Blog > Maximize Your Impact: The Qualified Foster Child Donation Credit with Murphy-Harpst

Maximize Your Impact: The Qualified Foster Child Donation Credit with Murphy-Harpst

As the holiday season approaches, many individuals and businesses consider charitable contributions that not only make a difference but also provide tax benefits. One significant opportunity is the Qualified Foster Child Donation Credit in Georgia. This program supports children who have aged out of foster care while offering donors a direct tax credit. Want to learn how your tax dollars can give hope to youth aging out of foster care?

What is the Qualified Foster Child Donation Credit?

The Qualified Foster Child Donation Credit is a state tax credit that encourages contributions to organizations serving youth in foster care. Unlike deductions that merely lower taxable income, this credit reduces the amount of tax you owe, providing a more immediate financial benefit for your generosity.

Steps to Claim the Credit: It’s as Easy as 1-2-3!

  1. Apply Online
    Before making your donation, you must obtain pre-approval. Here’s how:
    • Log in to create an account at the Georgia Tax Center website.
    • Follow the instructions provided in the Qualified Foster Child Donations Credit Pre-approval Instructions.
    • Select Murphy-Harpst as your Qualified Foster Child Support Organization (QFCSO).
  1. Donate to Murphy-Harpst
    You can contribute in two ways:
    • By Check: If you prefer to donate by mail, please allow sufficient time for delivery. Include a note to give towards the “Qualified Foster Child Donation Credit” to ensure proper processing.
    • Online: For a quicker option, you can donate online through the Murphy-Harpst website and add a note to give towards the “Qualified Foster Child Donation Credit” 

Once you receive your pre-approval, you have 60 days to make your donation, but remember: the deadline for donations cannot extend beyond December 31 of the current tax year.

  1. Receive Confirmation
    After your donation, Murphy-Harpst will send you a Qualified Foster Child Donation Credit Letter of Confirmation (Georgia Form IT-QFCD-FUND1).

When filing your taxes, be sure to complete the Qualified Foster Child Donation Credit Computation (Georgia Form IT-QFCD-TP2) and attach it to your tax return.

The Benefits of Donating

Your donations directly support the essential needs of children in the Transitional Living Program. This program provides young adults aged 18 to 21 with a safe place to call home as they transition from residential and foster care. Here, they can acquire vital life skills in preparation for independent living.