Dear Family and Friends of Memorial Day School

During the summer of 2008, the Georgia legislature passed House Bill 1133, thereby establishing a new law which provides exciting possibilities for Memorial Day School and our families.  This new law, The Georgia Private School Tax Credit, makes all taxpayers eligible to receive a dollar-for-dollar state tax credit in exchange for their contribution to a state approved Student Scholarship Organization, or SSO.  Essentially, all taxpayers are now able to divert all or some of their state income tax payment to scholarships at Memorial Day School.  In addition to a state tax credit, your contribution may be utilized as a charitable donation deduction on your federal tax return.

After much research, our school has elected to partner with the Apogee Georgia School Choice Scholarship Fund, an independent 501(c)(3) tax-exempt Student Scholarship Organization, one of only ten throughout the state, to administer the program on Memorial Day’s behalf.  Currently, maximum contributions are $2,500 for a married couple filing jointly and $1,000 for individuals.  “C” corporations are eligible to contribute up to 75% of their corporate tax liability and receive that amount as a dollar-for-dollar credit on their taxes.

The state has placed a cap on these contributions at $50 million during the 2009 tax year, so we are eager for our constituents to understand the program and the benefits it provides to the Memorial Day School community. The $50 million cap additionally necessitates acting quickly to ensure that the School’s potential scholarship monies are not limited due to a lack of funds from the state.  We encourage and appreciate your participation, and thank you in advance for assisting us in making it the success that we are confident it will be.  This program applies to any individual paying Georgia state taxes, regardless of school affiliation, so your help is also appreciated in communicating this information to others who might be interested in diverting some of their tax payments to Memorial Day School.

Again, we thank you for your consideration of this program and for helping us in this exciting effort.  Attached, you will find answers to frequently asked questions about the Georgia Private School Tax Credit as well as step by step instructions on the process.  If you have additional questions, please do not hesitate to contact Memorial Day School  Director of Development Mark Sussman at msussman@memday.org ; or our representative at Apogee, John Panessa, at jpanessa@apogee360.com

Thank you for your continued support of and commitment to Memorial Day School.

MARK A. SUSSMAN
Director of Development