Taxpayers support low-income children with donations to Alabama Opportunity Scholarship fund

by L. Page Stalcup, III

Come on, Alabama! Lamarien is counting on you! Let’s raise $18 million before December 31.

Alabama tax payers are supporting thousands of low-income children through the donation of their Alabama income tax liability to the Alabama Opportunity Scholarship Fund (AOSF). This program is a win-win for Alabama: you get to give students the opportunity of a great education without having to pay a cent. You can donate your entire fourth quarter estimated tax payment today and receive a dollar-for-dollar tax credit on your state return.* Your donation is also eligible for a charitable contribution deduction on your Federal return. Individuals who are subject to the Alternative Minimum Tax (AMT) may receive a net cash benefit when they donate to AOSF.

AOSF is a nonprofit scholarship granting organization that currently funds $11.3 million in scholarships to 2,100 children in 40 Alabama counties. The program allows low-income Alabama families to choose the best educational option for their children by providing scholarships to attend the school of their choice. One of my favorite stories about AOSF comes out of Bullock County. Jimmy and De’Anthony met at Conecuh Springs Christian School after they each received a scholarship. Jimmy is Hispanic and completed his scholarship application by himself as his mother did not speak English at the time. Jimmy had a hard time in math. De’Anthony was a great student, excelling in math but struggling in Spanish. The boys quickly became friends and were able to help each other, and now both boys are making As in the subjects where they struggled. These boys would have never met and flourished like they have had it not been for their scholarships.You can watch their story below.

The process is simple to support these children. And we all need to come together and support them. These children are the future workforce and leaders in our communities. We need to give them the foundation on which they can thrive. You will need to reserve your tax credit through the Alabama Department of Revenue’s My Alabama Taxes website. Visit alabamascholarshipfund.org or contact Bri Jackson, AOSF Director of Development, at 205-206-7803 for more information.

L. Page Stalcup, III, CPA/ABV, CFF, CVA, CGMA
Wilkins Miller LLC

*Consult your tax professional