Georgia GOAL Scholarship Program

For the last four years, the Georgia Education Expense Credit has allowed taxpayers to take a credit against their Georgia income taxes for amounts contributed to the Georgia GOAL Scholarship Program. This is not a donation, it is a re-allocation of your state tax obligation to scholarships, and it can be designated directly to scholarships at Lionheart. For the 2010-11 school year, GOAL funds helped six families come to Lionheart!

Under the 2008 law, individual taxpayers receive a tax credit against their Georgia income tax liability for amounts contributed to the GOAL Scholarship Program up to $1,000 ($2,500 in the case of a married couple filing a joint return). Thus, if a married couple owes $10,000 in Georgia taxes, they can contribute $2,500 to GOAL for scholarships at Lionheart School and pay the remaining $7,500 to the state treasury.

Corporations receive a tax credit for amounts contributed to the GOAL Scholarship Program up to 75% of their Georgia income tax liability. Presently, this tax credit is only fully available to “C” corporations. Unfortunately, shareholders of S corporations and members of LLCs and LLPs are subject to the individual tax credit limitations.

In addition, amounts contributed to GOAL are deductible for federal income tax purposes.

The GOAL Scholarship Program uses the contributions to fund K-12 scholarships for public school children who desire to attend private schools. The scholarships are also available for students who are eligible to enter kindergarten. Importantly, donors to GOAL can designate that their contributions be used in support of scholarships at Lionheart School.

The process is simple:

Fill out the GOAL Authorization Form. Married filing jointly must include both spouses Social Security Number.

Sign page 2 of the the ITQEETP12011.The signature line is about half way down.

You do not need to fill this form out. GOAL will do it for you!

Write your check payable to Georgia GOAL Scholarship Program.

Write “The Lionheart School” in the memo line of your check.

Return the forms and check to The Lionheart School, Attention GOAL, 225 Roswell Street, Alpharetta, GA 30009.

Lionheart will mail your forms to GOAL. GOAL will get them approved by the state, and once approval is received, will deposit your check for scholarships for Lionheart. GOAL will send all paperwork you need for your taxes directly to you. Accountants and TurboTax know how to file these!

Questions? Call Mary Ulich at (office) 770-772-4555.