The Illinois Tax Credit Scholarship Program allows you and your company to target donations to scholarships for CRSM students from low income families. For your generous donation, you would receive a 75% direct credit – not a deduction – on your Illinois taxes. For example, a $1,000 donation would save you $750 in taxes while, at the same time, quadrupling the impact for CRSM and our families for the same out-of-pocket cost.
For the upcoming 2020-21 school year, 100% of CRSM families will qualify for the maximum Illinois Tax Credit Scholarship and are waiting to learn if there will be enough targeted donations. In the current school year, 91 CRSM families received tuition relief through this program, and 176 qualified families did not, because there were not enough targeted donations.
Preston Kendall, CRSM president, talked about the impact of using this program;
“In many low-income communities, families who want a faith-based, rigorous educational option like Cristo Rey St. Martin for their children are shut-out due to unaffordable tuition. The Illinois Tax Credit Scholarship Program gives these students a chance.”
Kendall added, “It evens the playing field, regardless of the economic circumstances. The program’s success is completely dependent upon generous donors making the effort to designate funds.”