ALEF Fund and Our TBT Preschool
Since 2014 TBT has been participating in the ALEF Fund. This has allowed many of our Jewish children to attend our Preschool that otherwise would not been able to afford it through ALEF Fund scholarships. The ALEF Fund along with many other Georgia scholarship organizations has been wildly successful.
WHAT IS THE ALEF FUND?
The ALEF Fund - partnered with the Georgia Goal Scholarship Program - is a school scholarship organization (SSO) created by The Jewish Federation of Greater Atlanta. It was established to allow Jewish schools to benefit from the state’s Qualified Education Expense Credit program by redirecting your Georgia State income tax dollars.
WHY SHOULD I CONSIDER DOING THIS?
The need for financial scholarship has never been greater and your ALEF Fund tax reallocation will help to fill this need. By performing a mitzvah that comes at virtually no cost to you, you can help a deserving Jewish student receive a Beth Tikvah Preschool education.
WHO CAN PARTICIPATE?
Anyone who pays taxes to the State of Georgia. This includes corporations as well as individuals. Your contribution will earn you, the taxpayer, a dollar-for-dollar State of Georgia tax credit. See below for tax credit limits.
Tax Credit Limits Based on Filing Status
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Tax Filing Status
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Contribution Limit
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Single Filer
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$2,500
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Married Separate Filer
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$2,500
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Married Joint Filer
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$5,000
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Pass-Through Owner (not making HB 149 election)*
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$25,000
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C Corp, Trust, or Pass-Through electing to pay tax at the entity level (HB 149)*
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75% of annual tax liability |
*Pass-through businesses can achieve considerable benefits through the GOAL tax credit due to favorable state and federal tax laws and regulations. These include a state tax credit, a federal tax deduction, and a substantial philanthropic impact. Learn more here.
As always, we encourage you to consult your tax advisor before participating in the ALEF Fund.
For more information about being a donor, click here
WHEN SHOULD I ACT?
The time is now! It is almost certain that the tax credits will be oversubscribed in 2024, just as they were in 2023. Accordingly, you must submit your 2024 application before the end of 2023 to obtain a tax credit. In addition, keep in mind that you are unlikely to be approved for the full amount of your requested tax credit. To ensure that Temple Beth Tikvah Preschool receives your allocation before the credit runs out please complete your credit request forms immediately by going to the Georgia Goal Scholarship program located here. As always, payment is not required until after you have received approval for your contribution from the state (by mid-January 2024).
Please feel free to contact Linda Siegel with any questions. Thank you for considering doing this mitzvah and join us in helping families provide a Jewish education for their children.
Linda Siegel
Preschool Director
