$504,500 estimated in Virginia tax credits scholarships at EMS
The Virginia Department of Education (VDOE) Tax Credits program is an initiative aimed at enhancing educational opportunities within the state. Established to encourage private sector investment in education. This program offers tax incentives to individuals and businesses that contribute to eligible educational organizations.
Contributors receive a 65% tax credit and other benefits depending on their tax situation. Donating appreciated stock or itemizing deductions increases the savings. Seniors with an IRA can reduce their annual taxable income by directing their Qualified Charitable Distribution (QCD) to this program. Please consult your tax advisor to learn more. Individuals can give between $500 – $125,000 in pre-approved contributions. Businesses have no limit!
The program seeks to empower students, parents, and educators while fostering a sense of community engagement and support for education. By redirecting a portion of your state tax liability, you’ll empower students to access quality education at EMS. It’s an opportunity to shape the future while enjoying valuable tax benefits.
72 students enrolled at EMS are eligible to receive funds through this program in the 2023-2024 school year. An average of $7,000 in financial aid is available for each eligible student. That’s an estimated $504,500 total available!
Through this initiative, students who might not have had access to certain educational opportunities can now receive the financial support they need to thrive academically. The program benefits our school community by increasing the economic diversity of our student body. Scholarships funded by tax-credited donations provide families with access to educational alternatives that may better suit their children’s needs. Promoting educational equity ensures that every child has the opportunity to receive a high-quality education.
Join us in fostering a community dedicated to education and equal opportunities at EMS.
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