MSGR. LAFFERTY TUITION FOUNDATION
Note: We have $79,600 in Lafferty funds available for Iowa residents
Msgr. Lafferty Tuition Foundation: NO CAP!
Note to Iowa residents: Tax CREDITS are available at 65 percent of your donation for NEXT year's assistance. You could save 65 cents on the dollar on your Iowa taxes by participating - and your standard federal tax deduction if you itemize. We were able to help 66 students with the generosity of our 2006 donors. We will receive a report on our 2007 donors' award recipients in May. We raised $63,000 over the past two years!
How does it work for me? For example, take a $1,000 contribution:
$1,000 donation
-650 subtracted from Iowa taxes
-250 federal deduction if you are in the 25 percent tax bracket
= a $100 cost to you, a $900 return for your $1,000 investment. AND you've helped a student.
Note that there is no cap on donations this year! You will not have to wait until after November 1 to make a large donation. There is no minimum donation. New this year - we can accept gifts of stocks. After December 1, 2008 our tax credits could be purchased by donors from other schools to benefit those schools. Donors will receive their tax certificates from the foundation in January 2009. This is not open to corporations or businesses. We have a total of $79,600 in credits available.
Contact Dawn Prosser at (712)732-3110 Ext. 15 or smalumni@iw.net for more information on these tax credits and their availability. We have a limited number of credits available.