The Qualified Education Donation Tax Credit lets individuals and corporations donate money to the nonprofit Innovation Fund Foundation, which provides innovative, community-focused grants for public schools.
The Qualified Education Donation is a 100% tax credit, which means donations trigger a dollar for dollar credit – not just a deduction – on your state income taxes. In practical terms, if you donate $1,000 to the Innovation Fund, then your state income tax bill is reduced $1,000. Then, that $1,000 is used to spur innovation in Georgia’s schools.
You may be wondering where the funding goes. By law, the Innovation Fund Foundation can only spend donations to provide innovative grants to public schools and eligible partner organizations. In addition, the Foundation gives priority to our lowest performing 5% of schools, giving them lifelines of additional support.
As I campaigned across our big state, I spoke of the “Four Cs” – Churches, Charities, Corporations and Citizens. I want them to collaborate with the government to solve our biggest problems. The Innovation Fund Foundation grants incentivizes the Four Cs to partner with their local schools to help the kids in their communities.
I also campaigned on the vision of Georgia becoming the Technology Capital of the East Coast. For that to happen we need a strong workforce, and K-12 education is the foundation of that pyramid.
To date, the Innovation Fund Foundation has invested over $1.6 million in grants awarded to traditional and charter schools, school districts, nonprofit organizations, and post-secondary institutions across Georgia.
Here are some examples:
--Coleman Middle School of Gwinnett County Schools received a Community Partnership Grant for $45,000 to implement a mini biosphere that utilizes aquaponics, farming, and hydroponics for students to grow and harvest crops for the community.
--Georgia Southern University received an Innovation Summit Pilot Grant for $6,900 to build a mathematical community at Susan Dasher Elementary School by providing students, teachers, and families with opportunities to work on scalable projects that engage people of all ages with the STEAM fields.
You can find more about the Innovation Fund Foundation's impact here. With your help, the foundation will be able to continue to fund remarkable programs like these.
Given that we are nearing the end of the year, I hope you consider making a donation to the Innovation Fund Foundation. Step-by-step directions for how to donate and receive the tax credit can be found here.
Choose where your tax dollars go and make your mark on Georgia’s 1.7 million public school students.