Do you pay state income tax in Georgia?

Peace Prep is excited to partner with Arete Scholars, a student scholarship organization, that allows you to turn taxes into direct support for our mission when you redirect a portion to Peace Prep students in exchange for a 100% tax credit!

Our portal is now open for 2025 Tax Credit Applications. We can accept applications for 2025 through December 15th of 2024.

*Be sure to use Peace Prep’s specialized link through Arete Scholars to make your pledge and gift.

Common Questions:

WHAT IS THE GEORGIA TAX CREDIT SCHOLARSHIP PROGRAM?

Under a Georgia law passed in 2008, the program allows individual and corporate donors to receive a dollar-for-dollar tax credit for approved contributions to Arete Scholars and Peace Prep. In turn, Peace provides need-based scholarships.

WHO IS ELIGIBLE TO DONATE?

Any corporation or individual that pays Georgia income tax is eligible to participate. C-corporations and S-corps, LLCs, Partnerships that file with their business EIN can contribute up to 75% of GA income tax liability. S-corporations, LLCs, Partnerships that file with SSN may donate up to $25,000. Insurance companies may donate 75% of their Georgia insurance premium tax liability or $1 million, whichever is less. Married joint filers may donate $5,000 per year and individual filers up to $2,500.

HOW DOES THE DONATION PROCESS WORK?

Complete the simple online request form by December 15th, 2024. Your tax credit will be submitted for approval from the Georgia Department of Revenue during January 2025. Donations must be made within 60 days of approval (likely Mid-March 2025), and Arete issues receipts for your tax filing. Taxpayers should always consult with an accountant for tax guidelines and implications.

HOW DOES MY GIFT BENEFIT PEACE PREP DIRECTLY?

Supporters may designate their Arete donation for the exclusive use of Peace Prep by using the link below – the administration at Peace determines scholarship recipients and award amounts. These funds are essential for the financial health of the school.

HOW DOES A TAX CREDIT DIFFER FROM A DEDUCTION?

A tax credit is significantly more beneficial than a deduction. This credit reduces your Georgia taxes dollar-for-dollar, while a deduction reduces the taxable income upon which taxes are calculated.

ARE THERE ANY DOWNSIDES TO GETTING INVOLVED?

It is hard to see any. It is a budget-neutral transaction that can radically alter the lives of children at Peace Prep. Through this relatively simple step, corporations and individuals make a lasting, tangible difference in the lives of families, help break generational cycles of poverty, and give Peace Prep students a holistic educational experience.

*Be sure to use Peace Prep’s specialized link through Arete Scholars to make your pledge and gift.

Additional Questions?

Reach out to our development team or take a look at our full FAQ document here.

The Arete Scholars tax credit program is a HUGE benefit to Peace Prep and our students. However, it is not considered a donation, but a redirecting of tax dollars you already owe the state. We still rely on your generous donations to support WHOLE CHILDREN, WHOLE FAMILIES, AND WHOLE COMMUNITIES.

For other ways to support, click here.