|Dear Parents and School Leaders,|
Yesterday morning, our Board of Directors voted unanimously to disburse 10% of the spring checks to each school and to continue distributing scholarships as new donations come in. Obviously, we have a wide range of amounts that schools receive and the Board feels strongly that we have to dispense the money evenly across the schools.
Since we are a tax-credit scholarship organization and not a government program, we raise every scholarship dollar through donations. We’ve been in touch with our donors, as well as the CPAs and financial advisors who have supported us through their clients’ donations in the past. It is these people who have made these scholarships possible for your students. Not only are they navigating the coronavirus economic roller-coaster, but so many of them are still awaiting final written clarification from the IRS on their “rules change” for businesses and pass-through entities. Once that is issued, many are ready to make donations.
In speaking with state legislators before their coronavirus furlough, our key supporters on the budget-writing committees made it clear that they are looking to make needed changes in our law that will strengthen our program.
As with the staffs at your schools, we are working remotely but anticipate mailing the next round of scholarship checks this week. Thank you and we will get through this! God Bless,
Chairman of the Board