Invest in Our Kids

Do you pay income taxes to the State of Illinois?

Then you have the ability to change a student’s future...while lowering your tax liability.

Many Marian Catholic alumni, parents, and friends do not see themselves as donors. They assume they are not in a position to give enough to make a meaningful impact. The fact is, that’s not true!

First of all, every dollar matters. Second, if you or your business pays income taxes to the State of Illinois, you have the ability to quadruple your gift while reducing and possibly eliminating your state income tax liability.

HOW DO YOU GIVE TO THIS IMPORTANT PROGRAM?

We ask that you follow the steps using the QR code below or on our website. Empower Illinois (empowerillinois.org) and the Big Shoulders Fund (bigshouldersfund.org) have helpful resources, including step-by-step guides and FAQs. We also recommend that you consult with your tax advisor, as gifts to this program are not tax deductible at the federal level.

The Invest in Kids Act, passed in 2017, allows individuals and businesses to receive a 75% state tax credit for scholarship donations.

The donations are made to scholarship granting organizations (SGOs), like Empower Illinois and the Big Shoulders Fund, and can be designated for middle- and low-income families at Marian Catholic.

This program has been transformational for other schools, driving enrollment and investment.

It could do the same for Marian Catholic. Currently, only 14 Marian Catholic students receive scholarships through this program, but over 200 qualified students are on the waitlist. More and more students from our Catholic grade schools are receiving this scholarship and are eligible to continue doing so in high school, provided we have the funding available.

HOW CAN YOU QUADRUPLE YOUR GIFT?

Let’s take for example an individual – we will call him John – with a $3,000 state income tax liability. Typically, John makes a $1,000 donation to Marian Catholic; but this year he decided to donate $4,000 to Marian Catholic through Empower Illinois or the Big Shoulders Fund. By doing so, John gets a $3,000 state tax credit ($4,000 x 75%). John is still out of pocket $1,000 but he has reduced his state income tax liability to $0 and increased his giving to $4,000.

WHO SHOULD PARTICIPATE IN THIS PROGRAM?

■ Individuals and businesses earning taxable income in the State of Illinois ■ Individuals who take the standard deduction on their federal income tax ■ Individuals and businesses who would benefit more from a 75% state tax credit than an additional deduction at the federal level (consult your tax advisor)

DECEMBER 31 IS JUST AROUND THE CORNER. MAKE YOUR DONATION NOW TO HAVE IT COUNT TOWARD YOUR 2022 TAXES!

Please contact your tax advisor or Colleen Peabody '05, Vice President of Advancement, at cpeabody@marianchs.com with questions.

75%

ILLINOIS STATE INCOME TAX CREDIT FOR SCHOLARSHIP DONATIONS

14

MARIAN CATHOLIC STUDENTS CURRENTLY RECEIVE SCHOLARSHIPS THROUGH THE PROGRAM

200+

QUALIFIED MARIAN CATHOLIC STUDENTS ARE ON THE WAITLIST

Marian CatholiC high SChool Advancement Office 700 Ashland Avenue Chicago Heights, IL 60411 708-755-7565

www.marianchs.com

ADDRESS SERVICE REQUESTED

Save the Date Save the Date

A Virtual Gala and Auction A GALA AND AUCTION BENEFITING To Benefit Marian Catholic Students MARIAN CATHOLIC’S SCHOLARS WITH A SOUL

Featuring the Recognition of Marian Catholic’s 2023 Hall of Fame Inductees

Sister M. Paul McCaughey, OP Leadership Center

~ February 21, 2021

FRIDAY, FEBRUARY 24, 2023

Help us go green! If you would like to receive Marian Matters via email instead of being mailed a paper copy, please call 708-756-9745. Contributing Writers Ariel Anderson '13 Kathy Guarino Julia Kapocius '16 Sr. Judine Hilbing, OP Sr. Judith Hilbing, OP Kevin Kelly '80 Allen Marazas '64

Editor, Marian Matters Cecily Fultz / cfultz@marianchs.com

Vice President for Advancement Colleen Peabody '05 / 708-996-4652 / cpeabody@marianchs.com