How does AAA Work?
The Alabama Accountability Act, or AAA, provides funds for scholarships for children of failing public schools who transfer to qualified private schools. We encourage you to consider participating as we have seen it provide more opportunities for lower-income children to attend private schools throughout the State of Alabama, but also at Restoration Academy!
Individuals can allocate 100% of the tax liability they owe the State of Alabama by giving it to a Scholarship Granting Organization (SGO). We have been assured that your gift will not cause unwanted state entanglement to Restoration Academy. You send your money to a separate 501c3 (SGO) and it is then awarded to the schools that qualify and have requested funds for qualified transfers. With this in mind, if the state ever began to infringe on our Christ-centered mission, Restoration Academy would remove itself from the process.
The Scholarship Granting Organization can then award scholarships to schools with lower-income students (the money is sent directly to the school on behalf of students who qualify).
The AAA is a benefit to anyone who has tax liability to the State of Alabama. Your gift is a $1 for $1 tax credit, not a deduction, which means this is a “cash neutral” proposition. This means you have more control over where your tax liability goes. Either an individual’s entire income tax liability is paid to the state of Alabama or 100% (up to a $100,000.00 dollar max) can be allocated to a participating urban private school. There is a three year carry forward with your donation if it exceeds your tax liability. There could also be some federal tax benefits from your donation; please consult with your tax advisor for more details.
If you are a donor to RA please continue to support our scholarship initiative in addition to your participation in this “cash neutral” program.
Please use the SGO called Scholarships for Kids, Inc. to allocate your gift to Restoration Academy. Donations may be sent directly to:
Scholarship for Kids, Inc
PO Box 10204
Birmingham, AL 35202
We suggest using this SGO because it will consider your request to give your gift to Restoration Academy if you include a separate note along with your check.
We encourage you to consult your accountant for more details. If you would like to consult with one of our board members who has already donated through the program and would be willing to give you further information, please feel free to do so. Follow this link for our Board of Directors.
Contact Stephen Bridgers with all of your questions. Call (205) 246-5613 or email stephen@scholarshipsforkids.org