VIRGINIA TAX CREDIT
Looking for a way to benefit St. Gregory and yourself as a Virginia tax payer?
Consider donating to SGGS through the
Virginia Tax Credit Program!
What is the Virginia EISTC (Tax Credit) Program?
- Virginia’s Education Improvement Scholarships Tax Credits (EISTC) program offers donors 65% of their donation returned to them in Virginia tax credits.
- Donations to foundations approved by the Virginia Department of Education are distributed as scholarships for students from low-income families to attend accredited private schools.
- Virginia budgets $25 million each year for this program, which continues until 2028.
What is a “Tax Credit”?
- A tax credit allows you to subtract the amount of the credit – dollar-for-dollar from the total you owe the state in taxes, not from taxable income.
- It is not necessary to itemize in order to use tax credits.
- Tax credits directly reduce tax bills.
- Use it like a coupon when you prepare your taxes.
How is this donation program different from a regular donation to the school or a scholarship program?
- Donors receive Virginia tax credits for 65% of the full value of the donation.
- Donors who itemize ALSO receive federal and Virginia tax deductions for charitable contributions.
- Both individuals and businesses are eligible.
- Tax credits are awarded on a first-come, first-served basis, subject to Department of Education pre-authorization.
- Donations must be made to an approved scholarship foundation.
- Donors can include a Letter of Intent requesting that their scholarships support Catholic school students (in our case, SGGS students!).
Please click on the links below for more information and to get started or contact Renee Minella, Director of Development, for a personal appointment! Please email Renee at email@example.com or call at 757-497-1811, ext. 370. Education Improvement Scholarship Tax Credits Presentation Frequently Asked Questions
Tax Credits Information SheetTax Credit BrochureTax Credit Letter of IntentVA DOE Pre-authorization Form