How can the tax credit benefit both Notre Dame Academy School and me?
Under the new law, you are able to redirect a portion of your Georgia state income taxes to provide scholarship assistance to NDA students. You will receive a tax credit at the state level (and a federal income tax deduction), against your Georgia income tax liability for amounts donated. For married couples filing jointly, the maximum eligible contribution is $2,500, and as an individual, the maximum is $1,000. How does it work? Each school works through an independent Student Scholarship Organization (SSO). NDA has partnered with the www.gracescholars.org, a state approved SSO, to enable the NDA community to take advantage of this program. By specifying NDA in your donation to the G.R.A.C.E. Scholars, Inc. program, a Georgia state income tax credit is available to you for the tax year the donation is made. Your donation also means you may be allowed a charitable contribution deduction on your Federal tax return. Can I direct my contribution to my child? Unfortunately, parents may not
