Community Investment Tax Credit Program (CITC)
We have been recently awarded an additional $25,000 in Community Investment Tax Credits (CITCs) for 2018. Please contact Jennifer Summers at 410-783-9279 for more information and availability.
St. Ignatius Loyola Academy has been awarded Community Investment Tax Credits (CITCs) from the State of Maryland. This means that, as a donor, you are eligible to receive 50% of your donation back through a Maryland state tax credit. You will also receive the standard federal and state tax deduction for the donation.
These tax credits will be given to donors on a first-come, first-served basis until the entirety of the $25,000 has been distributed. You will be contacted immediately if we are no longer able to offer tax credits when we receive your donation.
When you give your gift, please be sure to indicate your participation in the CITC program in the memo of your check or in an accompanying letter. If you are using our online donation form, please select the designation Graduate Support Program: Tax Credits.
We encourage you to consult your tax adviser for your individual Federal and Maryland tax deduction rates. Please contact Jennifer Summers, Chief Advancement Officer, at 410-783-9279 with additional questions or to be sure that these tax credits are still available.
Here's how it works:
Your donation must be a new gift of $500 or more
Your donation must be designated to support the Academy's Graduate Support Program; gifts to the Academy Fund or student sponsorship are not eligible
You must complete a CITC donation form required by the State of Maryland (we will send this form to you to fill out and return after we receive your donation)
Examples of Qualifying Donations:
You may also learn more about the CITC program by visiting the Maryland Department of Housing and Community Development website.