There are many reasons why Georgia residents should know about GASSO (Georgia Student Scholarship Organization). GASSO is dedicated to the enhancement of the education received by all of Georgia’ Pre-K, Elementary, Middle and High School students through Student Scholarships provided for tuition at Georgia private schools. AlpharettaMoms.Org explores below why you should learn more about the GASSO program and how it can help private school become more affordable. Over 10,000 children have been assisted in GA through this program. Since 2008, $23 million in scholarships have been awarded.
Our youngest son, attended Alpharetta Christian Academy several years ago largely thanks to the GASSO program. Learn how your child can attend a private school under this program. If you would like to control how some of your Georgia State Income Tax is used, GASSO can help you direct some of your tax dollars to Private Schools for Scholarships. Georgia Student Scholarship Organziation Inc. (GASSO) is a 501(c)(3) non-profit charitable organization based in Cumming, GA and was initiated in 2008 by State Representative David Casis (GA legislatures 103 District).
GASSO facilitates tax credit contributions from GA taxpayers and distributes those funds to qualified applicants in the form of Student Scholarships. Every approved contribution to GASSO can be used as a 100% tax credit on a Georgia Income Tax Return. The total amount donated to GASSO can be used as a dollar for dollar credit towards any income tax due to the State of Georgia. The donor can take a charitable contribution deduction on their federal return and a tax credit on their state return. Credits are allocated on a first come-first served basis. On January 1st, 2015 the Georgia Department of Revenue made $58 million in Qualified Education Expense Tax Credits available for the 2015 calendar year. On January 1st, 2016, the Georgia Department of Revenue will make $58 million in Qualified Education Expense Tax Credits available for 2016 calendar year. Dont miss out on the opportunity to participate in the program and support private schools in your community!
Donors can designate a specific school to receive their scholarship donation. If students have friends and relatives who pay Georgia Income Tax, the relatives/friends can make a donation and specify the school to receive the scholarship. The relatives/friends receive dollar for dollar credit off their GA Income Tax as well and students benefit by receiving a scholarship which can substantially reduce or eliminate the cost for tuition to the private school.
**An individual can donate up to $1000. A married couple filing a separate return can donate up to $1250 each. A married couple filing a joint return can donate up to $2500.
**A corporation paying GA Income Tax can donate up to 75% of it’s GA tax liability.
** An eligible student means a student who is a GA resident enrolled in a GA secondary or primary public school or eligible to enroll in a qualified kindergarten program or pre-k program.
** Scholarships are awarded upon recommendation from the participating private schools based on merit, need, and/or other criteria. Scholarship application forms are available from the participating Private Schools.
** The law requires a SSO to manage the Donations between the Donor and the Private Schools. SSO’s are non-profit 501c3 charitable organizations and must obligate 90% of annual revenue for scholarships and tuition grants.
Important Links and Web Sites
Georgia Student Scholarship Organization (SSO), Inc. www.georgiasso.us
Georgia Department of Education http://doe.k12.ga/us/pea_policy.aspx?PageReq=PEAHB1133
Georgia Department of Revenue http://www.dor/ga/gov/
P.O. box 1752
Cumming, GA 30028
Bob Jasion, Director 770-331-2654
Original article 1/12/12. Updated 1/2013 and 10/16/2014, updated December 2015. This is not a sponsored article.