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"I believe what truly matters in life is making a difference, making the kind of difference you have made in my life."
- Student, Bishop Hendricken High School
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FACE of RI Report
Click here to view the FACE of RI Awards by Years.
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Contact Us
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Catholic School Officecsodpvd.orgOne Cathedral Square, Providence, RI 02903
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Your corporate tax credit contribution
will change a child's life! Thank you! -
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FACE of RI
What it is
FACE ( Financial Aid for Children's Education) of Ri is a tuition tax credit program that supports economically challenged families who wish to enroll their children in non-public education. Corporations who are accepted through the State application lottery take full advantage of a significant tax credit if they agree to divert a portion of their RI tax liaibilities to a Scholarship Granting Organization (SGO). In doing so, they can receive up to a 90% tax credit.
How to help
Information available by clicking here and visiting the Rhode Island Division of Taxation website
Benefitting Catholic School Students
FACE of RI (Financial Aid for Children's Education of Rhode Island) is the DIocesan Scholarship Granting Organization (SGO) that provides tuition assistance for economically challenged students wishing to attend a Catholic school in the Diocese of Providence. 95% of every dollar received provides tuition assistance for a lower-income family. Since its inception, FACE of RI has granted approximately $5.6 million in corporate tax credit contributions and assisted just over 4,400 students. -
For your information
The Treasury Department Makes Clear that Donors to State Tax Credit Scholarship Programs Can ALSO Take Federal Tax Deductions
December 2019
Earlier this month, Treasury/IRS issued sweeping guidance that makes clear that most donors are permitted to take federal income tax deductions for certain contributions to SGOs despite also receiving a state tax credit in return for the donation. This is fantastic news for the 22 state tax credit scholarship programs and Scholarship Granting Organizations (SGOs) that provide educational choice to over 300,000 students nationwide.
Below is an overview that you can highlight to your tax advisors:
Individual Donors
For donations made after August 2018, Treasury/IRS allows individuals who get a state tax credit for contributing to an SGO to ALSO get a federal tax benefit. These donors can take a federal state and local tax deduction, up to the limit for deductions related to state and local tax deductions of $10,000 ($5,000 for married taxpayers filing separately)
“C” Corporate Donors
For donations made in 2018 or later, corporate donors that get a state tax credit for contributing to an SGO can treat that contribution as an ordinary and necessary business expense for federal tax purposes.
Pass-through Organizations
For donations made in 2018 or later, S-Corporations, LLC’s, partnerships and other pass-through entities that get a state tax credit for contributing to a SGO may be able to treat that contribution as an ordinary and necessary business expense (if certain conditions are met) AND pass through the state tax credits to partners/shareholders.