How to Donate to the Fund & Receive Tax Credit

Donating and receiving the Qualified Education Donation Tax Credit is a five-step process. We know it looks complicated, but nothing this great comes easily. We promise, the process is easier than it looks. These steps include:

  1. Set Up an Account: Set up an income tax account on the Department of Revenue’s Georgia Tax Center. If you already have a Tax Center account, begin at Step 2.

  2. Request Pre-Approval (this is NOT your donation):

    • Request pre-approval to receive the tax credit by electronically submitting Form IT-QED-TP1 through the Georgia Tax Center. This step-by-step guide outlines how to request pre-approval.

    • Within 30 days from the date Form IT-QED-TP1 is received, the Department of Revenue will notify each taxpayer and the Innovation Fund Foundation via mail of the pre-approved contribution amount. NOTE: The tax credit is granted on a first come, first served basis based on the date the Department of Revenue receives Form IT-QED-TP1. Taxpayers should not make a donation prior to receiving pre-approval confirmation from the Department of Revenue.

  3. Mail Donation to the Innovation Fund Foundation: Within 60 days from the date of receiving pre-approval, the taxpayer can mail a check for up to the pre-approved amount to the Innovation Fund Foundation. Any donated amount exceeding the pre-approved amount will be considered a tax-deductible gift (rather than the full tax credit). If taxpayers donate less than their pre-approved amount, those credits do not become available to other taxpayers. Therefore, taxpayers should only request pre-approval for credits they intend to use.
    Please mail your contribution and a copy of your pre-approval letter directly to the Innovation Fund Foundation accounting at the below address:
    Innovation Fund Foundation
    Qualified Education Donation Tax Credit
    c/o Qbix Accounting Solutions, Inc.
    500A Northside Crossing
    Macon, GA 31210

  4. Receive Form IT-QED-FUND1: Within 15 days of receiving your donation, the Innovation Fund Foundation will provide you a letter of confirmation (Form IT-QED-FUND1).

  5. Claim Your Tax Credit: Complete and submit Form IT-QED-TP2 with your Georgia tax return to claim the tax credit.

Additional Resources
Department of Revenue information about the QED

Department of Revenue instructional video on how to submit your request