December 04, 2015
Scholarship Data Filed with DRA Form ED-05 Show NEO & GGA Awarded 128 Financial Need-Based Scholarships Totaling almost $200,000
Concord, NH - The Network for Educational Opportunity (NEO) and the Giving and Going Alliance (GGA) – the state's two operating scholarship organizations -announced today that they have filed the 2015 ED-05 form with the state Department of Revenue Administration (DRA), in compliance with the education tax credit law that makes education choice more accessible in the Granite State.
To parallel its filing with DRA, NEO is also publishing the following snapshot of the DRA reported data - the 2015 scholarship contribution and award results.
Under the New Hampshire Education Tax Credit Law, corporations that contribute to state approved, tax-exempt, non-profit SOs between January and June of each year can be approved by the NH DRA to offset 85% of their contributions against their state business tax liability (BET or BPT).
SOs like NEO use contributions they raise to provide scholarships to students enrolled in public school who desire to (1) attend a private school, (2) attend an out-of-district public school of their parents’ choice, or (3) for homeschooling expenses. SOs may also award scholarships to school-aged students with household incomes of 300% of the federal poverty guideline or below, whether they currently attend a private school, an out-of-district public school, or home school.
Highlights of the 2015 ED-05 already filed with DRA include the following data:
· The Program awarded 128 financial need-based scholarships totaling almost $200,000 to highly deserving children under the NH Education Tax Credit program.
· Approximately 70% of the scholarship recipients qualified for free or reduced priced lunch.
· Scholarships were awarded based on highest financial need within the metrics provided in the New Hampshire Education Tax Credit law.
· The average scholarship awarded to each student recipient - both private schooled and homeschooled - was $1,527 with the balance of tuition costs being paid by scholarship families together with other financial aid provided by private schools.
· The average value of the homeschool scholarship awarded was $317 and NEO awarded 20 scholarships to high-need families for homeschooling materials.
· 1,000-plus children applied for scholarships showing a clear need among New Hampshire families to receive scholarships and the opportunity for NEO to grow to assist many more children in the years to come.
· Scholarship awards from contributions to NEO resulted in children attending schools with better educational settings and outcomes.
For more information about the Network for Educational Opportunity and its scholarship program visit www.networkforeducation.org