Saying “Thank You” to the Donors Who Make the Florida Tax Credit Scholarship Program a Success
Since 2002, the Florida Tax Credit (FTC) Scholarship Program has funded more than 784,000 scholarships thanks to approximately $3.9 billion in donations from the corporate community. This landmark achievement is responsible for strengthening school choice in the State of Florida while simultaneously making private education significantly more affordable for low-income families. Remarkably, the FTC Scholarship is only one of several scholarships offered by Step Up For Students, a state-approved nonprofit scholarship funding organization that helps administer scholarships for students in Florida; however, we will be focusing solely on the FTC Scholarship in this article — more specifically, the amazing donors that make this program such a resounding success year in and year out.
When the Florida Legislature established the FTC Scholarship Program in 2001, it signaled a new era of school choice for parents looking to provide their children with the best education possible. According to Step Up For Students, “the Florida Department of Revenue gives dollar-for-dollar tax credits to companies that contribute their eligible tax dollars to fund the K-12, income-based education scholarships.” This provides a significant incentive for donors to continue contributing to Florida’s economically disadvantaged children on an annual basis, as indicated by year-over-year growth in the number of scholarships provided. The FTC Scholarship Program is the largest of those offered by Step Up For Students in Clearwater, FL. Recipients of the FTC Scholarship have two financing options:
- Financial assistance for private school tuition and fees.
- Financial assistance for transportation costs required to attend public school in a different district.
Applications are processed on a first-come, first-served basis; however, priority is given to renewal families, followed by families with the greatest financial need. Acknowledging that the homestead may be required to relocate for any number of reasons, the FTC Scholarship is transferable to any eligible school in the Sunshine State.
Without the gracious corporate sponsors that support the FTC Scholarship Program, none of this would be possible. Dollar-for-dollar credits are offered for numerous financial liabilities, including:
- Alcoholic Beverage Excise Tax
- Business Rent / Commercial Lease Sales Tax
- Corporate Income Tax
- Direct Pay Sales & Use Tax
- Insurance Premium Tax
- Oil and/or Gas Severance Tax
Those who have chosen to involve their businesses have made life-changing contributions to countless children while furthering the ultimate goal of Step Up For Students: choice of learning environment for the betterment of every child’s education. As one of the Step Up For Students participating schools in Clearwater, FL, Lakeside Christian School would like to give a heartfelt thanks to all of those who have contributed to this program. Your generosity has aided our mission to provide top-flight education services for children who wouldn’t otherwise have access to a private education.
If you would like to learn more about Lakeside Christian School, one of the Step Up For Students participating schools in Clearwater, FL, please give us a call at (727) 239-7808 or schedule a tour of our campus.