Virginia Education Improvement Scholarships Tax Credit Program (EISTCP)

Q: When is the deadline for Virginia Education Improvement Scholarships Tax Credit Program (EISTCP)?

This grant has a rolling deadline or the deadline has not been announced.

THE COMMUNITY FOUNDATION OF HARRISONBURG

Foundation Annual Grants for K-12 Schools Foundation Grants

Funding Amount

Tax credit equal to 65% of donation; $500 minimum individual donation; $125,000 maximum for individuals/couples; no limit for businesses

Deadline

Rolling / Open

Grant Type

foundation

Overview

Virginia Education Improvement Scholarships Tax Credit Program (EISTCP) Overview

Program Type: Tax credit donation program for K-12 private school scholarships

Geographic Scope: Virginia (approved scholarship foundation through Virginia Department of Education)

Key Information:

Tax credit: 65% of donation amount

Individual minimum: $500

Individual/couple maximum: $125,000

Business minimum/maximum: No limits

TCFHR is an approved scholarship foundation authorized by Virginia Department of Education

Who Benefits

Qualified, low-income students attending non-public PK-12 schools in Virginia
Students must apply to their school for scholarship funds
TCFHR does not limit scholarships to one school
Donors may not designate funds for specific students

Eligible Schools (Current Qualified Institutions)

1. Blue Ridge Christian School - Harrisonburg 2. Bridgewater Community Christian Academy - Bridgewater 3. Charlottesville Cornerstone Christian School - Charlottesville 4. Eastern Mennonite School - Harrisonburg 5. Grace Christian School - Harrisonburg 6. Redeemer Classical School - Staunton 7. Wakefield Country Day School - Huntly 8. Keezletown (various)

Tax Credit Benefits

For Individuals:

State tax credits against Virginia personal income tax liability

Credits may be carried forward for up to 5 succeeding years

Credits cannot exceed tax liability in the year claimed

For Businesses:

Virginia Corporate Income Taxes

Virginia Bank Franchise Tax

Virginia Insurance Premiums License Tax

Virginia Public Service Corporations Tax

Personal Income Taxes via pass-through entities (S-Corps, LLCs, Partnerships)

Contact Information

Phone: 540-432-3863
Email: [email protected]
Address: P.O. Box 1068, Harrisonburg, VA 22803; 317 South Main Street, Harrisonburg, VA 22801
Website: tcfhr.org

How to Apply

How to Apply for Virginia Tax Credits

1. Contact TCFHR before applying
- Call 540-432-3863 or use the contact form at tcfhr.org
- Speak with staff to ensure compliance with state guidelines
- Work with your financial advisor if applicable

2. Request Preauthorization Form from TCFHR
- Staff will provide the form
- Also available through contact on website

3. Complete Preauthorization Form
- Fill out all required information
- Return via mail or email to TCFHR
- Email: [email protected]

4. TCFHR submits to Virginia Department of Education (VDOE)
- Submission via secure electronic system
- Processing time: typically within minutes

5. Receive Preauthorization Notice
- VDOE sends approval notice directly to you
- Indicates approved tax credit amount
- Credits held for 180 days
- IMPORTANT: Do NOT send check or transfer securities before receiving this notice

6. Send Gift to TCFHR
- Return Preauthorization Notice with Part I filled out and signed
- Include check or securities transfer information
- Submit within 180 days of Notice date
- IMPORTANT: Check must be dated after Notice date; securities transfers must be initiated after Notice date
- Make checks payable to: The Community Foundation of Harrisonburg & Rockingham County
- Do NOT indicate designation for specific school
- Funds divided among eligible students at qualified schools

7. Receive Tax Credit Certificate
- Within 20 days of receiving gift, receive acknowledgement letter
- TCFHR obtains Tax Credit Certificate
- Must attach certificate to tax return when claiming credits

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