Already reserved your tax credit through MyTax Illinois? Click HERE to make your contribution online, or mail with your Contribution Authorization Certification to Big Shoulders Fund (212 W. Van Buren St., Suite 900, Chicago, IL, 60607).
The new Illinois Tax Credit Scholarship Program provides donors a unique opportunity to contribute to scholarships that help lower-income families send their children to private schools — while reducing their own tax bill on dollars otherwise owed to the state.
The program enables individuals and corporations to reserve Illinois income tax credits based on contributions made to Scholarship Granting Organizations, or SGOs. The organizations then provide scholarships for eligible students to attend nonpublic schools, with priority given to low-income students. Taxpayers may apply 75 percent of the total contributed as a tax credit against their Illinois income tax bill. For example, a taxpayer making a $1,000 qualified contribution would be awarded a $750 tax credit. The credits are capped at $1 million per taxpayer per year.
Big Shoulders Fund has been approved by the Illinois Department of Revenue to participate as an SGO for this new tax credit program.
For more information about how to reserve your tax credit and contribute to the Big Shoulders Fund SGO, please review the following documents or contact us at email@example.com or 312.751.8337.