Another Opportunity to Advance Your Giving - AAA
Several years ago, the state of Alabama established an opportunity to provide families a choice for their children to opt-out of attending underproducing schools in their areas. The Alabama Accountability Act (AAA) has benefited thousands of students around the state and allowed them opportunities to succeed academically. As we approach the end of the 3rd quarter and 9/15 estimated tax deadline, there are still plenty of dollars in the AAA yet to be claimed if you have not already done so. This gives you the opportunity to swap your state tax liability on a dollar for dollar basis with scholarship funds for kids in poverty and/or failing schools which gives them a hope and a future. The IRS has passed final guidelines, which not only provides for that state tax credit, but also for a federal tax deduction of an ordinary business expense for C corps and “pass-through entities” that benefits the donor. The guidelines differ somewhat for C corps and “pass-through entities” so please check with your tax professional. Individuals and “pass-through entities” can donate up to 50% of their state tax liability up to $50,000 and C corps can donate up to 50% of their state tax liability with no dollar limit. Check out the wonderful video link below to see the personal impact of your AAA contribution.
AAA has contributed to allowing Restoration Academy (RA) to have an impact on more children since the law was first passed. RA has grown from 225 students to over 375 in just 6 years! In fact, last year we moved into an 11,000 square foot expansion housing additional classrooms, fine arts space, and office space for our growing school; we now have the capacity for over 500 students! As RA continues to grow, the world-class education provided keeps pace to the extent that now for 14 years in a row 100% of our seniors have been accepted to college.
If you have any questions about how to give, please watch the video found at this link (www.restorationacademy.org/aaa), contact your accountant, or let me know. The link provides a simple, step-by-step guide to making your donation. Please forward and/or repost this to others who may be interested in the great work we are doing at Restoration Academy through the AAA. Thank you for your consideration.