Over the past several years, we have asked for your support of Our Lady of Grace's efforts to provide up-to-date technology solutions to all students. Thanks to your generosity, we have almost been able to implement a school-wide one to one Chromebook program, provide updated teacher laptops, and offer improved Internet service, among many other things. These investments in technology have proven to be invaluable during these extraordinary pandemic times by allowing Grace to offer robust in-person and virtual instruction and educational opportunities.
This year, we are asking for your help in ensuring anyone who wishes to receive a Catholic education at Our Lady of Grace is able to do so regardless of financial resources. Our families need financial aid more than ever this year. We have heard from many parents who have lost a job due to the pandemic but want to continue to send their son or daughter to Grace because they realize the importance of a Catholic education. 46% of Grace families applied for tuition assistance with an estimated need of $200,000. Your help is needed so that we can achieve our goal to meet 100% of the demonstrated financial need of our families.
To support Grace’s goal of providing additional financial aid, please use the form below to make an online donation. Also provided on this page is information about special 2020 federal charitable giving tax incentives and the IL “Invest in Kids” state tax incentives.
Grace’s mission of "enter to learn, exit to serve" is only possible with the generosity of others.
Federal Tax Incentives
*NEW* 2020 CASH DONATION INCENTIVES:
- A reduction in taxable income of $300 per taxpayer or $600 for a married couple filing jointly is available to donors who do not itemize their deductions for cash gifts in 2020.
- A 100% percent Adjusted Gross Income (AGI) limit is available in 2020 for cash gifts to charities by those who itemize.
NON-CASH DONATION INCENTIVES:
- Individuals age 70 ½ and older can make a tax-free donation distribution from your IRA.
- Our Lady of Grace accepts donations of stock. Donating appreciated stock provides an itemized deduction and can avoid capital gains tax.
State of Illinois Tax Incentives -
LOWER YOUR 2020 IL STATE TAX BILL
The Invest in Kids act provides Illinois state income tax credits to individuals and corporations who donate to Empower Illinois. Empower Illinois is an independent 501(c)(3) nonprofit organization that will award scholarships to eligible Our Lady of Grace students from low and middle income families. Individuals and corporations will receive a tax credit for their Illinois state taxes equal to 75% of the donation to Empower Illinois.
INVEST IN KIDS IN THREE EASY STEPS:
Applicants are required to have a MyTax Illinois account. Visit empowerillinois.org for step-by- step instructions for creating an account and applying for the tax credit.
2. DONATE TO EMPOWER ILLINOIS (SGO) WITHIN 60 DAYS
Our Lady of Grace has partnered with Empower Illinois as its SGO. Once the application is approved, donate to Empower Illinois within 60 days.
3. DESIGNATE THE DONATION TO OUR LADY OF GRACE
During the donation process, donors have the option to specifically designate Our Lady of Grace.
For specific questions, please contact the school office at (309) 755-9771 or your tax professional.
Your help is needed so that in 2021 we can achieve our goal of meeting 100% of the demonstrated financial need by our families.