Contributions Given to SGO Benefit Both You and St. John’s
As you file your taxes this spring, keep in mind that the SGO* Tax Credit Program for the State of Indiana can help reduce your tax liability while you support our school’s ministry! (*SGO = Scholarship Granting Organization) Currently less than $2 million in tax credits remain for this fiscal year (as of April 7 exactly $1,882,849).
Each year about a dozen or so donors from St. John’s take advantage of this credit which provides a 50% tax CREDIT towards your Indiana state tax liability. It usually means a larger REFUND from the State of Indiana.
Here’s how it works:
- A donor makes a gift to the St. John’s Scholarship Fund at the Lutheran SGO of Indiana (lutheransgo.org)
- The Lutheran SGO of Indiana provides a gift receipt AND certifies your credit for 50% of the amount of the gift.
- Your gift is placed in our SGO Scholarship Fund and SJLS makes scholarship awards to eligible students beginning in August, 2025.
- When you file your Indiana State Taxes sometime after January 2026, you claim the 50% credit that is applied toward any tax liability and (assuming you have now overpaid) you get a refund!
However, the State Legislature LIMITS the amount of credits available, and this fiscal year they may run out! So be sure to make your gift TODAY!
By the way: Gifts from your Individual Retirement Account (IRA) can be made IN PLACE of your Required Minimum Distribution (RMD) through what is called a Qualified Charitable Distribution (QCD). So be sure to have your financial adviser get more information before just sending you a check for this year’s RMD.
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