Please consult a tax professional about your individual tax situation!
Q: Is there a limit to how much I can give and still receive the credit?
No, there is no limit on your donations as long as there are tax credits available (see section above for link to check remaining credits). The credit is applied to your Indiana state tax liability. If the amount of your credit exceeds your tax liability, the unused credit may be carried forward for up to nine years, but it may not be carried back or refunded.
Q: Can I designate a school or student to receive my gift?
Yes, and no. You may designate one of our participating schools to receive your gift. However, SGO donations may not designate a particular student; this would be considered a tuition payment and is not eligible for a tax credit.
Q: What if I don't have a particular school in mind?
We recommend that you browse our list of participating schools, or talk to us if you have an interest in schools that align with your interest area (geographic area, special needs, urban/rural, classical, faith-based, etc.). We also welcome donations to our general fund, which is used for scholarships to support students attending all of our partner schools.
Q: How do I claim my credit?
The receipt letter that you receive from Sagamore Institute will include the amount of the donation, the tax credit certification number, and instructions for claiming the credit. We also send out year-end letters in January that summarize your donation and include detailed directions.
Q: Is this gift eligible for a federal deduction?
Yes, if you itemize. Pending IRS rules change the amount eligible for federal tax deduction to 50% of the value of the SGO gift for all SGO gifts made after August 27, 2018. Under the pending rules, gifts made on or before August 27, 2018 are eligible for 100% federal tax deduction. All gifts, no matter the date, receive a 50% Indiana state tax credit, so long as credits remain. See the "Understanding the Tax Benefits" page for more information.
Q: Can I make a recurring donation?
Yes. The first option is to set up a recurring donation using your bank's automatic bill pay service. Checks should be made payable to Sagamore Institute SGO with the name of the school in the check's memo line. Please complete a donor form to let us know that a recurring gift has been established (future gifts will not need a form.) The second option is to set up a recurring donation through our online giving platform, using either a credit card, debit card or a transfer from your checking account (echeck). Either way, we will issue a receipt letter for each donation.