Tax Credit Scholarships
Scholarships for Kids uses a portion of your tax liability to provide tuition assistance to students who demonstrate a financial need. You’re not just giving a scholarship, you're getting a tax credit. By redirecting a portion of your tax liability to Scholarships for Kids, you reduce the total amount of your tax bill by 100%.You have an opportunity to give a child access to an education they could not otherwise receive at no cost to you.
The Alabama Accountability Act and Scholarships for Kids authorize donation-funded scholarships that enable low-income students to attend qualified private schools equipped to meet the needs of each individual learner. These scholarships are granted by specially created Scholarship Granting Organizations (SGOs) for the sole purpose of taking private donations and awarding them to low-income students in schools that have qualified to receive funds. Spring Valley School receives funding from Scholarships for Kids, a state-approved Scholarship Granting Organization under the Alabama Accountability Act of 2013.
Scholarships for Kids
Scholarships for Kids is a Birmingham-based Scholarship Granting Organization that works with Spring Valley School to make SVS a feasible option for any family seeking quality private education that meets the needs of their bright student with dyslexia, dyscalculia, and/or dysgraphia.
Individuals who contribute to Scholarships for Kids can redirect up to 100% of their Alabama state tax liability. The annual maximum tax credit available on an individual tax return is $100,000.
Corporate contributors can redirect up to 100% of their TOTAL tax liability. There is no maximum limit for the tax credit.
The Alabama Accountability Act currently establishes an annual $30 million statewide limit on the tax credits. The credits will be awarded on a first-come, first-served basis, and may be carried forward for 3 years.
To register your tax credit contribution:
1. Go to myalabamataxes.alabama.gov.
2. Click on "Report a Donation to an SGO".
3. Choose SCHOLARSHIPS FOR KIDS. Enter your donation amount.
4. Mail your check:
SCHOLARSHIPS FOR KIDS
P.O. BOX 10204
BIRMINGHAM, AL 35202
You will receive confirmation of donation from the Alabama Department of Revenue.
For more information about Scholarships for Kids, contact Stephen Bridgers at 205-246-5613.
IN ALL CASES, PLEASE CONSULT YOUR ACCOUNTANT OR TAX ADVISOR.