FAQ – Heritage Preparatory School
GEORGIA SCHOOL CHOICE SCHOLARSHIP FUND
Q.
What is the history of the Georgia Private School Tax Credit?
A.
In 2008 the Georgia General Assembly passed House Bill 1133 which set aside $50 million
annually to provide for the creation of student scholarship organizations (SSOs) that use Georgia income
tax credit eligible contributions to provide public school or kindergarten-entry students with the
opportunity to attend private schools.
Q.
Who can participate?
A.
Anyone (including parents, alumni, parents of alumni, grandparents and friends of Pace) who
has a Georgia tax liability can make a contribution to a SSO and designate it to the school of their choice.
Pace has partnered with Apogee Georgia School Choice Scholarship program.
Q.
How does the tax credit work?
A.
A Georgia taxpayer can re-direct up to $2,500 (filing jointly) or $1,000 (filing individually) of their
Georgia tax liability for that calendar year to Apogee and designate their donation to Heritage
Preparatory School.
Q.
Can corporations contribute to the tax credit program?
A.
Yes. "C" corporations can receive a tax credit for amounts contributed to the Apogee program
up to 75% of their Georgia income tax liability. "S" corporation shareholders (or the owners of such
other "pass-through entities") are subject to the individual limitations of $2,500 or $1,000.
Q.
What is the deadline for making contributions that qualify for the tax credit?
A.
All paperwork (go to Donation Forms) must be filed before December 31, 2011 in order for the
state to have time to approve the individual or corporation which can take up to 30 days.
Q.
Can I electronically file (efile) my tax return if I participate in this program?
A.
Yes. However, taxpayers must make documentation available later if requested by the
commissioner.
Q.
I am an AMT (Alternative Minimum Tax) filer. Does this program benefit me?
A.
Yes. AMT (Alternative Minimum Tax) filers may have greater benefit. Please consult your tax
advisor for more information.
Q.
If an individual has paid all of his/her estimated Georgia income taxes for 2011 and makes a
contribution to Apogee in that year, will he/she receive a Georgia income tax credit for the amount
contributed to Apogee?
A.
Yes. If after applying for the tax credit and applying all estimated tax payments and withheld
income taxes, there is an overpayment, the taxpayer can elect to have the balance carried forward for
up to 5 years.
Q.
If I itemize deductions, can I take a charitable income tax deduction on my federal income tax
return for the amount of the contribution to Apogee?
A.
Yes. However, taxpayers must add back to Georgia taxable income that part of any federal
charitable contribution deduction taken on a federal return for which Georgia Qualified Education
Expense Credit is allowed. Please consult your tax accountant for more information.
Q.
Can I designate that my contribution provide scholarships for a particular STUDENT coming to
Heritage?
A.
No. Although you may designate your contribution to Heritage, you may not direct it to a
particular individual. The financial aid committee at Heritage directs which qualified recipients are
recommended for the receipt of the Apogee scholarships.
Q.
What students are eligible under the law to receive financial assistance from Apogee
Scholarship Fund?
A.
Per the legislation, eligible students must be Georgia residents enrolled in a Georgia secondary
or primary public school.
Q.
Has the admissions criteria at Heritage changed to accommodate students under this
legislation?
A.
No. All applicants are required to complete our regular application for admissions. Acceptance
for admission is based on the current standards and criteria for admission to our school.
Q.
Will Apogee scholarships be awarded based on achievement in co-curricular areas such as arts
and athletics?
A.
No. Heritage does not give merit-based scholarships, only need-based.
Q.
After a recipient student's first Apogee scholarship year, will he or she automatically receive
Apogee funding each subsequent year that he or she is enrolled at Heritage?
A.
Apogee scholarships are awarded for the duration of a student's enrollment at Heritage.
However, the amount of the Apogee scholarship received in each year is determined annually based on
continued financial need and the student's compliance with behavioral and academic standards. The
financial assistance forms must be completed each year to validate financial need.
Q.
After Heritage awards Apogee scholarships in a particular year, what happens to any
remaining Apogee funds that have been designated for use at our school?
A.
Under the terms of our agreement with Apogee, any unused funds that have been designated
for use at our school are held in a designated account. These designated funds are available for
providing ongoing financial aid to existing qualified scholars at Heritage.
Q.
Does the Apogee scholarship program affect the current financial aid program at Heritage?
A.
Only in a positive way. Heritage will continue to budget the same amount for current students
and new applicants. The Georgia Private Tax Credit funds will augment the financial aid budget for new
students coming to Heritage.
Q.
By donating to the Apogee Scholarship Fund, does my gift count towards my Annual Giving or
other contributions at Heritage?
A.
No. While we certainly appreciate your support of this program, this contribution to Apogee,
designated to Heritage, is a dollar-for-dollar tax credit. Donations to the Annual Fund or Capital projects
are tax-deductible gifts given directly to Heritage.
Q.
Is Apogee Scholarship Fund a government agency? What is its role?
A.
No. Apogee is an independent 501 (c)(3) tax-exempt organization. Apogee, not the state of
Georgia, provides scholarships to students at its participating schools. It saves its participating schools
the expense of creating and operating their own student scholarship organization (SSO). Apogee
provides information and insights regarding the marketing aspects of the tuition tax credit legislation;
monitors legislation and regulatory developments and shares its best practices among participating
schools. For more information on Apogee, go to www.apogeescholarships.com.