All
information on this page is as accurate as possible, but be sure to
consult a tax professional for any questions regarding how to file
the tax credit. Click
here for additional information on how the tax credits
will be disbursed.
The goal of
the School Tuition Organization (STO) is to raise approximately
$949,505 for the 2020 calendar year. According to the law, donations can be cash or stock
gifts. In
addition, in order to qualify for the tax credit, the donor must be
an Iowa taxpayer.
To encourage
donations, all donations are eligible for a 65% tax credit. The
following illustration shows how the tax credit works:
Donation |
$1000 |
Tax Credit |
(65% of the $1,000 donation)
$650 |
Net Cost of Donation |
$350 |

The tax
credit works as a DIRECT REDUCTION in Iowa state taxes. If the donor
in the example above owed $1,000 in state taxes, the tax credit
would reduce his tax liability to $350. In addition, 35% of the gift would
also be able to be taken as a charitable contribution on federal tax
returns. Refer any questions regarding the specifics of tax
preparation to a tax professional.
You can
make your gifts to the STO in two easy ways:
Donation Form (click)
**
This application is in a .pdf format. To obtain a .pdf reader,
click here. **
-
Give your
gift with a completed Donation Form to your local school, who will forward it to the STO
-
Mail your
gift with a completed Donation Form to:
Iowa
Lutheran STO
PO Box 176
Terril, IA 51364
Donation Form (click)
**
This application is in a .pdf format. To obtain a .pdf reader,
click here. ** |