Building Westmont's
Future Together
Our Gift Planning team has experience across a range of giving opportunities, and we are always available for phone calls and personal visits to discuss your particular areas of interest, from designating Westmont in your wills or trusts to exploring life income gifts with generous tax benefits.
We offer supplemental estate planning and tax guidance information on these web pages through our planned giving partner, Crescendo Interactive, Inc. Based in Camarillo, CA, Crescendo has been a preferred service provider for over 30 years among colleges, universities, faith organizations, professional advisors and other nonprofit organizations.
Steven Jay Davis
Senior Director of Gift Planning
Wednesday June 24, 2026
Washington News
27 States Opt Into New Scholarship Tax Credit
The Internal Revenue Service (IRS) recently announced that 27 states have elected to participate in the new Federal Scholarship Tax Credit (FSTC) program created under the One Big Beautiful Bill Act (OBBBA).
Beginning January 1, 2027, individual taxpayers may be eligible to claim a federal income tax credit of up to $1,700 for cash contributions to qualified Scholarship Granting Organizations (SGOs). These organizations provide scholarships for elementary and secondary education expenses.
Taxpayers may claim the credit only for cash contributions made to SGOs located in states that have elected to participate and submitted a list of qualifying organizations to the IRS. States must submit an annual list of qualifying SGOs to the IRS for taxpayers to claim the credit for contributions made within that state.
The FSTC represents a new charitable planning opportunity that differs from traditional charitable deduction rules. Rather than providing a charitable deduction, the program offers a dollar-for-dollar federal tax credit for qualifying contributions, subject to the annual $1,700 limitation.
As of June 2026, more than half of the states have already opted into the program. Participating states as of June 8, 2026 include: Alabama, Alaska, Arkansas, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia and Wyoming.
Previous Articles
Free File Still Available for Non-Filers
Wednesday June 24, 2026
Washington News
27 States Opt Into New Scholarship Tax Credit
The Internal Revenue Service (IRS) recently announced that 27 states have elected to participate in the new Federal Scholarship Tax Credit (FSTC) program created under the One Big Beautiful Bill Act (OBBBA).
Beginning January 1, 2027, individual taxpayers may be eligible to claim a federal income tax credit of up to $1,700 for cash contributions to qualified Scholarship Granting Organizations (SGOs). These organizations provide scholarships for elementary and secondary education expenses.
Taxpayers may claim the credit only for cash contributions made to SGOs located in states that have elected to participate and submitted a list of qualifying organizations to the IRS. States must submit an annual list of qualifying SGOs to the IRS for taxpayers to claim the credit for contributions made within that state.
The FSTC represents a new charitable planning opportunity that differs from traditional charitable deduction rules. Rather than providing a charitable deduction, the program offers a dollar-for-dollar federal tax credit for qualifying contributions, subject to the annual $1,700 limitation.
As of June 2026, more than half of the states have already opted into the program. Participating states as of June 8, 2026 include: Alabama, Alaska, Arkansas, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia and Wyoming.
Previous Articles
Free File Still Available for Non-Filers
Donor Stories
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