People who pay IL state income tax can re-direct their state income tax liability into scholarships for students at Peoria Notre Dame through the Illinois Invest in Kids Act. Scholarships are funded through donations to Scholarship Granting Organizations (SGOs) such as Empower IL which also administers the application and awarding process. Donations to the scholarship program are then eligible for a 75% state income tax credit. Find out more below.
In 2017, bipartisan lawmakers passed the Illinois Invest in Kids Act. This historic law transforms lives by providing up to $100 million in scholarships for students from low-income and working-class families throughout the state.
The program is similar to a 4-to-1 match on a donation. For every $1,000 donated to the SGO, the donor will receive a $750 income tax credit when filing their IL state taxes. The net donation to the individual is only $250 and yet Peoria Notre Dame will receive nearly $1,000.00.
While there are several SGOs available, all the Catholic dioceses in IL prefer donors and schools use Empower IL. Individuals choosing to participate in the program can select the school(s) they wish to receive the funds. You will need to know that Peoria Notre is in Region 3. Once you enter Region 3, you will see Notre Dame High School as an option. If you have a source of taxable income from the state of Illinois (this excludes retirement income), then this program could reduce your tax bill to zero AND you will be helping a family who otherwise might not be able to enjoy a Catholic high school experience at Peoria Notre Dame.
If you have any questions, please contact Cindy Dermody, Director of Advancement at email@example.com or (309) 691-8741.