What is the Virginia Education Improvement Scholarship Tax Credit (EISTC) Program?
- Virginia’s EISTC program offers donors 65% of their donation returned to them in Virginia tax credits.
- Donations to foundations approved by the Virginia Department of Education are distributed as scholarships for students from low-income families to attend accredited private schools.
- Virginia budgets $25 million each year for this program, which continues until 2028.
How is this donation program different from a regular donation to the school or a scholarship program?
- Donors receive Virginia tax credits for 65% of the full value of the donation.
- Donors who itemize ALSO receive federal and Virginia tax deductions for charitable contributions.
- Both individuals and businesses are eligible.
- Tax credits are awarded on a first-come, first-served basis, subject to Department of Education pre-authorization.
- Donors should include a Letter of Intent requesting their scholarships support students at Bishop Sullivan Catholic High School.