The Virginia Education Improvement Scholarship Tax Credit program can offer support for thousands of low and middle-
The Education Improvement Scholarships Tax Credit program offers a 65 percent state tax credit on top of current state and federal tax deductions for monetary and marketable securities donations to approved scholarship foundations that, in turn, provide private school scholarships to poor and working class students.
The minimum donation is $500 per year. The maximum donation for individuals is $125,000. There is no limit for business donations.
For the year of the donation, donors may take a credit against Virginia taxes equal to 65 percent of the donation, as well as a deduction against their net income as a charitable donation on both their federal and state income taxes.
The preauthorization application process for VDOE state tax credits is easy and The Community Foundation can help. Learn more about the program and how you can support local K-12 education and earn a 65% state tax credit in the process.
Contact Ann at The Community Foundation at [email protected] or 540-432-3863.