Arete Scholars Supporter/LA Tax Credit Donations
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Arete Scholars/Louisiana Tuition Donation Credit Program
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Why Just Pay Your Taxes When You Can Pay Them Forward?
Arete Scholars offers Louisiana taxpayers a budget-favorable giving opportunity under the Louisiana Tuition Donation Credit (TDC) Program that both individuals and corporations can participate in. Under the TDC program, any Louisiana taxpayer may donate their entire state income tax liability to Arete Scholars and receive a 95% tax credit at the time of donation.
Arete Scholars uses TDC donations to provide need-based K-12 scholarships to Louisiana children in low-income families. Scholarships can be used at the parent's nonpublic school of choice, allowing them to find the right school for their child's learning and social needs, as well as a school that aligns with the parent's values.
Under the Louisiana Tuition Donation Credit (TDC) Program, any company or individual that pays Louisiana income tax may receive a 95% tax credit for donations to Arete Scholars. Arete will provide need-based K-12 scholarships to Louisiana students.
Donations are accepted throughout the year, and the tax credit is earned when the donation is made. If the amount of the credit (same as donation amount) is larger than the donor's Louisiana income tax liability, the excess credit may be carried forward and applied to future tax liabilities for up to three (3) years.
LOUISIANA TAX CREDITS
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Arete Scholars SupporterTestimonial
Arete Scholars Supporter:
How long have you been working with Arete Scholars?
J. MICHAEL INZINA, CPA, CGFM, CGMA
-Certified Public Accountant with 44 years of experience.- Two years.
- Although I am retired from public practice, I still prepare my own returns. I decided the first year to roll the dice on a $1,000 contribution to Arete. My tax credit form was returned to me timely, and when I prepared my return, frankly I was shocked. Not only did I recoup $950 on my state income tax return, but I was allowed a $1,000 contribution deduction on my federal return. With my marginal rate at 24%, that was another $240 saved, a total now of $1,190 in my pocket for a $1,000 contribution. Needless to say, the second year I made a more substantial contribution.
- It's extremely easy to participate. There is little in the way of paperwork to complete, and that's only for the first year.
- If you support private and parochial education, this is a win-win way to support those institutions. I am a parochial school board member, so I can vouch firsthand for the benefits of students who would otherwise be stuck in failing public schools, and all at no net cost to the donor. In addition, having gotten to know many of the Arete personnel, I can assure you of their honesty and integrity. They believe in what they are doing. And so do I.
- If you are skeptical, I understand, as I was as well. I am now a believer, and you can contact me directly if you have any doubts that what I have said is 100% true.
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