Apogee and our Preschool 3 August 2014

1. Apogee and our Preschool 3 August 2014

2. Apogee and our Preschool • Our preschool currently has 17 registered students for this fall - we are growing. • The preschool is spreading Gods word and is our main Outreach tool. • To keep our student costs competitive with other schools in this area, we rely on parent funding, Apogee Scholarships and Congregational support. • Congregational support to the preschool is around $4,000 per month. • As Apogee support increases, congregational support can be decreased.

3. What is the Apogee Scholarship Fund? -This program provides tax credits to GA tax payers who wish to support educational opportunities to families seeking educational alternatives to the free Public School option. • Georgia tax payers can pay their state taxes into this fund ahead of time and receive a dollar-for-dollar GA tax credit as well a Federal charitable contribution deduction. • You can designate the school to receive your tax credit contribution money for tuition scholarships. • The tax credits are allocated on a first-come, first-served basis. • Why should I do this? • If you pay Georgia state tax, you are going to either pay the state money for them to use, or you can pay it to the state early and have it designated for our preschool. • What if I don’t pay Georgia State Taxes? • - You must pay GA state tax to be eligible for the Apogee Fund. If they would like to present a monetary gift to our preschool to help defray tuition expenses, they may put the gift in the regular church offering and clearly mark on the envelope that it is for "preschool scholarship.“ • How much can be contributed? • The maximum individual limit is $1000 and the married couple limit is $2500. • Giving up to $10,000 is a pass through taxpayer opportunity for people who are members of LLCs, S-Corporations, and any non C-Corp businesses. • When does this need to be done? • You may invest in the scholarship program beginning NOW for the upcoming calendar year. It is anticipated that the funds will be all committed for by mid September. (First come – First served) When you fill out the paper work now you will receive a notice in January 2015. When you receive this notice you will then have 60 days to send in your state tax dollars to the Apogee Scholarship Fund. (March)

4. How does this fund help Prince of Peace? • - This allows parents to pay less for their child's Christian education and relieves some of the burden the congregation faces in subsidizing the preschool. • How do I sign up? • The church website has the information and forms. • There also is an Apogee website to sign up electronically: https://www.apogee123.org • How do I declare this as a deduction on my taxes? • Any tax advisor can explain how to declare this and you get a form to file with your taxes. • The Apogee website also clearly explains how to declare this deduction. • Have we done this in the past? • Yes – and the funding that was provided was invaluable to the preschool. • An example of using the Apogee program this year • August - Contributors start sending in applications. • January • Apogee will start pre-approving the applications and sending out notices – this preapproval is based on when these applications were originally received, starting in Aug. • Upon receiving this notice, contributors will have 60 days to send in the money. (March 2015) • If a person fills out the form to makes a contribution in August, they would have until the end of March to save the money (about 7 months) when they would need to actually pay it. • Who do I see for more Apogee information or for the forms?Nancy or Charles