Invest in Kids- Scholarship Granting Opportunity

Invest in Kids

What is this program?

The Invest in Kids Act is a Tax Credit Scholarship Program that allows donors an Illinois state income
credit of 75% on 2018 taxes. This allows students from low-income families to receive scholarships to private education institutions.

How many credits are available and to whom?

Illinois is allowing $100 million of scholarships which equates to $75 million of tax credits. These credits
are available to individual and corporate donors. There is a maximum creditable donation of $1 million
for either type of entity which is $750,000 in tax credits max per individual or corporation. Individual
Donors can designate a specific school such as Chicago Hope Academy. Corporations cannot and must
donate to general funds.

How do I apply for the credits?

The applications for the credits do not open until January 2 nd , 2018. The first step in the process is to
register an account on MyIllinois Tax to prepare for the opening of applications. The steps to register
are as follows:
Illinois Letter ID Steps

 MyTax Illinois

Registering immediately is critical because it can take up to 10 business days to receive the Illinois Letter ID Once an account is created on MyIllinois Tax, potential donors can apply to receive tax credits
through specific SGO’s.

What are SGO’s?

SGO’s are Scholarship Grant Organizations which function to receive donations and grant scholarships to
students. SGO’s, just like donors, apply to be the carriers of scholarships. 95% of Illinois tax credit
donation funds must be given to tuition scholarships. The deadline for potential SGOs to apply is
December 20.

Which SGO will Hope be working with?

Chicago Hope Academy is still determining which SGO they will recommend to Donors and Families of
Hope. We will communicate our decision as soon as possible.

How do students benefit?

Each student in Illinois is awarded a maximum of $12,800 in annual tuition. It can last throughout their
scholastic career if academic and behavioral standards are met. The application date for families will be
sometime in January, we are not sure if early or mid, but believe no later than the 21 st .

How do students apply?

To apply, families must produce the proper documentation including:

 Copy of 2016 federal tax return
 Proof of Illinois residency (utility bill, driver’s license)
 Documentation of student’s age (passport, federal/state ID, Birth Certificate)
 Prior semester report card
 If available letter of acceptance at an eligible, participating, non-public school.

Letter ID Instructions

Illinois Letter ID Steps

Donor Instructions

 MyTax Illinois steps