Established in 1984, the Mothers Clotildis and Marie Gerald developed a tuition assistance fund to support the financial needs of the students at Saint Gregory the Great School. Contributions to the Endowment provide financial stability to ensure the future of Catholic education for generations to come.
Virginia Education Improvement Scholarships Tax Credits
Virginia’s new Education Improvement Scholarships Tax Credits program provides scholarships for low-income new students to attend St. Gregory the Great Catholic School. Funds for these scholarships come from individuals and businesses making contributions to the McMahon Parater Foundation of the Catholic Diocese of Richmond, for which the donors receive a Virginia TAX CREDIT equal to 65% of the donation. In addition to the 65% Virginia Tax Credit, individuals, and businesses may also receive federal and state deductions for these charitable contributions, and therefore achieve tax savings in two ways. Tax Credits can be used against individual or business Virginia tax liability for the year following the year the donation was made and may be carried over for up to five years. Please consult your tax advisor to determine your specific tax savings. The minimum donation amount is $500; the maximum donation for individuals is $125,000, but there is no maximum limit for any business, including sole proprietorships. Donations may be monetary or marketable securities. To obtain Tax Credits for a scholarship donation under this new program, obtain a blank Letter of Intent and Preauthorization Form from St. Gregory the Great Catholic School or from the McMahon Parater Foundation prior to making a contribution. Please refer to the Frequently Asked Questions for additional information. You may also contact Renee Minella, Development Director firstname.lastname@example.org (757) 497-1811, or the McMahon Parater Foundation at (804) 622-5190, or email@example.com with questions.
Levels of Giving to Endowment Fund
- Heavenly Archangels $1,500 and Above
- Cherubim $1,000
- Seraphim $500
- Guardian Angel $100
- Trumpeters $50
- Messengers $25