Donate to St. Matthew School Scholarships:
Help Families Afford a Quality Catholic Education
and Get Substantial Tax Credits
Dear Parishioners, School Families and Friends of St Matthew Catholic School:
Catholic schools have long been known for their academic excellence, moral formation and service to others. St. Matthew Catholic School embraces these values and strives to provide a strong academic curriculum in a caring and open school community. A Catholic education at SMS is a priceless gift that many parents would like to offer their children; however, for some, it is financially difficult or impossible. With the help of generous donors like you, our goal is to be able to offer this opportunity to a significant number of parents and students who are committed to our Gospel and community values.
Last year, thanks to your support, 30 deserving students received a total of $34,000 toward their SMS tuition. This year, 22 deserving students have applied for tuition assistance grants, which are based on financial need. These families come from all walks of life: single parents and families with two-parent homes; parents with professional occupations, recent college graduates, or those who serve our community. What they have in common is that they want the best for their children and are committed to the mission of SMS!
With the Indiana Choice Scholarship (voucher) expansion, you may wonder if there is still a need for this kind of student scholarship. While vouchers are an excellent opportunity, they do not always cover the entire cost of tuition. Many families need additional assistance and apply for financial aid from St. Matthew. All applications are carefully reviewed by our financial aid committee. The voucher program has allowed parents a wide range of school options, so it is a compliment to the SMS community that parents are choosing our school ministry. We want to welcome these families: to serve them and to serve with them.
Would you consider giving a child the gift of an SMS education? Please prayerfully consider what your gift might be. Small gifts matter as much as large donations because when we commit together to a common goal, important work can be accomplished. Information regarding how to make your contribution is included. Please see the reverse side for answers to frequently asked questions.
On behalf of the students at St Matthew Catholic School, I thank you for the many ways you make a difference in our community.
Donate Now. To learn more, watch the video at https://www.i4qed.org/sgo/donors. You can make your contribution printing out and mailing in the form at https://bit.ly/StMattSGO or by donating electronically at https://sgo.i4qed.org/donate. Be sure to specify St. Matthew Catholic School, Indianapolis, as the designated school.
FREQUENTLY ASKED QUESTIONS
What is an SGO?
An SGO (scholarship granting organization) is an entity that awards Tax Credit Scholarships to eligible students.
St. Matthew Catholic School partners with the Institute for Quality Education (IQE), one of six SGOs that has been certified by the Indiana Department of Education (IDOE).
Where does an SGO receive its funding?
Qualified SGOs receive funding for school scholarships from private, charitable donations that come from generous donors like you! Donors are eligible for a 50% Indiana tax credit and for a federal tax deduction.
How do the Indiana tax credit and federal tax deduction work?
You will receive a letter from IQE with the amount of your donation and the tax credit certification number (TCCN). The TCCN is provided by the Indiana Department of Revenue and must be included on your Indiana tax return to receive the state tax credit. For example, if you donate $1,000 to IQE, you may take a $500 Indiana tax credit (50 percent of the amount of the contribution). If you itemize deductions on your federal income tax return, you may claim a $500 charitable deduction which results in $110 in federal tax savings if you are in the 22% tax bracket. Thus, your $1,000 donation to help a low- or middle-income family afford a St. Matthew education only costs you $390! To fully understand the effects of the Indiana SGO tax credit on your individual income tax return, please consult with your tax advisor.
Is there a limit on the amount that I may contribute annually?
No! There are no limits to how much a donor can contribute to a qualified SGO, however the entire tax credit program cannot award more than $18.5 million in credits for the year ending June 30, 2024. The Indiana Department of Revenue provides the total credits awarded to date on its website at https://www.in.gov/dor/individual-income-taxes/school-scholarship-credit/.
Now that most students are eligible for Indiana Choice Scholarships (vouchers) is there still a need for donations to SGOs?
Yes! Vouchers do not cover the entire cost of a St. Matthew education for many students. Many of these families are still in need of financial assistance to pay the tuition balance for their children to attend St. Matthew.
How do I donate?
All donations need to be payable to the Institute of Quality Education and submitted directly to IQE. Be sure to specify St. Matthew Catholic School, Indianapolis as the designated school. Forms are available online at https://bit.ly/StMattSGO and https://sgo.i4qed.org/donate.
What if I have more questions?
Questions may be emailed to Cara Swinefurth at email@example.com.