Indiana Tax Credit Scholarship Program (SGO)
The SGO Program
Did you know that you can receive substantial tax benefits while blessing The Classical Academy?
The SGO (Scholarship Granting Organization) program at The Classical Academy plays a crucial role in enabling families to access classical, Christian education for their children by providing tuition scholarships. This initiative is supported by private donations and is designed to offer families attending non-public schools financial assistance. It operates through a tax credit program that benefits donors and the school community.
Benefits & Blessings
Key highlights:
Tax Benefits for Donors
- Individuals and corporations are eligible for a 50% tax credit against their Indiana state tax liability.
- Donors may also qualify for a federal tax deduction if they itemize deductions.
- Donations can be made in cash or non-cash assets, including appreciated stock, where capital gains tax is waived.
No Donation Limits
- There is no cap on the amount that individuals or corporations can donate.
- Tax credits can be carried forward for up to nine years.
Funding Availability
- Over $13 million in available tax credits remain for Indiana donors to non-public schools like the Academy.
