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FINANCIAL ASSISTANCE

Limited financial assistance may be available for families who have demonstrated need. Aid may include Caritas and/or McGraw Scholarships.  Students in Kindergarten through 8th are eligible to apply.  

There is also a state program called the Illinois State Tax Credit Scholarship Program made possible by the Illinois Invest in Kids Act, passed in the fall of 2017. This program is for families with a high level of demonstrated need (CHECK HERE TO SEE IF YOU WOULD QUALIFY). If you qualify for this program based on your family house hold size and your adjusted gross income, YOU MUST APPLY AS SOON AS THE APPLICATIONS OPEN. PLEASE SEE THE ENTIRE TAX CREDIT SCHOLARSHIP SECTION BELOW FOR DETAILS.

If you do not qualify for the Tax Credit Scholarships, but you do have need, to be considered for financial assistance you must first submit a FACTS Grant and Aid Application, upload all required supporting documents, and pay the online application fee ($30) to FACTS. This must be done every year that you would like to be considered for aid.

Caritas and McGraw Scholarships are renewable, but you must reapply through the FACTS Grand & Aid Application each year to be considered.  

 

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ILLINOIS TAX CREDIT SCHOLARSHIP - IMPORTANT INFO

The rollout of the Illinois State Tax Credit Scholarships for the 2019-20 school year is fast approaching. This program has been hugely beneficial to our school for this current school year with 71 students receiving either 50%, 75% or 100% scholarships! Our success was based on parents submitting their applications the very second the systems opened. We will need to do the same all over for this upcoming year!

PARENTS

MORE about THE INVEST IN KIDS ACT

In the fall of 2017, the Illinois legislature passed the Invest in Kids Act which provides a 75% Illinois state tax credit for donors who contribute toward scholarships for students from Kindergarten through Senior year in high school. The scholarships would cover tuition and certain applicable fees, paid directly to the private school of choice for an Illinois student/family, if the family qualifies. Scholarships can potentially cover 50%, 75% or even 100% of tuition, depending on the adjusted gross income and size of the family.  

Contributions from donors will be made through qualified Scholarship Granting Organizations (SGOs), and the scholarships will be awarded through the SGOs, as well. 

The Archdiocese of Chicago Office of Catholic Schools has contracted with Empower Illinois to be the SGO of choice for all of our Catholic Schools.  Big Shoulders Fund is also a qualified SGO and, as an applicant, you are encouraged to put in an application through BOTH SGOs.  

 

IMPORTANT INFORMATION FOR DONORS

While bigger donors gain a bigger tax benefit from contributing to these scholarships, even more humble contributions from individuals can really maximize a contribution to a specific school (ideally, Pope Francis Global Academy) by donating into this scholarship fund.  Most of the funding at this point has been through smaller, individual donations.

For example, if you were to donate $1,000 and ear mark it to Pope Francis Global Academy, $750 of that money would be eligible for a full tax credit for your 2018-19 tax year  (info per the Tax Policy Center/Brookings Institute: "Tax credits are subtracted not from taxable income, but directly from a person’s tax liability; they therefore reduce taxes dollar for dollar. As a result, credits have the same value for everyone who can claim their full value.") Read more HERE.  Instead of paying $750 that you owe in taxes to the state of Illinois, you would be funding $1,000 worth of scholarships to Pope Francis Global Academy!

MATCHING GRANT OPPORTUNITY TO TRIPLE YOUR IMPACT!

RIGHT NOW, through February 23, there is a very generous 2-for-1 MATCHING GRANT which will TRIPLE the value of your donation! This means that a $1,000 donation turns into $3,000 in Tax Credit Scholarships for our Pope Francis students! And, $750 of that $1,000 was going to be paid to the state in taxes anyway, so you’re really only out $250 and you have provided $3,000 in scholarships!

Talk to your tax preparer about the value of this type of contribution TODAY! While there is a cap on how much can be donated into this fund, they haven't reached the cap, so it's worth looking into. 

HERE is a good explanation of how it all works. 

 

More information can be found at mytax.illinois.gov,  empowerillinois.org , and at archchicago.org