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I want to take a moment to let you know about a Virginia state tax credit that its available to you and benefits a local organization right here in the 53Rd House of Delegates District.
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~Jackson 5, "ABC"
I'm happy to report that the Virginia Department of Education recently awarded the Falls Church-McLean Children's Center (FCMCC) over $100,000 in tax credits to make available to their donors. Now, businesses and individuals that donate to the Children's Center can take advantage of this credit while contributing to an organization located in our community!
Virginia residents or businesses that make a charitable gift of a minimum of $1,000 to the Falls Church-McLean Children’s Center this spring will be rewarded with a remarkable VA Tax Credit worth at least 65% of their donation and a reduction in federal taxable income for their 2016 tax returns.
The combined VA Tax Credits and decreased taxable income cut the ultimate cost of the minimum $1,000 gift to just $191, depending on your individual tax circumstances.
I know we hear a lot about tax credits that seem to benefit the people that need the help the least, or function as a form of corporate welfare. SO I wanted to make sure you knew about this credit that can be used my many of us here in the 53Rd district to help a worthy organization located in our district.
Falls Church-McLean Children's CenterEstablished in 1968, the Center's mission is to provide affordable, high quality early childhood education to low-income working families. Current enrollment includes 70 kids housed in a dedicated wing of Lemon Road Elementary School, built especially for the Center.
Over the years, the Center has been honored by the Virginia General Assembly, the Fairfax County Board of Supervisors, and the Fairfax County Public School System for outstanding service.
Earlier this year, the Virginia Department of Education awarded the Children's Center tax credits to pass on to businesses and individuals that make a minimum $1,000 sponsorship donation. This is a great way to help more children at a lower cost through this tax credit.
The Center is having their 4th Annual Teddy Bear 5K & 1K in September of this year, which is the perfect sponsorship opportunity. To put the tax credit in perspective, here is a chart showing the effects of the tax credit and your donation.
Sponsorships must be paid before June 30, 2016 to receive the tax credit.
For more information about FCMCC, please check out their website and Annual Report.
To learn more about the Teddy Bear 5k, sponsorships and, the available tax credit, contact Renee Boyle, FCMCC Development Director, at (703) 534-4907 or Renee_Boyle@FCMLCC.com.