Kansas Tax Credit for Low Income Students Scholarship Program (TCLISS): Contributors
Contributor Benefits
- Obtain a charitable giving receipt.
- Receive 65% of the gift value of your approved donation as a State Tax Credit.
- For those that choose to itemize, you may earn additional tax benefits as a charitable donation from the proceeds donated (Federal & State).
- If you pay taxes and itemize, you may reduce your tax liability by 75-95%.*
- Tax credits may be claimed in the same year donated or carried over to the next 5 succeeding taxable years.
- Benefits apply to both individuals and businesses.
- Monetary and marketable security donations accepted.
- Direct your tax dollars to help children receive a quality Christian education.
- Help to improve a community through the values-based culture the education you sponsor will provide.
*RenewaNation is not a certified tax service organization. Reduced tax liability needs to be determined by donor’s tax preparer.
Contributor Eligibility
Who Qualifies to Give?
- Individuals must give a minimum of $500 but may donate as much as $125,000 per year.
- There are no limits for businesses, including sole proprietors.
The Process
- Individuals and businesses seeking to make a donation to an approved scholarship foundation must must first apply for pre-authorization for a specified tax credit amount under the Tax Credit for Low Income Students Scholarship Program. To obtain the digital pre-authorization form, please contact Curtis at curtis@renewanation.org. NOTE: The RENEWANATION office can help you with this entire process if you like. Just contact 540-814-3382.
- As there is a state mandated annual cap of $25 million in credits, tax credits are preauthorized to donors on a first come, first served basis.
- An Approval Letter issued to the donor must accompany the donation from the donor to the RenewaNation Kansas Scholarship Foundation (RKSF).
- The RKSF will promptly electronically return the approval certifying the donor, the amount of the donation, and the date it was received from the donor.
- Once the donation is received and reported by the RVSF, a tax credit certificate will be issued to the individual or business donor to be utilized when filing annual taxes.
- Approval Letters not acted upon by the donor within 180 calendar days of issuance will expire and become void.
Further Questions?
See our Kansas FAQs. If you still have questions, feel free to email us at info@renewscholarships.org or call us at 540-814-3382.
Make a Kansas TCLISS Tax Credit Contribution
Please feel free to contact us to begin the contribution process!
