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Indiana State Tax Credit Program and the Traders Point SGO Scholarships

 


 

What is it?

 

Three years ago, Traders Point established a scholarship fund through Sagamore Institute called the SGO. This is a special scholarship that helps qualifying families better afford to send their students to the school of their choice.

Once the SGO Scholarships have been awarded to our qualifying students, we are able to identify our need for the year. Then Traders Point works to raise the needed funds through donations, and Indiana assists by providing a SIGNIFICANT INCENTIVE to our donors for supporting our SGO fund.   

How does it work?

 

The program provides a 50% STATE TAX CREDIT to YOU on your donation amount.  In addition, the donation is eligible for federal deduction if you itemize. It enables you to give a substantial gift to the school, while also providing benefit regarding your tax liability. For a better idea of the potential savings and impact, see the chart below representing a $1,000 gift.

Thank you for gifting our students with an education that will impact them for eternity! 
 
 

 

Fund for Tax Credits Projected to RUN OUT in Record Time!

Indiana replenished the Tax Credit Fund for SGO gifts TODAY, JULY 1st, and added an additional $1 million to the total available. Even though the amount has increased over the past two years, the fund has depleted earlier each year. It is projected that this year's funds will be gone by December.

Act soon to secure your credits for 2016!

 

Click here for How to Donate

 

Click here for FAQ's and Donor Form

 

Click here for a quick presentation.

 

 

You Have Three Options for Donating (Click each option for more information)

 

Print the Tax Credit Scholarship Donation Form, complete it indicating Traders Point Christian Academy as the school you are supporting, and mail it to us along with a check made out to Sagamore SGO.

Donate Stocks or Securities through Sagamore's Single Charity Fund with the National Christian Foundation.

Donate Online through our partnership with iDonate.  Donate using a credit card or checking account.  iDonate can also be utilized to set up recurring donations.  Additionally, iDonate offers the opportunity to donate just about anything… vehicles, jewelry, electronics and even commodities.

 

More Information on the Tax Credits

 

On July 1, 2015, Indiana raised the available fund by $1 million, allocating $8.5 million this year in tax credits for individuals or businesses as an incentive to fund SGO scholarships.

Your donation may be restricted to scholarships for students attending Traders Point Christian Academy.

There is NO CAP on the amount of tax credits a donor can secure as long as they are available. (See link below for tax credit balance for this fiscal year.)

The tax credit can be applied toward your Indiana income tax liability (it may not be refunded or applied to a tax liability from a prior year).

When filing your state return, your credit should be reported as a School Scholarship Credit, code number 849 and your return must include Schedule IN-OCC 55629.  Form IN-OCC 55629 can be found here.  (The tax credit certification number you receive with your receipt letter needs to be entered in Column C and the code number 849 is entered in Column D).

If after filing your Indiana Tax Return you possess unused school scholarship tax credits, you may carry these forward to be applied to subsequent annual filings for up to nine (9) years.

Follow this link to the Indiana Department of Revenue website to find the available balance for the current fiscal year: IN Department of Revenue SGO Tax Credit Availability  Consider donating early in the year to ensure availability of tax credits.

For more information, please contact Kraig Cox or Leslie Kowal at 317-769-2450

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