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Virginia's Education Improvement Scholarship Tax Credit (EISTC) Program

It pays to invest in our students.

Virginia’s EISTC program offers donors 65% of their donation returned to them in Virginia tax credits.

An investment in the Virginia Education Scholarships Tax Credit Program provides financial assistance to deserving students while enjoying tax relief.

Don't miss this tax benefit opportunity, give today!

Virginia's Education Improvement Scholarship Tax Credit (EISTC) Program

What is EISTC?

  • The Virginia Education Improvement Scholarships Tax Credits (EISTC) Program allows individual and business donors to receive a 65% Virginia tax credit + state and federal deductions for 35% of their charitable contribution when they itemize their taxes. 

  • Donations to foundations approved by the Virginia Department of Education, like the McMahon Parater Scholarship Foundation (MPSF),  are distributed as scholarships for students from low-income families to attend accredited private schools.

  • Virginia budgets $25 million each year for this program, which continues until 2028.

How is this program different from a regular donation to Peninsula Catholic for scholarship assistance?

  • Donors receive Virginia tax credits for 65% of the full value of their gift.

  • Donors who itemize ALSO receive federal and Virginia tax deductions for 35% of their charitable contributions.

How do I get started?

What are the guidelines?

 

  • Donations must be made through a state-approved foundation, like the McMahon Parater Scholarship Foundation (MPSF). 

  • Donations made directly to Peninsula Catholic do not qualify for tax credits.

  • Donors may not direct their funds to support a specific student.

  • Donations are accepted via cash, credit card, or marketable securities.

Minimum donation for individuals: $500

Maximum annual donation for individuals and married couples: $125, 000

Maximum donation for businesses: None

Individual and business circumstances may vary. Please consult your tax professional.

 

What's a Tax Credit?

A tax credit allows you to subtract the amount of the credit from the total you owe the state in taxes- dollar for dollar