Cardinal Cupich joined public officials and students and parents at a rally celebrate Illinois Tax Credit Scholarships Feb. 22 at St. Nicholas of Tolentine School. Saints & Scholars: An Evening Celebrating Catholic School Excellence. H\@z9A>ld#1~L"[va68vi}xn~-<5Y/p1tx. 1 0 obj Donors to the new program will receive a credit off their state of Illinois income taxes equal to 75 percent of their contribution. Consider applying for your tax credit today. <> xmkAwZp}Dmc4/4 Its been an opportunity to increase our enrollment. TAX CREDIT SCHOLARSHIP PROGRAM - 1-for-1 Matching Gift is Now Open! Of the 199 students at St. Anastasia, 39 have received tax-credit scholarships through Empower Illinois, one of the scholarship-granting organizations the archdiocese works with. ]x+ This law allows for a 75 percent state income tax credit for any charitable donation to an approved scholarship granting organization (SGO). Donors can choose the schools whose students benefit from their gifts, but not the particular students who receive scholarships. Chicago, IL 60690-1979 312.534.8393 F: 312.534.8302 [email protected] Evelina Dadal Senior Administrative Assistant 312.534.5293 F: 312.534.8302 [email protected] Jim Hennessy Director, Financial Planning & Analysis 312.534.8063 [email protected] Shannon Miller Manager, Treasury & Banking 312.534.5399 [email protected] Tony Dinolfo Bank . Since the programs inception, over $10 million dollars in scholarship money has been awarded to nearly 7,000 students at 100 schools across the archdiocese. Chicago, IL (December 31, 2017) - The Illinois "Invest in Kids" Act, signed into law in August, includes a provision for tax credit scholarships. The credit may be rolled over for five years. endobj That means someone who donates $1,000 would get a $750 tax credit. Chicago - (Dec. 1, 2021) - Today, the Archdiocese of Chicago released a video message featuring Cardinal Blase J. Cupich, archbishop of Chicago, and Catholic school families speaking in support of tax credit scholarships. The Caritas Scholarship Program is offered to elementary school students attending Archdiocese of Chicago Catholic Schools. State legislators preserved the credit at 75% and extended the program an additional year. Visit Tax Credit Scholarship Information for more information, or contact the Tax Credit Scholarship Office at the archdiocese at tcs@archchicago.org or (312) 534-2617. The state caps donations through the program at $100 million a year, or $75 million in tax credits, but the program has never come close to that limit. The scholarship granting organizations grant partial or full scholarships to students from low- and middle-income families at recognized schools, giving priority to families with the most financial need. Donations can be directed to specific sets of schools such as Catholic schools in the Archdiocese of Chicago or to individual schools. Advocates are hoping that the increasing support makes it more likely that the program will become permanent. Theyre telling others their friends, their relatives, their neighbors all about St. Nicks. 0000003873 00000 n Payment rates are based upon the age of the annuitant at the time you establish the gift annuity. But 106 students applied for scholarships to St. Anastasia and did not receive them because there was not enough money available, Sullivan said. We are writing to urge you to support an alternative plan which includes (1) scholarships to trade schools, (2) an increase in the Invest in Kids tax credit and (3) annual renewals for scholarship students. The scholarship is awarded to families in need of financial support to continue placing their child or children in Catholic school. The Tax Credit Scholarship program (TCS) awards scholarships to students whose families would not otherwise be able to afford Catholic school tuition. The Archdiocesan Bank is pleased to offerNetTelleras a 24/7 Online Banking Service. 0000003357 00000 n Micaela Resendez Bank Facilitator 0000001212 00000 n %PDF-1.5 0000001029 00000 n endobj Read the Full Story . They had a delayed start so parents had the opportunity to apply for tax credit scholarships that morning. <> This year, eight major donors provided $5.2 million in matching funds. You can also reach FACTS Management Co. at 888-470-6008. If you do not have one, the first step is obtaining a Letter ID from the Illinois Department of Revenue. For more information, please visit the Archdiocese of Chicago's Tax Credit Scholarship page. Our Catholic schools individually offer a variety of scholarships and financial aid options to help make them affordable and accessible for all those who wish to attend. Receive fixed payments for life - for yourself or a loved one age 60 or older. Tax credit scholarships are awarded on a first-come, first-served basis. Most of the donations for Catholic schools in the archdiocese are directed to individual schools, said Clare Sullivan, director of scholarships for the archdioceses Office of Catholic Schools. That means a $500 donation for scholarships at a particular school will triple to $1,500 in scholarship money at that school. For example, if a person donates $100,000, they will receive a state tax credit of $75,000. That includes 138 archdiocesan schools, along with independent Catholic schools and those operated by religious communities. Scholarships can be full or partial, depending on family income. We are here to guide you through the process. All funds designated to the trust are reserved exclusively for scholarships for students in Catholic schools in Cook and Lake counties. stream endobj Tax Credit Scholarships Invest in Catholic Schools - Fund a Child's Future The Invest in Kids Act's Tax Credit Scholarship Program provides strong incentives for donors to support Illinois children from low-income homes and guarantees a high-quality education at a Catholic school of their choice. Some of it can be attributed to a matching program the archdiocese has run for the past three years, lining up major donors to give double the amount of any donation to scholarships for archdiocesan Catholic schools starting Dec. 1 and going until the money runs out. That means a donor who gives $1,000 through the program can claim a $750 tax credit. To learn more about the Tax Credit Scholarship program or to apply for a scholarship, click here. Phoenix Scholarship. <> They had people lined up and ready to donate on Dec. 1.. Donors can make a gift at any amount that fits their financial circumstances, and they can designate their gift to a school of their choice. The schools were ready for it, Keating said. Through this program: An individual or corporation will receive a 75 percent credit on donations to an SGO. L.6*,+:K[RxL}"nd$*M,};_[Mi. A gift or pledge may be made at anylevel that fits your circumstances. The scholarship may be renewable annually based on a continued demonstration of need and meeting other criteria. For example, if a person donates $10,000, they will receive a state tax credit of $7,500. c4"& +fF\2)rLJ1NY8OSb{|$ft?kw;bY64jNV>QP{F'1+ lI endstream endobj 16 0 obj <> endobj 17 0 obj <> endobj 18 0 obj <> endobj 19 0 obj <> endobj 20 0 obj <>stream Their contribution will be used to support scholarships for students from low-income households to attend a non . It and a scholarship-granting organization run by the Big Shoulders Fund are the two preferred organizations that work with schools in the archdiocese. Participants hold signs as representatives from over 10 Catholic schools in the Archdiocese of Chicago gathered March 11, 2019, at St. Agnes of Bohemia School for a tax-credit scholarship celebration with Empower Illinois. Tax Credit Scholarships Annual Catholic Appeal If you are a parent in need of a scholarship or financial assistance, please contact your local school/parish. Contact Us. 0000012125 00000 n Students may use these scholarships to attend a non-public school of their choice, including the 157 archdiocesan schools in Cook County and Lake County. Schools can go to donors and say, Weve got 10 people on the waiting list.. For example, if a person donates $10,000, they will receive a state tax credit of $7,500. We hope you will join us in supporting Archdiocese of Chicago Catholic schools and provide more children a quality Catholic school education. This program: * allows you to directyourtaxes where you want them to go * provides financial assistance to low-income families * helps the 19 Catholic schools in the Archdiocese of Oklahoma City, particularly those most in need. St. Nicholas families and board members work to share the schools story and encourage people to donate for tax-credit scholarships, Menden said, including helping them through the process, which has several steps. Schools involved were St. Joseph in Summit, St. Nicholas of Tolentine, St. Gall, St. Symphorosa, St. Richard, Queen of the Universe, St. Bruno and St. Mary Star of the Sea. endobj Photo provided For Yuridia Carbajal and her family, the Illinois Invest in Kids tax credit scholarship program has been a lifeline. Or, click here to learn more. Holter is encouraging school leaders and families to help get the word out. 0000018689 00000 n To ensure the trust is a long-term source of funding for scholarships, only a portion of its income is disseminated each year through The Phoenix Scholarship Program. The matching program, which Keating hopes to repeat in December 2022, makes dollars go even further. Help us save scholarships for thousands of Catholic school students. Name of SGO to which he/she plans to donate (the archdiocese is partnering with Empower Illinoisand Big Shoulders Fund SGO); Empower Illinois is affiliated with the 1-for-1 MatchProgram. When the Tax Credit Scholarship Program began in 2018, three of Ebony's children were able to attend Sister Thea Bowman Catholic School on full scholarships. To try to make more scholarships available, a group of donors in the Archdiocese of Chicago have banded together to offer a two-to-one matching gifts to any donations made to Empower Illinois, a scholarship-granting organization, as long as those donations are earmarked for Catholic schools in the Archdiocese of Chicago. Participants hold signs as representatives from over 10 Catholic schools in the Archdiocese of Chicago gathered March 11, 2019, at St. Agnes of Bohemia School for a tax-credit scholarship celebration with Empower Illinois. 0000007410 00000 n The first Phoenix Scholarships were awarded from the Catholic Education Scholarship Trust for the 2016-17 school year. Passed in 2017, the Illinois Invest in Kids Tax Credit Scholarship Program provides scholarships to students from low-income and working-class families to attend their best-fit school. Jay Pritzker proposed trimming its tax credit from 75% to 40%, meaning donors would only get 40 cents of every dollar they donated off their taxes. The match doubles the impact of your gift and applies to the next school year (2023/24). That means every dollar designated to a qualifying school through our partnering scholarship granting organization, Empower Illinois, on or after Dec. 1, 2022,will be matched. The program ends when matching funds have been depleted or on March 31, 2023, whichever comes first. Donations for tax credit scholarships to archdiocesan Catholic schools are up about 20 percent over the same time last year, according to archdiocesan officials. To review the process, click here. The scholarship-granting organizations were created as part of a five-year pilot program passed in 2017 that allows Illinois taxpayers to take a 75 percent tax credit for money donated to scholarship-granting organizations, which in turn give scholarships to students from lower income families. At St. Nicholas of Tolentine School, 3741 W. 62nd St., close to 70 of the 420 students have received tax-credit scholarships from either Empower Illinois or the Big Shoulders Fund, the other scholarship-granting organization with which archdiocesan schools work, and many students receive other scholarships or forms of financial aid, said Mariagnes Menden, the schools principal. Plenty of Chicago-area Catholic school families and leaders are excited about the opportunity for students to receive tax-credit scholarships. 9 26 J.B. Pritzker that the state should not cut the tax credits included in the plan, which has allowed more than 20,000 Illinois elementary and high school students to attend private schools since 2018, the year the scholarships were first awarded. Bb! The Trust Board has elected to prioritize scholarships for families and schools with the greatest need. 11 0 obj %PDF-1.4 % About 2,970 Catholic school students in the Archdiocese of Chicago received scholarships averaging $5,965 for this school year, Sullivan said. Scholarships can be full or partial, depending on family income. Every year, more parents find out about us and apply, he said. We, the diocesan bishops of Illinois, write to you on an important matter of public policy and social justice. <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 7 0 obj <> Please note it takes 3 to 5 business days to process new requests. My son is a sophomore at Fenwick High School and my daughter is finishing up eighth grade at. Find a Catholic school near you and discuss the financial aid process with their enrollment team. mVp0l4]^xe 30ag@g Y(`U?>oP~I^#HsZVSNF $ @Q| Tax-credit scholarships, theyve been a blessing for us, Menden said. <> )jSt)IC>,{r7W_dE!Yq-js>,m6#}R Z0l]!\`MR8C0sC"INm$E3oKBMSPN The Invest in Kids Act's Tax Credit Scholarship Program provides strong incentives for donors to support Illinois children from low-income homes and guarantees a high-quality education at a Catholic school of their choice. Empower is a private scholarship-granting organization that works with about 80 percent of the private schools in Illinois, including the Catholic schools in all six of the states dioceses. We, the diocesan bishops of Illinois, write to you on an important matter of public policy and social justice. Fund a child's future and support a St. Mary School student with the Illinois Tax Credit Scholarship program. <> An individual receives a 75% state tax credit on donations. The Caritas Scholarship Program is offered to elementary school students attending Archdiocese of Chicago Catholic Schools. 0000009214 00000 n Bank Operations. Anyone applying for a scholarship tax credit is required to have an account. In the entire year from Dec. 1, 2020, to Nov. 30, 2021, Empower received $11.8 million designated for archdiocesan Catholic schools. That word-of-mouth might turn into another St. Nicks family. 0000016927 00000 n As many of you know, four years ago Democrats and Republicans worked together to pass the Invest in Kids Act on a bipartisan vote. Anthony Holter, executive director of Empower Illinois, said a similar matching gift program last year brought in about 115 new donors, and he hopes for similar or better results this year. The following Archdiocese of Chicago Catholic schools are eligible for the 1-for-1 match through the Invest In Kids Tax Credit Scholarship Program. 9 0 obj <> endobj xref No donation is too large or too small. ;:iseYF~lke[aoykoEvh0^vs}s"WOfZDoUz-`g:,f Mes">R}&{ Visit the FACTS website to enroll in or access your payment plan account. 0000003760 00000 n It really is a win-win situation.. Archdiocesan Council of Catholic Women (ACCW), Immigrant Affairs and Immigration Education, Stock/Mutual Fund Donation Procedures with Letter of Intention, Annual Catholic Appeal Stock/Mutual Fund Donation Procedures with Letter of Intention, Annual Catholic Appeal Stock Gift Letter of Intention, TTWCI Stock/Mutual Fund Donation Procedures with Letter of Intention, Quickly access account information and balances, Send and receive secure messages regarding accounts, Set email alerts for notification of specific transactions or events. For Yuridia Carbajal and her family, the Illinois Invest in Kids tax credit scholarship program has been a lifeline. 1/11/2023 Big Shoulders Fund's Tax Credit Scholarship application opens tomorrow morning, January 12 at 8:00am. Without this scholarship, thousands of students would not have the opportunity to receive quality education and grow in a faith-based environment. endobj 0000007498 00000 n No donation is too large or small. More than 3,000 students in archdiocesan schools have benefited from the scholarships. % 0000001156 00000 n Robin McAfee, acting principal at St. Anastasia School in Waukegan, said her school relies on alumni, parents and other family members to get the word out, because getting children into her school and keeping them there ends up benefiting the whole community. If you are a prospective Catholic elementary school parent, the first step is to identify the preferred school for your child. 0000008026 00000 n CHICAGO (CNS) Donations for tax-credit scholarships to the Archdiocese of Chicago's Catholic schools are up about 20% this year compared with the same time last year, archdiocesan. That student coming into our building, and theyve never been here before, theyre becoming part of the St. Nicks school family. Our kids go on to graduate from high school and go to college, and for a lot of them, theyre the first ones in their families to do that. To receive a full scholarship, a family of four cannot have an income of more than $48,500. Take advantage of a 1-for-1 Matching Program and donate to the scholarship program between Dec. 1, 2022 and March 31, 2023, or until all matched funds are depleted (whichever comes first). Last spring, Illinois Gov. Advocates for tax-credit scholarships in Illinois are planning to mobilize to persuade state legislators and Gov. Donate to a Tax Credit Scholarship Catholic School Board Chair Asks For Your Support - "Invest in Kids" Tax Credit Scholarship Program Watch on We are here to help with the donation process. 0000004718 00000 n xohUq]wlN:7 >@} fH% 5 0 obj More than 11,000 students have received scholarships since the program started in 2017. Donations are crucial to our survival, and our survival is crucial to the community, said McAfee, noting that St. Anastasia participates in a number of private and archdiocesan scholarship programs as well to make it possible for families to enroll their children.

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