Iowa Lutheran School Tuition Organization
What is the Iowa Lutheran School Tuition Organization (STO)? During the 2006 Iowa Legislative Session a new program to benefit Iowa Non-public Accredited School Families was put in place. It a program designed to help parents who desire a non-public education for their children, but are unable to afford it. For the calendar year 2007, $5,000,000 was allocated for Tuition Tax Credits. For the 2008 calendar year $7.5 million dollars have been allocated for Tuition Tax Credits.
In January 2007 the State Accredited Lutheran Schools of Iowa went together to form a Lutheran School Tuition Organization. During this school year we can raise $346,000 for our tuition organization. We have $224,928 in tuition tax credits to distribute. During the 2007 calendar year we are raising money to be distributed during the 2008-09 school year. How does this benefit Iowa East Lutheran Schools? There are two ways.
First of all, for those of you who donate to the Lutheran Tuition Organization you will receive a 65% tax credit. For example, if you donate $1000 to the Lutheran STO you will receive a voucher for $650 tax credit on your Iowa State Income Tax. That means you will be able to subtract $650 from the dollar amount owed the state of Iowa. In addition, you can use the amount as a deduction on you Federal Income Tax as a charitable contribution. Wouldn’t it be great to help a student attend an Iowa District East Lutheran School instead of paying taxes?
Second of all, families whose income is up to 4 times the national poverty rate are eligible for tuition assistance from this program. We would be able to more fully fund students attending Iowa East Lutheran Schools. We would be able to provide our school ministry and share the Gospel with more children and their families. By so doing, increase enrollment. Now that’s something to think about.
Our goal is to fully fund the Lutheran STO this year. I am asking you to consider a donation. Not only will you help students attend Iowa East Lutheran schools in the state, you will also benefit from a tax credit. Not only that, but Thrivent will match up to $400 of your contribution.
Please share this information with your friends. Any person who pays Iowa State Income Tax is eligible for the tuition tax credit. Please consult your tax advisor, to see how this program can benefit you.
If you would like more information spend some time at iowalutheransto.org or contact Mrs. Buescher at 319-233-3967.
To receive tax credit for the 2007 tax year, your donation must be made by December 31, 2007. Remember, we only have $224,928 in tax credits to give out. Once that amount is gone, there can be no more tax credits given. So donate early, you don’t want to be left out! We are now able to accept non-cash donations also.
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The Iowa Lutheran
School Tuition Organization (STO)
Donation Form
Gifts to the STO must be paid and received by December 31, 2007 to be eligible for the tax credit. Total credits available are limited and will be provided to donors on a first-come, first-served basis. You will receive a tax credit certificate from the STO in January, 2008 to attach to your Iowa income tax return. If you choose to designate funds to a specific school, we will direct funds to the designated school. Once the identified needs of qualifying students attending the designated school have been met, any unused restricted donations will be made available to satisfy the needs of qualifying students at other schools within the STO.
Name: __________________________________________________
Address: ________________________________________________
City: ____________________ State: ______ ZIP: _______________
Phone: (______)________-___________
Email Address: _______________________________________________
Church Name & City/State: ______________________________________________
Total gift amount: $____________ SSN: _____________________________________
Signature: ________________________________________
Gift Fulfillment:
My gift payment is included
Please contact me for a gift in 2008.
Please make checks payable to Iowa Lutheran STO
Please apply my donation to: (check one)
Iowa Lutheran STO General Fund: Distribute where needed most
Trinity Lutheran School, Boone
Central Lutheran School, Newhall
Trinity Lutheran School, Cedar Rapids
Zion-St. John Lutheran School, Paullina
Clarinda Lutheran School, Clarinda
Community Lutheran School, Readlyn
Clemons Lutheran School, Clemons
St. Paul Lutheran School, Sioux City
Trinity Lutheran School, Council Bluffs
Iowa Great Lakes Lutheran School, Spencer
Trinity Lutheran School, Davenport
Concordia Lutheran School, Storm Lake
Zion Lutheran School, Denison
Immanuel Lutheran School, Waterloo
Dubuque Lutheran School, Dubuque
Lutheran Interparish School, Williamsburg
St. Paul Lutheran School, Fort Dodge
Zion Lutheran School, Wilton
St. Paul Lutheran School, Latimer
Please mail completed Donation Form and payment to:
Iowa Lutheran STO
1122 W. Central Park
Davenport, IA 52804
The deadline for 2008-09 school year donations will be December 31st, 2007.
Donations received in 2008 will be applied to the 2009-2010 school year.
