Menu
The Alabama Accountability Act and Scholarships for Kids authorize donation-funded scholarships that enable low-income students to attend qualified private schools. These scholarships are granted by specially created Scholarship Granting Organizations (SGOs) for the sole purpose of taking private donations and awarding them to low-income students in schools that have qualified to receive funds. Southern Prep receives funding from Scholarships for Kids, a state-approved Scholarship Granting Organization under the Alabama Accountability Act of 2013.
The Alabama Accountability Act currently establishes an annual $40 million statewide limit on the tax credits. The credits are awarded on a first-come, first-served basis, and may be carried forward for 3 years.
who donate to Scholarships for Kids may receive a dollar-for-dollar credit of up to 100% of their state tax liability, not to exceed $100,000.
may receive a dollar-for-dollar credit of up to 100% of their state tax liability, and there is no maximum.
can donate up to 100% of their Alabama income tax liability to Scholarships for Kids and potentially receive a federal benefit as well.
IN ALL CASES, PLEASE CONSULT YOUR ACCOUNTANT OR TAX ADVISOR.
IF YOU HAVE QUESTIONS OR NEED ASSISTANCE,
PLEASE CONTACT KIMBERLY WICKER VIA EMAIL OR 256-400-1551.
Scholarships for Kids, a Birmingham-based Scholarship Granting Organization, partners with Southern Preparatory Academy to make quality private education in a nurturing environment accessible to families.
