For Donors
Each and every contribution through the PEACH Education Tax Credit nets a positive gain to public education in Georgia, encouraging improved school settings in K-12 classrooms all over the state. You, too, can make a difference in the life of a child and be part of the reason why Georgia’s 1.7 million public school students receive an advantage that improves their quality of life – and eventually improves the workforce throughout Georgia.
More than 100 schools and 16 nonprofit organizations across 37 school districts that serve 14,282 students have already received direct aid through PEACH Education Tax Credits, and you can be a part of that proud tradition.
Not only will your donation to the PEACH Education Tax Credit make you part of advancing public education in the state of Georgia, but you can do that at no additional cost to you or your corporation. You know your tax dollars are going to support something you value.
Offering tax credits for education is a win-win situation, as qualified donors receive a dollar-for-dollar tax credit on their state income tax, and educators receive an opportunity to improve their schools. However, each individual or corporation must be approved to contribute to PEACH, and this may be achieved by simply applying for the tax credit through the Georgia Foundation for Public Education. After receiving qualification status, individuals and corporations may then make their payment.
Please note that the PEACH Education tax credit is capped at $5 million and is approved on a first-come, first-served basis, so do not hesitate to apply for yourself or your corporation before the cap is met!
Tax Credit Limits Based on Filing Status
- A single individual or head of household is eligible to receive a Georgia state income tax credit up to $1,000.
- For married couples that file separately, you are eligible to receive a Georgia state income tax credit up to $1,250.
- A married couple filing jointly is eligible to receive a Georgia state income tax credit up to $2,500.
- An S-corporation shareholder, LLC member or partnership partner is eligible to receive a Georgia state income tax credit up to $10,000.
- A C-corporation or trust is eligible to receive up to 75% of annual Georgia income tax liability.
How to Contribute to PEACH
To properly complete your Georgia Foundation for Public Education PEACH Education Tax Credit donation and receive a dollar-for-dollar tax credit on you or your corporation’s Georgia state income taxes, please follow these simple steps:
- Apply Now
Complete your 2022 PEACH Education Tax Credit application today (it takes less than a minute!). GFPE will submit your application to the Georgia Department of Revenue (DOR) on your behalf.
- Receive Approval
GFPE and DOR will notify you of your approved tax credit amount and payment deadline to take part in PEACH.
- Make your Donation
Submit your payment to GFPE before the payment deadline, which is 60 days after receiving pre-approval from the DOR. Within one week of receiving your donation, the GFPE will send you the Form IT-QED-FUND1, which serves as the receipt for the donation. If you prefer to make a donation via check, please contact GFPE for details at 678-590-7047.
- Claim your Tax Credit
To claim the tax credit on your state income taxes, you will need to complete Form IT-QED-TP2 and attach it to your income tax return when it is filed. You may download the form here. (Note: you will take the credit when you file your taxes in the year following your contribution).It is a simple and rewarding way to improve our state, as you increase educational opportunities for our 1.7 million publicly schooled children. And the tax credit that you earn allows you to know that your dollars will go to work exactly where you want them.
If you have any questions, please contact Karma Jordan at 678-590-7047 or kjordan@doe.k12.ga.us
