75% TAX CREDIT SCHOLARSHIP DONATION
By making a Northridge earmarked donation to a Scholarship Granting Organization (we use Empower Illinois), you can reduce (or even eliminate) your state income tax liability and provide scholarships to Northridge students.
75% of your scholarship donation amount goes towards a state income tax credit for you while financially assisting Northridge students.
A friend of Northridge estimates his/her State Illinois tax liability is $7,500…
SCENARIO 1
- Pay $10,000 to a Scholarship Granting Organization (SGO) through the Illinois tax credit program
- Receive a $7,500 IL state tax credit (75%)
- Net cost to you: $2,500
NORTHRIDGE STUDENT RECEIVES
$
(Includes 5% admin fee)
SCENARIO 2
- Pay $7,500 to the State of Illinois
NORTHRIDGE STUDENT RECEIVES
$
Would you like to take advantage of this or just learn more?
Contact Pat Healy (CFO) at phealy@northridgeprep.org or 847-375-0600 (Ext. 480)
More Information
- In 2017, the Illinois Legislature passed the Invest In Kids Act, allowing individuals and corporations to direct up to $1,000,000 of their state income tax liability towards education.
- The Tax Credit Scholarship (TCS) is awarded annually through a lottery system to families who meet a household income level set by the State of Illinois.
- Scholarships are awarded by third-party organizations (e.g. Empower Illinois) to students that Northridge admits.