Scholarship Granting Organization (SGO)

Scholarship Granting Organization (SGO)

Reitz Memorial High School has partnered with the Institute for Quality Education (IQE) as our official Scholarship Granting Organization (SGO). An SGO is a state-designated 501(c)(3) that provides financial needs-based scholarships to students enrolled in non-public schools. All of the scholarships that are awarded are funded by private donations, and the donor can elect to designate their gift to a certain school.

By giving a gift through IQE and designating it to Reitz Memorial High School, you will be providing needs-based scholarships to eligible incoming and current RMHS students that will enable them to experience the unique Reitz Memorial education. As a donor to IQE, not only are you providing much needed scholarships, but you will also qualify for an INDIANA STATE TAX CREDIT of 50%, and the balance is still eligible for a federal tax deduction. This program is not only available to individuals, but to companies as well.

In order to receive the 50% State tax credit, your gift must be made to the Institute for Quality Education. Reitz Memorial High School ensures your funds will be used to provide scholarships to RMHS students in financial need.

Donation
Amount

State Tax
Credit

Net Federal
Deduction (1)

Federal Tax
Savings 30%

Total Tax
Savings

After Tax
Cost (2)

$50,000

$25,000

$25,000

$7,500

$32,500

$17,500

$25,000

$12,500

$12,500

$3,750

$16,250

$8,750

$10,000

$5,000

$5,000

$1,500

$6,500

$3,500

$5,000

$2,500

$2,500

$750

$3,250

$1,750

$1,000

$500

$500

$150

$650

$350

$500

$250

$250

$75

$325

$175

(1) The net federal deduction is equal to the contribution less the state tax credit as state taxes are deductible for federal income purposes. (2) Actual after tax cost will vary based on your individual income tax status.

The Indiana credit cannot be carried back to prior years but can be carried forward for nine years. The above chart uses the example of a 30% tax bracket and is for illustration purposes only. Consult your tax advisor to verify your ability to utilize the state tax credit and federal tax deduction.

Here’s how to make your gift, and give students in financial need the opportunity to attend Reitz Memorial High School:

  • To make a gift by cash or check, please print off the following form and include, by mail, with your contribution: Donor Form

  • To make a gift by credit card, Click Here Please select Reitz Memorial High School to ensure that Reitz Memorial is the beneficiary of your donation.

  • To make a gift of stock, Click Here Please select Reitz Memorial High School to ensure that Reitz Memorial is the beneficiary of your donation. You may also contact the Institute for Quality Education directly at 317-951-8781.

If you have any questions, please contact Tom Miller in the Office of Institutional Advancement at (812) 474-2943 ext. 3410 or email tommiller@evdio.org.

For more information:
School Choice IN
Institute for Quality Education

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