Foundations — Grade 12 • Jackson, Mississippi
Giving
Children's Promise Act
As independent school giving is so important to fulfilling St. Andrew’s mission, we are always looking for ways to assist our kind donors in their investment in St. Andrew's.
In 2019, the state of Mississippi created a unique tax credit available to donors to Education Service Charitable Organizations (ESCO) which includes St. Andrew’s. The Mississippi income tax credit is available for business enterprises engaged in commercial, industrial, or professional activities operating as a corporation, limited liability company, partnership, or sole proprietorship in Mississippi. The amount of the tax credit that may be utilized by a donor in a taxable year is limited to a maximum of fifty percent (50%) of the total tax liability of the business enterprise for the taxes imposed for the taxable year. St. Andrew’s itself is also limited in receiving a maximum of $400,000 in total gifts through this program.
Due to the nature of the application process (first come, first served), funding from this program is usually exhausted almost immediately after midnight on the morning of January 1. As the state will accept applications via email beginning at midnight and time stamp them in order of receipt, we recommend that those who are interested in applying schedule their application email to be sent at that time.
For more specific information on the Children’s Promise Act, please visit Department of Revenue. Any funds directed to St. Andrew’s should list the receiving organization as “St. Andrew’s Episcopal Day School” and use the organization type “ESCO”.
If you are considering a new gift under this program to St. Andrew’s and you’d like to discuss this further, please contact Scott Crawford, CFO at crawfordsc@gosaints.org or Stephanie Garriga, Assistant Head of School for Advancement and Community Relations at garrigas@gosaints.org and/or your tax professional.
Foundations — Grade 12 • Jackson, Mississippi