Your Taxes, Your Choice
The State of Georgia has created an opportunity for taxpayers to redirect a portion of their Georgia state income taxes to improve educational opportunities in Georgia. Woodward Academy is partnering with the Georgia GOAL Scholarship Program, a student scholarship organization established through House Bill 1133 in 2008.
Our partnership with Georgia GOAL allows you to redirect a portion of your Georgia tax liability to Woodward Academy.
Individuals may redirect up to $2,500 for married couples filing jointly, $1,250 for married filing separately and $1,000 for individual filers. Please note that redirecting your tax obligation is not considered a gift and is, therefore, not a replacement for participation in The Woodward Fund or Campaign Woodward.
Taxpayers who redirect their state income tax dollars to GOAL receive a tax credit for their designated amount and/or a charitable deduction for federal tax purposes, provided they itemize. For the first time, Georgia GOAL is allowing tax payers to submit forms for participation now, to be "in line" for approval by the Department of Revenue beginning January 1, 2014. GOAL will notify you once you have been approved in 2014. Once approved, you can make your payment by check or credit card. Due to this change, we expect the cap of $58 million designated for student scholarship organizations for 2014 will be met in March. You will not receive your tax benefit until you file your 2014 Georgia state taxes in 2015. Visit http://www.goalscholarship.org/ for more information.
C-Corporations may contribute up to 75 percent of their Georgia tax liability to Georgia GOAL on behalf of Woodward Academy. Please inform your contacts at Georgia corporations about this effortless way to support our school. If you have a suggestion of a company we should contact, please let us know.
Taxable Trusts may be eligible to participate in GOAL by redirecting up to 75 percent of their state income tax liability.
S-Corporations, LLC, and Partnerships may redirect up to $10,000 for a tax credit. For each of these entities, consider consulting your tax advisor for further guidance.
This program provides opportunities for more students to receive a Woodward Academy education. That’s why it is important that alumni, parents, grandparents, faculty, staff and friends of Woodward participate in this program.
For more information about the Georgia GOAL Scholarship Program, please visit www.goalscholarship.org/. Also, please refer to the Frequently Asked Questions page. If you have further questions, or would like to participate, please visit our How to Participate page, or contact Denise Farmer at 404.765.4011 or Lin Pahl at 404.765.4010.