- Obtain a charitable giving receipt
- Receive 70% of the gift value as a State Tax Credit
- Earn additional tax benefits as a charitable donation (Federal & State, refer to your CPA)
- Benefits apply to both individuals and businesses
- Tax credit may be claimed and deducted from the taxpayer’s tax liability during the year in which the contribution was made or may carry forward (see FAQs)
- Contributions may be monetary (cash, check, credit card), marketable securities, personal property, or real estate
- Direct your tax dollars to help children receive a quality Christian education
- Help to improve a community through the values-based culture the education you sponsor will provide
Who Qualifies to Give?
Donors eligible to make contributions to a scholarship granting organization (SGO) and receive tax credit currently include:
- Individuals and businesses (including shareholders, partners, members in pass-through entities and fiduciary taxpayers)
- Taxpayers with a privilege tax liability
- Taxpayers with a premium tax liability
- Corporate income tax liability
- C Corporations filing a corporate income tax return pursuant to the Kansas income tax act and amendments thereto
- Taxpayers filing a privilege tax return pursuant to K.S.A. 79-1105c et seq. and amendments thereto
- Companies filing an insurance premium tax statement pursuant to K.S.A. 40-252 and amendments thereto
- Contact Renewanation about your desire to participate in this program to help children receive a Christian education.
- Submit your contribution to Renewanation.
- Renewanation with electronically submit your information and contribution to the Kansas Dept. of Revenue (KDOR).
- The KDOR will review and approve or deny the contribution based on the program’s remaining available credits and $10 million cap.
- Renewanation will provide a copy of the approval or denial notice to the tax credit applicant.
- If approved, Renewanation will also provide the tax credit applicant with a tax credit certificate to be used when filing annual tax returns.