THE SCHOLARSHIP GRANTING ORGANIZATION
An Exciting W
A
s Catholics, we are blessed to be part of the Church established by Jesus Christ to serve all of God’s people. In fact, the word “Catholic” comes from the Latin for “universal.” With this in mind, we are asked to open wide the doors of our churches and parish schools, making both accessible to all individuals and families. The Scholarship Granting Organization (SGO), facilitated by Indiana’s Institute for Quality Education, is one program that allows us to assist families who are seeking a Catholic education for their children. Contributions made to this SGO benefit the St. Benedict Cathedral School and students while providing a valuable tax deduction to donors — and that’s what we like to call a “win-win”! St. Benedict Cathedral Finance Council Chair, Steve Titzer, sees the SGO as a blessing for absolutely everyone involved. “The thing that is great about it is that it’s a win for everybody,” Steve says. “It’s a win for the families that can send their kids to St. Benedict that might not otherwise afford it, it’s a win for school enrollment, and then a win for the contributors to the SGO because of the tax benefit. And that benefit is huge.” As Steve explains, recent changes to the way federal tax deductions are determined have not affected the state tax benefits of contributing to our parish school through the SGO. Individuals who donate to the SGO receive a tax credit equal to 50 percent of the amount donated. Some businesses and individuals may also qualify for additional federal tax credits. The cathedral is grateful for all of the direct contributions made to the parish and school, which do not incur any other costs. In cases where parishioners are hoping to stretch their donation amount or make an additional contribution, the SGO offers a wonderful opportunity to do so. After a seven-percent administrative fee for the SGO, all money contributed to St. Benedict Cathedral School goes directly into scholarships for our students. “Families that are at a certain income level 4
Students from our cathedral school attend First Holy Communion practice.
that is above qualifying for the voucher system can apply, and we can award a certain number of scholarships that are funded through the SGO,” Steve says. “The state tax benefit to donors is unlimited. You can give as much as you want and then get that 50-percent tax credit. If you give $10,000, you get a $5,000 tax credit. If you also itemize for federal purposes, you can take a charitable deduction for $5,000. So it would cost $3,500 to give $10,000 to the school through the SGO. There’s a big difference there.” Of course, direct donations to the parish will always be needed. The cathedral school is subsidized by the parish budget. For those who love St. Benedict and value our school, the SGO provides an excellent opportunity for giving something in addition to their tithe while
