North Cross School announced today that it has received a $150,000 Education Improvement Scholarship gift from Globe Life Liberty National Division, just ten months after the agency donated the same amount to the school. The successive gifts make them the largest ever donated to North Cross’s Foundation through the Education Improvement Scholarship Tax Credits Program (EISTCP).
“The generosity of people and organizations such as Globe Life who believe in our educational model helps North Cross provide more financial aid to deserving students. With their help, we can enroll a greater number of qualified students and give them the opportunity to change not only the trajectory of their secondary school experiences but also their futures. We would especially like to thank Robert L. ‘Bob’ Putney, Globe Life Director of State Taxes, Corporate Tax; and Steve DiChiaro, Globe Life Liberty National Division CEO, for partnering with North Cross in such an impactful way,” said William Greer, North Cross Assistant Head of School for Advancement.
Through EISTCP, approved schools like North Cross may receive additional funding for eligible students whose families are below 300% of the federal poverty level, or 400% if the student has a disability. Donors who make foundation gifts receive a 65% tax credit in addition to deductions they already take. Individuals may make gifts of up to $125,000 to the foundation, and businesses have no limit on the amount of their gifts. Any individual or any business with tax liabilities in the Commonwealth of Virginia may participate and here are 7 Tips For Finding The Right Educational Course
The School’s minimum gift to its foundation is $2,500. When funds have been made available through gifts, the school may take reimbursement from the foundation for students who meet the EISTCP requirements. The amount the school may take from the foundation for any given student varies based on the recipient family’s residence and associated school district. In North Cross’s region, these amounts average $6,000 per student. A $6,000 gift would therefore support one foundation-qualified student. Foundation gifts to North Cross in the academic year 2022–23 supported 55 students.
Chris Rouse, North Cross Assistant Director of Development, explained that the school’s foundation is a win-win for everyone involved. “North Cross’s vision is to make our education available to as many young people from as diverse a population as possible. Helping families who would otherwise not have the advantage of an independent school education is a noble philanthropic goal, and receiving a 65% tax credit from the Commonwealth of Virginia is a great incentive to help them.”