THANK YOU to the record number of Benedictine families and business owners who supported our Cadets by redirecting a portion of their Georgia state taxes to help young men earn a BC education. Due to the popularity of this program, for the third year in a row, all $58 million of this tax credit was claimed on the first day of 2017!
"Thank you so much for supporting the GOAL Scholarship Program. You have made my dream of attending Benedictine Military School a reality. Your generosity has given me the opportunity to get a great education." - BC GOAL Scholarship Recipient
You Were Approved for 2017, Now What?
The GA Department of Revenue received approximately $117.2 million in tax credit applications on the first business day of 2017. Therefore, the $58 million of available credits for the year are divided among the $117.2 million in applications, so that each applicant is allowed a tax credit of approximately 49.49% of their requested amount ($58 million divided by $117.2 million.) Now, we simply need your contribution. You were notified of the amount by email from GOAL. Please send your payment to GOAL by your 60-day payment deadline of March 11, 2017.
You have two options for making your payment:
1. Write a personal check payable to GOAL, and mail to:
3740 Davinci Court, Suite 375
Peachtree Corners, GA 30092
2. Pay at the following link: http://www.goalscholarship.org/for_donors/contribute.asp
Important note: Even if you applied as the owner of a pass through entity, your payment should be made by a personal (not business) check or credit card, as you will be taking this credit on your personal income tax return.
Your 2017 contribution will be used to provide scholarships to deserving families desiring to attend Benedictine Military School. Once your payment has been processed, GOAL will email you a tax receipt in early summer 2017. Please reply to this email with any questions you may have, and thank you for your participation in this valuable program!
Tax Credit Limits Based on Filing Status
- Single individual or head of household – up to $1,000
- Married couple filing a joint return – up to $2,500
- Married couple filing a separate return – up to $1,250
- S corporation shareholder, LLC member, or partnership partner – up to $10,000
- C corporation or Trust – up to 75% of annual Georgia income tax liability
How to Contribute & Take the Tax Credit
(Applications for 2018 will open in July 2017)
1. Apply Now (anytime from July 2017 – December 2017)
Complete the 2017 GOAL Tax Credit Application today at www.goalscholarship.org (takes just 20 seconds!).
2. GOAL Submits to DOR
On the first business day of January 2018, GOAL submits your application to the Georgia Department of Revenue (DOR).
3. You are Approved to Contribute
GOAL and DOR notify you of tax credit approval and amount in early January 2018.
4. Make Your Payment
Pay GOAL by check or credit card within 60 days of DOR approval (mid-March 2018).
5. Take the Credit.
In May, GOAL will send you a Form IT-QEE-SSO1 (tax receipt) for claiming the credit on your 2017 Georgia income tax return (Note: you will take the credit when you file your 2018 taxes in April of 2019).
Please contact Greg Markiton at 912-644-7016 with any questions. Thank you for your support of Benedictine Military School!