Thanks to the new Education Choice for Children Act (ECCA) passed by the federal government, taxpayers across the United States will soon be able to redirect up to $1,700 of their federal taxes to the Crown Heights Scholarship Fund.
Instead of sending that portion to the IRS, you will contribute it to a registered Scholarship Granting Organization (SGO), in this case the newly founded Crown Heights Scholarship Fund, endorsed by all Crown Heights schools in true achdus.
The IRS provides a dollar for dollar tax credit, so your overall tax bill stays the same, but now your money goes directly toward tuition scholarships for families in our own community.
Who Benefits?
Families in Crown Heights with a household income under $280,000 will be eligible to receive tuition assistance. The more taxpayers who participate, the more scholarship dollars are available, potentially millions each year. The more the SGO collects, the larger the scholarships to each individual child will be.
When Does This Start?
The law goes into effect in 2027, just 18 months away. For now, we are asking families and community members to commit that, should they have a federal tax liability in 2027, they will direct it to this fund. Importantly, anyone anywhere in the USA can participate and receive a dollar for dollar tax credit.
How Can You Participate?
tp://www.chscholarshipfund.com” rel=”noopener” target=”_blank”>www.chscholarshipfund.com to pledge your commitment and sign up for updates. Then spread the word, every additional participant increases the support available for our parents.
This initiative has the power to ease tuition responsibilities for hundreds of families and transform Chinuch in our neighborhood.
We thank the dedicated individuals, R. Sholom Wolosow, R. Motti Goldstein, R. Pinny Vishedsky, who worked tirelessly to establish the Crown Heights Scholarship Fund. Your vision, effort, and mesiras nefesh have opened the door to a new era of support, achdus, and opportunity for our community.
Ask your accountant first
This is such needed help.
Do CH families can contribute as well if their kids in the local schools?
Does this mean tuition will now go up $1,700 just like it did for preschools with vouchers? How much moneys will “Crown Heights Scholarship Fund” keep for “Admin cost”
I was wondering the same as well. As a hardworking middle class person with a supposedly “good” degree , I dont qualify for vouchers. No i can not produce the paperwork needed. No I can not work parsonage etc. Now the new come back line will be, ” go apply to the scholarship fund?” Please explain how this will work. I do not say this from a place of malice rather from being hurt and burned.
By law the maximum they can keep is 10%.
I can’t effect the tuition price… but I pledge this if the admin costs is more than $10-15’k for the entire community I’ll open a new scholarship fund, we’ll know because the fund has to disclose it’s expenses.
We don’t need a new office or admin.. it’s just 1 annual filing and giving each donor a receipt.
and you know what it takes to run an organization that reports its income and disbursements ( hopefully in the range of millions) to the government? and you can do it for 10k a year?
A CH resident to do this?
If you pay federal taxes, like have ever written them a check or you speak with your accountant and he/she says your federal tax liability is greater than $1700 after all deductions.
Then this is good any part of the country or even companies around the world.
It’s federal tax credit
Kol Hakovod!
Can this be used as our children’s tuition discount if we live out of town, yet send to CH Yeshiva/ Girls school?
1) Hopefully the NY governor opts into the program. will probably be serious push back from the teachers unions.
2) It is 1,700 per taxpayer, which means,It will likely be allowed to take 3,400 tax credit per married couple.
we have to wait for the IRS guidance to confirm that it will allowed 3,400 per couple.
sounds like a wonderful community project and resource, but how does it work, is the fund a private organization, under whose ownership or management, and how do scholarships get determined (process, who and amount)…?
One wants to give it directly to a particular student/family?
Is the CH Scholarship Fund ensuring the schools dont raise tuition with the influx of money?
What are the fund criteria to ensure equal benefits to all?
Is the Fund controler being compensated for their work? How much?