Giving

Printable Version

State of Georgia Qualified Education Expense
Tax Credit Program Frequently Asked Questions


What is the Georgia Education Expense Tax Credit program?
The Georgia Education Expense Tax Credit program is possibly the most popular tax credit in the state. It allows Georgia taxpayers to redirect a portion of their Georgia state income taxes to help students attend independent schools like Whitefield Academy.

How does the tax credit program work?
Individual schools partner with student scholarship organizations (SSO) to administer the program. Whitefield Academy has chosen Georgia GOAL Scholarship Program as our SSO. More information about Georgia GOAL can be found at www.goalscholarship.org.

What does a tax credit look like?
A tax credit is significantly more beneficial than a deduction because it reduces your Georgia state taxes dollar-for-dollar versus a deduction, which reduces the total taxable income on which taxes are calculated.

Who is eligible to receive Georgia Education Expense monies?
Qualifying students are qualified financial aid recipients who are coming from either a Georgia public school, home school or entering Pre-K or Kindergarten.

My child is already at Whitefield Academy, why should I participate?
One of Whitefield Academy’s core values is an enrollment that reflects the racial, ethnic, and economic diversity within the body of Christ. This program is just one of the ways that we are seeking to fulfill that core value.

If I participate in the tax credit program, does this count as my gift to the Whitefield Fund?
No. While participation in the Tax Credit program benefits Whitefield Academy by enhancing the budget for financial assistance, it is not considered a donation. When you participate, you redirect tax dollars already owed to the state. We continue to rely on your support of the Whitefield Fund, Alumni Fund, Leaving a Legacy campaign and other donations to make the Whitefield experience truly exceptional for our students.

How will contributing to Georgia GOAL impact my federal income taxes?
IRS Regulations, finalized in June 2019, make it clear that taxpayers will experience no cost or financial advantage for contributing to state income tax programs, like Georgia GOAL. Their contribution will simple be a “wash” for federal income tax purposes.

How much do I contribute?
  • $2,500 for married couples filing jointly
  • $1,250 for married couples filing separately
  • $1,000 for individuals

Can my company participate?
Yes.
  • Up to $10,000 for S-corp shareholders, members of an LLC or partners in a partnership
  • Up to 75% of Georgia tax liability for C-corporations or trusts.
Note: Taxpayers are not able to combine the individual tax credit opportunity with the pass-through opportunity. The taxpayer must choose to file individually/jointly or as a pass-through entity

Can my company match my contribution?
Yes. Georgia GOAL Scholarship Program is a 501(c)(3) charitable organization and therefore qualifies to receive corporate matching funds. Participants should ask their Human Resources or Community Relations office to find out if their employer has a matching gift policy and for paperwork. After completing the paperwork, the participant will submit the form to Georgia GOAL to confirm the donation so that the process can be completed.

Has Whitefield changed the admission criteria to accommodate students who qualify for this program?
No. Admission standards will not be relaxed. All recipients must complete our regular application for admission and apply for financial aid. Acceptance for admission will be based on the current standards and criteria for admission to our school. Exceptions will not be made for applicants who are eligible for this program. The program simply allows families with qualified students who had not previously been able to attend our school due to monetary constraints to do so.