding will go quickly. Donors interested in receiving a tax credit should register as soon as possible with mytax.illinois.gov in order to apply for the tax credit. Individuals can designate their contribution to HCA directly (Region 2).
This program is now in the third year and we hope to have more student’s tuition funded. For 2018-2019, HCA was granted five student scholarships and for 2019-2020 HCA was granted four student scholarships based on the donations given to the program.
In His Service,