Tax Credit Scholarships (SGO)
About The Program
The Indiana Tax Credit Scholarship Program was established to incentivize private donations to fund educational choice for low to middle income families attending non-public schools. Alternatively, it’s been called the SEC (Scholarships for Education Choice) and SGO (Scholarship Granting Organization) program. Whatever you call it, it has been one of the most exciting and beneficial programs produced by Indiana’s state government in recent years.
The SGO program has provided many families with the funds necessary to allow their children a Christian education. When you give to the SGO program, through the Heritage Fund, your wise stewardship provides students a scholarship towards an education centered on Christ.
- How It Works
- Donor Benefits
- How This Program Helps Heritage
- Donation Amount vs. True Cost
This is a practical way to protect more of your money from taxation through generous tax credits, allowing you to invest in Heritage students and impact the school’s budget.
Individuals and Corporate
Both individuals and corporate donors qualify for this credit, up to $14 million annually statewide.
Tax Credit & Deduction
In addition to the 50% Indiana state credit, your gift may also qualify as a charitable deduction on your federal tax return.
Affordability for Students
Your gift provides access to Christian education for needs-based students at Heritage Christian.
- Your gift qualifies for a 50% state tax credit and will be subtracted from your Indiana tax due.
- Your gift may also qualify as a charitable deduction on your federal tax due.
- Appreciated stock gifts receive multiple tax advantages.
- Those aged 70.5 or older can give out of IRA's and redirect tax dollars to benefit Heritage.
Consider discussing this program with your tax advisor.
Approximately 300 Heritage students are assisted annually through this creative and unique tax-incentivized giving program.
The Heritage school budget benefits as well. Once we have met our baseline commitment to students in the program, we can use additional SGO funds to further benefit students requiring additional assistance, allowing Heritage to reduce its own budgeted financial aid spending.
Giving into the SGO program frees up finances for Heritage to use on other critical operational needs outlined in the Heritage Fund.
Perhaps a $10,000 gift to Heritage has always seemed unachievable. What if that $10,000 gift only cost you $2,000?
Perhaps a $100,000 gift to Heritage is something you’ve never considered. What if that $100,000 gift only cost you $15,000?
Perhaps a $1 million gift to Heritage seems entirely unrealistic. Consider a combination of a business sale or unexpected bonus or one-time earnings creating a heavy tax burden. What if you were able to give cash and appreciated stock (with tax-free capital gains in addition to a 50% state tax credit and possible federal deduction) that blessed Heritage with $1 million with a personal or business cost to you of $150,000?
From a Donor:
"When I first heard about the opportunity to donate to HCS’s financial assistance program through the Sagamore Institute SGO it sounded too good to be true. After an examination by my advisers, I was very happy to be able to give towards financial assistance at HCS using this vehicle. I am not aware of another giving opportunity that allows you to reallocate such a large percentage of funds away from the federal and state government and to a more deserving cause."
From a Scholarship Recipient:
"It has allowed my children the opportunity for greater stability, higher academic standards in their education, and the ability to choose a spiritually grounded school that really focuses on the children's character building as well as intellectual development. These opportunities are absolutely priceless!"
From a Scholarship Recipient:
"The opportunity to have this scholarship allows us to provide our large family with the same opportunities as smaller families. We foster children and appreciate the chance to provide them with experiences that they can only receive at a Christian school."
How To Donate
In order to secure your state tax credit, each donation requires an online donation (see below) OR a completed Donor Form (for checks). Make checks payable to Sagamore Institute SGO and mail the form with the donation to Sagamore Institute SGO, 2902 N. Meridian Street, Indianapolis, IN 46208. (Please leave the check memo line blank). When you give, Sagamore will apply your gift to the state for your tax credit and will issue your income tax receipt.
Sagamore Institute SGO
Sagamore Institute SGO is an Indiana state-certified scholarship granting organization that partners with HCS on this program.When you give, Sagamore will apply your gift to the state for your tax credit and will issue your income tax receipt. More information regarding Sagamore Institute is available at scholarshipsforeducationchoice.com.
For More Information
For more information, contact Heritage's development office at email@example.com or the Sagamore Institute at scholarshipsforeducationchoice.com.
For information on receiving a Tax Credit Scholarship (or Education Choice Scholarship) for your student, visit our Financial Assistance page.