IL Tax Credit Scholarship Program
Reduce Your Illinois Income Taxes and Help Fenwick Students!
“Pay” your Illinois income taxes in 2020 by taking advantage of the Illinois Tax Credit Scholarship program:
- Make a contribution to a scholarship granting organization (SGO) like Big Shoulders Fund or Empower Illinois.
- Direct your contribution to Fenwick
- Get a 75% state income tax credit (not a deduction, a credit!) for the amount of your donation
Fenwick families are not immune to the economic ravages of the coronavirus pandemic. Tuition assistance requests have increased and are likely to stay elevated for some time. Because of donors like you, 62 Fenwick students were able to secure scholarships through this state program in the ’19-’20 school year and we are still working on increasing the number of grants for the '20-21 school year.
The stock market has come roaring back! Take advantage of double tax savings by contributing long-term appreciated stock to an SGO (thus avoiding capital gains tax), direct your gift to Fenwick, and receive a state income tax credit of 75% of the amount of your gift! If you don’t use all of your tax credits in 2020, you can roll them forward for up to five years!
Any contribution made through an SGO on or before December 31 qualifies for a 2020 IL state income tax credit.
“It might be a little intimidating at first, or you might ask yourself, ‘Is it really worth it?’ Believe me, it is! Pay your Illinois income taxes and feel good about it by helping a deserving Fenwick student. That’s a win-win!”
-Tim Culhane ‘85
For more information about the Illinois Tax Credit Scholarship program, please see either of the above SGO websites or contact Chris Ritten, V.P. of Institutional Advancement, at Fenwick: 708-948-0350, email@example.com.
Fenwick High School does not provide tax or legal advice. Please consult your tax/legal advisor before making any contribution through the IL tax credit scholarship program.