The Paideia School

Financial Aid Tax Credit

Financial aid has been a cornerstone of Paideia School since our inception over 40 years ago. The auction, the annual fund, and numerous events on campus demonstrate our community’s commitment to financial aid. Now we have another opportunity to show that support. Many of you in the Paideia community know about the opportunity to redirect Georgia income tax dollars to Paideia’s financial aid program. After careful consideration, the Paideia board of trustees voted to join this program and the school has partnered with the Apogee School Choice Scholarship Fund, a 501(c)(3) Student Scholarship Organization (SSO).

The Financial Aid Tax Credit (FATC) program provides an opportunity for taxpayers to redirect Georgia tax dollars to provide financial aid assistance to incoming Paideia students that are currently enrolled in public school. Since joining this program in 2009, almost $5 million has been raised for financial aid that will fund long term financial aid assistance for qualifying students.

Here’s how it works:

  • Georgia taxpayers can make a contribution within statutory limits to an SSO.
  • The state of Georgia will then issue you an income tax credit in the full amount of your contribution.

The amount you may contribute depends upon your tax filing status:

  • Married Filing Jointly: Maximum of $5,000
  • Individual Filer: Maximum of $2,500
  • Married Filing Separately: Maximum of $2,500
  • Individuals who receive pass-through income can contribute up to $25,000
  • S-Corporations who elect to fund their GA tax liability at the entity level (starting in 2022):  Up to 75% of GA tax liability
  • C-Corporation: Up to 75% of GA tax liability.

The state of Georgia has placed an annual cap on the total amount of tax credits that may be awarded through this program. There has been a dramatic jump in Georgia taxpayers taking advantage of this program as it has gained momentum. Applications for the 2023 tax year are now available.

Married filing jointly

 

Maximum $5,000
Married filing separately

 

 Maximum $2,500

 
Individual filer

 

 Maximum $2,500

 

Members of qualifying pass through entities

 

 Maximum $10,000

 

C-Corporation

 Maximum 75% tax liability

 

“It was so easy and I even got a $60 higher refund because of it. Everyone in the Paideia community can do this.”

– Martha Caldwell, former Paideia teacher and alumni parent.

 

Thank you for considering a contribution to Paideia’s financial aid through this program. Participation has never been easier. The entire application can be completed through an electronic, paperless process by clicking here. If you have any questions, please contact contact John Iannini at fatc@paideiaschool.org.