Monsignor Lafferty Tuition Foundation reaches goal of nearly $3 Million
Monsignor Lafferty Tuition Foundation (MLTF) is proud to announce that the 2016 fundraising goal of $2,939,833 has been met. The funds will be used to support need-based tuition assistance to qualifying students within the Diocese of Sioux City for the 2017-2018 school year. The Diocese of Sioux City has seven Catholic high schools and sixteen grade schools with more than 6,100 students.
The Monsignor Lafferty Tuition Foundation is a charitable 501(c)(3) organization representing all of the Catholic K-12 schools in the Diocese of Sioux City. MLTF raises funds to assist families whose income is at or below 300% ofthe poverty level, providing them with need-based tuition assistance. There are twelve Student Tuition Organizations (STOs) in Iowa with a total of $12 million in tax credits available for 2016.
“The tuition dollars will go to families who want a Catholic education for their children but may have a difficult time affording it. In total, we have raised over $23 million in tuition assistance dollars over the past ten years. We are very proud of this unique program,” said Kristie M. Arlt, director of communications and development for the Diocese of Sioux City.
Contributors to MLTF receive an Iowa income tax credit equal to 65% of their donation, thus reducing their Iowa income tax obligation in the amount of the tax credit received. The donation may also qualify for federal income tax deductibility.
“It is amazing how many people have responded to donating to these STO programs. We had over 700 donors give to MLTF this year, the generous support of our donors makes an incredible difference to families and our schools,” said Arlt.
Dr. Dan Ryan, superintendent of Catholic Schools for the Diocese of Sioux City says these tax credits mean a great deal to families, “The program goes a long way in respecting Iowa parents’ right to direct the education oftheir children by choosing the educational environment that best meets their child’s needs. The program is a win-win for all.”
Specific information about the 2017-2018 tuition grant application process for families who wish to apply for assistance will be made available via Diocesan Catholic Schools and online at www.scdiocese.org after February 1,2017. Those seeking MLTF tax credits for 2017 may purchase them beginning January 1,2017. The 2017 goal for MLTF is $2,895,203 as allowed by Iowa law.