Scholarship Tax Credit Program

Interested in Donating and Receiving Virginia’s Education Improvement Scholarships Tax Credits (EISTC)?

STEPS IN THE PROCESS

DONOR

Obtains blank Preauthorization Request Form and Letter of Intent and sends the completed documents to McMahon Parater Scholarship Foundation (MPSF) by 12/15/2020.

MPSF

Files the Preauthorization Request Form electronically with the Virginia Department of Education (DOE)

DOE

Reserves tax credits and mails a numbered Approval Letter to the Donor.

DONOR

Signs the numbered approval letter and sends to MPSF with the donation* within 180 days.

MPSF

Sends signed Approval Letter and proof of donation to DOE; send acknowledgement letter to Donor and school.

DOE

Sends the Tax Credit certificate to the donor. 

Please consult with your tax advisor to determine your specific tax savings.

Important update from DOE: EISTC Preauthorization Requests received prior to December 15, 2020, will be approved or returned for correction by 5 pm December 21, 2020. Preauthorization Requests submitted between December 15 and December 31 will be reviewed in January, 2020.We encourage all new EISTC donors to submit their Preauthorization Request forms for 2020 as soon as possible. Please remember that preauthorizations are valid for 6 months from the date of their Approval Letter – which means that you can submit a preauthorization request now, and still wait until December 31 to write your check and receive 2020 tax benefits.

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