Our Parish. Our Families. You.
The Parish-SGO program is a powerful and strategic way to support Catholic education in Greater Lafayette. When you give to the Scholarship Granting Organization (SGO), you are directly helping local parishioners receive a high-quality Catholic education.
A win for everyone!
- Provide scholarships for parishioners to attend our Catholic schools.
- Receive a 50% Indiana state tax credit, along with a federal tax deduction.
- Contribution recognized by the parish towards your annual parish support.
What is an SGO and what does it do?
A Scholarship Granting Organization (SGO) is an Indiana state-certified 501(c)(3) non-profit formed to provide financial assistance to students who are enrolled in a tuition-based, accredited school. SGOs are funded by private donations from individuals and corporations who receive a 50% Indiana state tax credit for their contributions to the program. To receive funding, students must meet state mandated requirements of eligibility and household income.
How does an SGO gift help my parish?
The parish community plays an integral part in the formation of students through the ministry of Catholic education. The SGO campaign is a strategic way for parishioners to support this growing ministry. Every dollar raised through the program goes directly to support parish families. In partnership with LCSS, your support directly impacts a family and counts towards your annual giving to the parish.
How does an SGO gift help parish families?
The rate to educate a child in the parish ranges from $8,500 for grades K-6 to $12,294 for grades 9-12 per child. A family with three kids in grades 12, 7 and 3 could still have a balance of more than $11,000 to attend Catholic schools. Parish families rely directly on the support from the SGO to offset some of that cost to make their Catholic education accessible. Last year, families from the six local parishes were awarded over $455,000 in SGOs.
What are the tax benefits to making a gift to an SGO?
Supporters who contribute to an SGO qualify for a 50% Indiana state tax credit and a federal tax deduction. The following chart illustrates (at a 32% federal income tax bracket) the after-tax “cost” of the donation.
| Donation Amount | IN Tax Credit | Net Federal Deduction (1) | Federal Tax Savings 32% | Total Tax Savings | After Tax Cost (2) |
| 500.00 | 250.00 | 250.00 | 80.00 | 330.00 | 170.00 |
| 1,000.00 | 500.00 | 500.00 | 160.00 | 660.00 | 340.00 |
| 2,500.00 | 1,250.00 | 1,250.00 | 400.00 | 1,650.00 | 850.00 |
| 5,000.00 | 2,500.00 | 2,500.00 | 800.00 | 3,300.00 | 1,700.00 |
| 10,000.00 | 5,000.00 | 5,000.00 | 1,600.00 | 6,600.00 | 3,400.00 |
| 25,000.00 | 12,500.00 | 12,500.00 | 4,000.00 | 16,500.00 | 8,500.00 |
This chart is for illustration purposes only. Please consult your tax advisor.
(1) The net federal deduction is equal to the contribution less the state tax credit as state taxes are deductible for federal income tax purposes. (2) Actual after cost will vary based on your respective income tax status.
Can I make gifts of Stock and Securities?
Yes! In fact you can save capital gains taxes by donating appreciated stock. IQE provides you with the opportunity to donate stock or securities online or via paper. To submit online, you can visit www.i4qed.org/donate and click “stocks/securities”. To submit through the mail, you should complete the enclosed donation form and mail it to IQE directly. IQE staff will contact your broker to complete the donation. An email or letter will be generated and sent to you with your TCCN listed for tax purposes.
Can I make gifts from my IRA Required Minimum Distributions (RMD)?
Yes, this is an excellent opportunity to reduce your taxable income if you are 70-½ or older. You can instruct your IRA custodian to transfer funds directly from your account to the Institute for Quality Education. We recommend your custodian cutting a check payable to Institute for Quality Education that goes directly to you first and then mailing the check with the SGO Donor Form.