The Philanthropic Investment in Arkansas Kids Program

The Philanthropic Investment in Arkansas Kids Program allows nonprofit scholarship-granting organizations like ACE to raise scholarship money and help students statewide.

At least 90% of every gift goes directly to student scholarships, so contributors can feel confident their dollars are making a real difference for children, while also earning significant tax benefits!

Since starting in Arkansas in 2018, ACE Scholarships has awarded approximately 3,300 scholarships totaling over $8.1 million worth of investments in students throughout the state.

Overview

• Businesses and individuals with state income tax liability may contribute

• No annual contribution limits

• Provides dollar-for-dollar state income tax credit

• 90% of each donation is used to fund scholarships

• $6 million in total income tax credits is available per year

• Scholarships are capped at ~$5,600 in K-8 and ~$6,300 in high school

• 70+ ACE partner schools statewide

Student Eligibility

• Families with incomes below 200% of federal poverty guidelines (~$55,000 for a family of 4) are eligible.

• Additionally, students must be attending an Arkansas public school or starting school for the first time in the state to qualify.

How to Participate

• Speak to your CPA or tax advisor about your expected tax liability in 2023. (Remember that unused credits can be carried forward for up to three tax years!)

• Make a donation to ACE Scholarships Arkansas SGO after January 1, 2023.

• Fill out a PIAK Tax Credit Application form.

• We’ll keep you informed about next steps on your gift. Checks and pledge forms must be dated January 1, 2023, or later in order to qualify for next year’s credit.

• The state will begin processing 2023 tax credits on Monday, January 2, 2023.

• Once approved, you will receive further instructions and documentation from ACE on how to claim the credit amount on your tax returns.

Only $6 million in credits will be available in 2023.

Download our Arkansas state tax credit booklet below for more information.

The Kansas Tax Credit for Low-Income Students Scholarship Program

ACE Scholarships Kansas offers a 75% state tax credit for donations. Through this program, donors can reduce or eliminate their Kansas state tax liability.

In addition to the 75% state tax credit, taxpayers that itemize may also be eligible to claim a partial charitable contribution deduction on their federal income taxes.

Donations to ACE Scholarships are accepted anytime, and a non-refundable state income tax credit is earned when a donation is made. Any unused tax credits may be carried forward for future tax years.

A taxpayer can donate to ACE quarterly, monthly, or in one lump sum. A taxpayer may donate at whatever frequency they desire, so long as the full donation is made before December 31st in order to claim the tax credit for this tax year.

Since starting in Kansas in 2016, ACE Scholarships has awarded approximately 2,200 scholarships totaling nearly $5 million worth of investments in students throughout the state.

Overview

• Businesses and individuals with state income tax liability may contribute

• Annual contribution limit of $500,000 per donor

• $10 million in credits available per year

• Over 50 ACE partner schools statewide

• 90% of each donation is used to fund scholarships

Student Eligibility

• Students attending a Kansas public school or entering kindergarten are eligible. In order to receive new scholarships, students must be in grades K-8. Once awarded, students can keep their scholarships through high school.

• Additionally, the household income of the student's family must be 250% of federal poverty guidelines to qualify.

How to Participate

• Speak to your CPA or tax advisor about your expected tax liability for the year. (Remember that unused credits can be carried forward for future tax years!)

• Make a donation to ACE Scholarships Kansas.

• Fill out an ACE Scholarships pledge form.

• Your gift is eligible for a tax credit in 2023 until midnight on December 31, 2023. Checks dated January 1, 2024, or later will qualify for a 2024 tax credit.

• ACE will submit credit requests to the Kansas Department of Revenue for each donation. Once the donation is approved, a receipt for the approved credit amount will be issued to be filed with the donor’s tax returns.

Download our Kansas state tax credit booklet below for more information.

The Louisiana Tuition Donation Tax Credit Program

ACE Scholarships Louisiana offers a 95% state tax credit for donations. Through this program, donors can reduce or eliminate their Louisiana state tax liability.

ACE Scholarships processes your donation with the Louisiana Department of Education and secures your 95% state income tax credit.

In addition to the 95% state tax credit, taxpayers that itemize may also be eligible to claim a partial charitable contribution deduction on their federal income taxes.

Donations to ACE Scholarships are accepted anytime, and a non-refundable state income tax credit is earned when a donation is made. Any unused tax credits may be carried forward for up to three years.

Since starting in Louisiana in 2014, ACE Scholarships has awarded approximately 11,700 scholarships totaling nearly $50 million worth of investments in students throughout the state.

Overview

• Businesses and individuals with state income tax liability may contribute

• No annual contribution limits

• Only state in America with no limit on total credits available

• Almost 200 ACE partner schools statewide

• 95% of each donation is used to fund scholarships

Student Eligibility

• Families with incomes below 250% of federal poverty guidelines (~$69,000 for a family of 4) are eligible.

• Additionally, students must be attending a Louisiana public school or entering kindergarten to qualify.

How to Participate

• Speak to your CPA or tax advisor about your expected tax liability for the year. (Remember that unused credits can be carried forward for up to 3 tax years!)

• Make a donation to ACE Scholarships Louisiana.

• Fill out an ACE Scholarships pledge form.

• Your gift is eligible for a tax credit in 2023 until midnight on December 31, 2023. Checks dated January 1, 2024, or later will qualify for the 2024 tax credit.

• The Louisiana Department of Education will verify the amount of each donation paid out or reserved for scholarships, then issue a receipt for the approved credit amount to be filed with the donor’s tax returns.

Download our Louisiana state tax credit booklet below for more information.

The Tax Credits for Contributions to Student Scholarship Organizations Program

ACE Scholarships Montana offers a 100% state tax credit for donations. Through this program, donors can reduce or eliminate their Montana state tax liability by donating to ACE Scholarships.

ACE Scholarships processes your donation with the Montana Department of Education and secures your 100% state income tax credit.

If your tax estimation is more than what you owe, you can carry your tax credit balance forward for future years.

Since starting in Montana in 2012, ACE Scholarships has awarded approximately 8,300 scholarships totaling nearly $17 million worth of investments in students throughout the state.

Overview

• Businesses and individuals with state income tax liability may contribute

• Annual tax credit limit of $200,000 per donor

• $5 million in total income tax credits is available per year, with a 20% increase on the limit if the cap is met

• Almost 70 ACE partner schools statewide

• 90% of each donation is used to fund scholarships

How to Participate

• Speak to your CPA or tax advisor about your expected tax liability in 2024. (Remember that unused credits can be carried forward to future years!)

• Fill out an ACE Scholarships pledge form for the 2024 tax credit.

• Checks dated between January 1 and December 31, 2024, will qualify for a 2024 tax credit until the cap has been met.

• Once approved, you will receive further instructions and documentation from ACE on how to claim the credit amount on your tax returns.

$5 million in credits will be available in 2024. We expect those credits to go quickly!

Download our Montana state tax credit booklet below for more information.