FAQ for Insurance Companies
How are insurance companies able to donate?
In 2022, Georgia's HB 517 was signed into law which allows insurance companies to claim 100%, dollar-for-dollar tax credits through the Qualified Education Expense program based on their Georgia state insurance premium tax liability.
Specifically, HB 517 creates a "Business Enterprise" donor category that is defined as:
Any insurance company or the headquarters of any insurance company required to pay the tax provided for in Code Section 33-8-4 (GA Insurance Premium Tax).
How much can a Business Enterprise (insurance company) donate?
Up to 75 percent of the business enterprise's Georgia state insurance premium tax liability.
However, individual Business Enterprises are limited to a maximum donation of $1 million.
Is there an annual cap for Business Enterprises?
Yes. There is an annual cap of $6 million allocated for the Business Enterprise donor category. This is a first come, first serve system, so once $6 million in donations have been made by Business Enterprises, no more donations can be made in this donor category until the following year when the fund opens again.
Can the tax credit be carried forward?
Yes, any unused portion of the tax credit can be carried forward for up to five (5) years.
Can the tax credit be used for previous years liability?
No, the tax credit can only be carried forward.
Can I designate that my contribution will provide a scholarship for particular students?
No. The law is very clear that you can designate your contribution to benefit a particular private school(s) in Georgia, but that you can not direct it to specific students.
Can I choose to support more than one school with my donation?
Absolutely. Just make that notation during the Paperless Donation Process and designate how you'd like the funds to be divided and we'll honor your wishes.
Am I required to choose a school(s)?
No. If you'd like to help students no matter which Georgia private school they choose to attend, we have an Undesignated Fund. We utilize this fund to provide scholarship assistance to those eligible students who will not be attending a school that we otherwise have funds available for.
How do I make my donation?
We accept checks or a direct wire transfer. We'll contact you to set up the wire transfer if that is the option you'd like.
If paying by check, please make your check out to: Alyn Scholarship Fund and mail it to:
Alyn Scholarship Fund
1320 South Madison Ave. #115
Douglas, GA 31533
What percentage of a donation is used for scholarships?
At a minimum, 92% of all donations are awarded to eligible students as scholarships.
In 2022, Georgia's HB 517 was signed into law which allows insurance companies to claim 100%, dollar-for-dollar tax credits through the Qualified Education Expense program based on their Georgia state insurance premium tax liability.
Specifically, HB 517 creates a "Business Enterprise" donor category that is defined as:
Any insurance company or the headquarters of any insurance company required to pay the tax provided for in Code Section 33-8-4 (GA Insurance Premium Tax).
How much can a Business Enterprise (insurance company) donate?
Up to 75 percent of the business enterprise's Georgia state insurance premium tax liability.
However, individual Business Enterprises are limited to a maximum donation of $1 million.
Is there an annual cap for Business Enterprises?
Yes. There is an annual cap of $6 million allocated for the Business Enterprise donor category. This is a first come, first serve system, so once $6 million in donations have been made by Business Enterprises, no more donations can be made in this donor category until the following year when the fund opens again.
Can the tax credit be carried forward?
Yes, any unused portion of the tax credit can be carried forward for up to five (5) years.
Can the tax credit be used for previous years liability?
No, the tax credit can only be carried forward.
Can I designate that my contribution will provide a scholarship for particular students?
No. The law is very clear that you can designate your contribution to benefit a particular private school(s) in Georgia, but that you can not direct it to specific students.
Can I choose to support more than one school with my donation?
Absolutely. Just make that notation during the Paperless Donation Process and designate how you'd like the funds to be divided and we'll honor your wishes.
Am I required to choose a school(s)?
No. If you'd like to help students no matter which Georgia private school they choose to attend, we have an Undesignated Fund. We utilize this fund to provide scholarship assistance to those eligible students who will not be attending a school that we otherwise have funds available for.
How do I make my donation?
We accept checks or a direct wire transfer. We'll contact you to set up the wire transfer if that is the option you'd like.
If paying by check, please make your check out to: Alyn Scholarship Fund and mail it to:
Alyn Scholarship Fund
1320 South Madison Ave. #115
Douglas, GA 31533
What percentage of a donation is used for scholarships?
At a minimum, 92% of all donations are awarded to eligible students as scholarships.