Standing in the Gap: Support Youth Transitioning from Foster Care with Georgia’s New Fostering Success Tax Credit
As we head into tax season, it is a blessing to know that taxpayers can redirect their tax dollars to directly help youth transitioning from foster care. The new Fostering Success Tax Credit allows Georgia taxpayers a dollar-for-dollar 2023 tax credit for donations made to Wellroot’s support programs for young adults.
All children need and deserve a loving family with no expiration date. Yet, in Georgia, over 500 youth exit foster care and are left to fend for themselves each year. This scenario carries lifelong consequences.
In fact, according to the Annie E. Casey Foundation Kids Count Data Center:
- One in six report experiencing homelessness between ages 17 and 19, and one in four report being homeless from 19 to 21,
- Nearly one in five are incarcerated by 19, and
- Nearly one in 10 report having a child (giving birth or fathering a child) by 19.
Our goal at Wellroot is to stand in the gap and increase hope for youth leaving foster care and entering adulthood without family support. Your generosity will help us expand the capacity of Wellroot’s Transitional Living Program and enable critical, needed services such as life skills training, tutoring, and career development.
Here are the allowable donation amounts which can be credited toward 2023 Georgia state income taxes:
- Single taxpayers may contribute up to $2,500 per year,
- Married couples may contribute up to $5,000 per year,
- Individuals who file under an LLC or S Corp may contribute up to $5,000 per year, and
- Large corporations may donate up to 10 percent annually.
Wellroot’s life-changing curriculum provides 24-hour support in a community-based housing setting. Life coaches guide residents through the process of earning their high school diploma or GED and advise the youth as they enter college or trade school.
We work to ensure that our young people are set up for financial, personal, and spiritual success. And we are proud of the life changing outcomes of our residential programs. For example:
- Wellroot Transitional Living Program clients are 50 percent more likely to graduate from high school.
- 100 percent of Wellroot’s Independent Living Program clients successfully gain employment, compared to only 50 percent of similar youth across the country.
The data speaks for itself, but wouldn’t be possible without loving contributions from our wonderful community. Consider investing your tax dollars in Wellroot and give new hope to youth transitioning from foster care.
If you would like to learn more about how your 2023 Georgia tax payment can be redirected to support youth transitioning from foster care, visit Wellroot.org/tax-credit or call our Development team at 404-327-5877. When you participate, you receive a 100 percent tax credit to your state income tax bill for your contribution. For financial advice about tax deductions, please consult a qualified professional advisor.
Source: Annie E. Casey Center (2022, April 1). Children in foster care in the United States. Kids Count. Retrieved March 8, 2023, from https://datacenter.kidscount.org; National Foster Youth Institute (2017, May 25). 51 Useful Aging Out of Foster Care Statistics. NFYI. Retrieved March 8, 2023, from https://nfyi.org/
About Our Residential Programs
Transitional and Independent Living Programs
We shepherd young adults as they transition from foster care to adulthood. Our programs provide 24-hour support as well as community-based housing to each youth. Wellroot offers ongoing life skills development, including financial literacy, tutoring, personal development, career development and education about nutrition and health. As part of both programs, we guide residents through the process of earning their high school diploma or GED and offer assistance entering college or trade school. Learn more.