CICM Student Scholarship Frequently Asked Questions

What are the Tax credit donation limits?

Individual Donors credit limits:

  • Single individual or head of household: - $1,000
  • Married filing separate return: - $1,250
  • Married couple filing joint return: - $2,500

Small Business Donors credit limit:

  • C-corporations: - 75 percent of corporation’s income tax liability.
  • S-corporations:  - $10,000 per business owner.
  • Partnerships: - $10,000 per business owner.
  • LLCs: - $10,000 per business owner.

Can I donate via credit or debit card?

Yes. Donate via credit card here.

Should I give now or wait until the end of the year?

• You should give immediately. The tax credit is capped at $58 million annually and once the funds are used up, no future scholarship tax credits donations can be given for the tax year.

• By giving early, your school can better forecast the number of scholarships that can and will be disbursed for the next fall semester.

Do I really receive a tax benefit from donating if I’m an AMT filer?

• Yes, AMT filers will earn up to 29% of their donation amount. Consult your tax advisor for clarification.

What happens if my donation exceeds my tax liability?

• The tax credit is not a “refundable” credit. However it is not lost as any excess over your total current year Georgia income tax will be carried forward for up to 5 succeeding tax years.

What is included in the donation package provided?

• Donation Direction Form (for directing your donation to your school of choice)

• Form IT-QEE-TP1

What happens to my donation after I mail it to CICM?

• CICM holds your donation until we receive confirmation of approval.

• Once confirmation of approval is received (normally within 60 days), CICM deposits your donation to be used for qualified student scholarships at the school of your choice.

• You may send your donation with your approval form if you wish to hold your funds until approval is received. 

What happens to my donation if I mail it to CICM and am not approved by the Department Of Revenue?

• CICM will hold the check and contact you. You may instruct CICM to return or destroy the check, or deposit it as a charitable donation.

What is cicm's taxpayer ID#?

CICM Student Scholarship Organization - taxpayer ID# 58-2600951

How do I notify CICM that I have received my pre-approved Form IT-QEE-TP1 from the Department of Revenue?

• The Georgia Department of Revenue will mail your donation approval to the address you provide us. 

• Upon receipt, please Scan and Email or FAX (678-845-0417) or Mail copy to CICM at 3150 Old Atlanta Road, Suite 200 Suwanee, GA 30024. 

• This will notify us to process and release your donation to your designated school.