CCA has partnered with Georgia Student Scholarship Organization (GASSO) in order to provide tuition assistance for Covenant students through the State of Georgia Qualified Educational Expense tax credit program.
How It Works:
Your state tax dollars can support students at Covenant at no net cost to you!
Taxpayers in the State of Georgia can contribute money to GASSO in order to provide scholarships for students at CCA. In return, donors will receive a dollar-for-dollar tax credit for the full amount of their donation from the Georgia Department of Revenue.
Steps to Take:
- Reserve your tax credit by pledging a donation HERE.
- Make a scholarship donation to GASSO once you receive approval from the State of Georgia.
- File for the full refund via tax credit on your Georgia income tax return.
The Georgia QEE Tax Credit Program allows dollar-for-dollar tax credits for scholarship donations made through a qualified SSO, up to the following limits:
- For individuals who are single, up to $1,000;
- For individuals who are married, up to $1,250;
- For married couples filing jointly, up to $2,500;
- For C Corporations, up to 75 percent of their Georgia income tax liability;
- For members of limited liability corporations (LLCs), shareholders in Subchapter ‘S’ corporations, and partners in partnerships, up to $10,000.
The amount of tax credits that can be taken is limited to the donor’s tax liability or actual donation amount, whichever is less.
Donors may not designate particular students to receive scholarship funds.
Share This Opportunity:
Please consider sharing this program with family, friends, and businesses that would like to support students at CCA with their tax dollars. Any state income taxpayer in Georgia can participate!
CCA currently issues more financial aid to students than we receive through the GASSO program. Help us close the gap by requesting a donation approval today!
Why do I need to make a pledge?
Your pledge will be sent to the Georgia Dept. of Revenue for approval. Since the state allocates $100M annually to fund this program, your pledge will ensure that you receive a portion of the available funds as a tax credit. Georgia DOR reviews pledges the first week of January each year. If the $100M cap is exceeded, approved pledges will be pro-rated. If the cap is not met, pledges will be fully approved and other donors can still make a pledge and receive a tax credit until the annual funding cap is reached.
Where do I send my donation?
Once approved, you should send your donation to Georgia SSO (GASSO). You can donate online at www.georgiasso.com or by mailing a check to GASSO at PO Box 1752, Cumming, GA 30028.
How do I receive my tax credit?
When you e-file your Georgia Income Tax return, be sure to include your Qualified Education Expense donation to claim your dollar for dollar tax credit. This is typically a final question using online tax filing services. Be sure to notify your accountant or tax preparer so they are prepared to claim your tax credit.
Can I designate which students receive scholarships?
No. State law explicitly states that donors may not designate funds for particular students. CCA determines which students will receive scholarship funds based on need.
More FAQs are available at www.georgiasso.com/faq.