Published July 18, 2014
ATLANTA—GRACE Scholars introduced a new contribution form on July 15 when the organization began accepting pre-registrations for 2015. The form is available in online and paper versions.
In prior years, donors were required to complete two forms. The two forms have combined into one form for 2015.
The online form can be completed and submitted without paper.
“We’re very excited about the online form,” said David Brown, executive director of GRACE Scholars. He also noted that the online form is the preferred means by which donors provide information to GRACE. The paper form remains an alternative for those who desire it.
The paper form can be completed by hand or as a fill-in PDF. The paper form must be printed, signed and sent to GRACE by email, fax or mail.
Both the online and print versions authorize GRACE to apply to the Georgia Department of Revenue (DOR) for tax credit approval. A separate state form is not needed as GRACE will apply for the donor’s tax credit directly through the DOR’s online portal.
As the DOR will not begin issuing tax credit approval letters until January 2015, donors will have until March at the earliest to make their contributions.
“Tax year 2015 will be a very competitive year for tax credits among student scholarship organizations (SSOs),” said Brown, adding, “The $58 million cap on tax credits is the same as 2014 which was exhausted in three weeks.”
“We expect that the cap will be met even earlier in 2015,” he said.
For more information and to find the new online form, visit the website at: www.gracescholars.org.