As we step into 2025, advisors have a valuable opportunity to help clients maximize their tax benefits while making a meaningful impact on Jewish education. The Virginia Education Improvement Scholarship Tax Credit (EISTC) Program, offered through the Tidewater Jewish Foundation (TJF), allows donors to support students from lower- and middle-income families attending local Jewish day schools—all while receiving a 65% Virginia state income tax credit.

For example, a $10,000 donation may have a net after-tax cost of less than 25 cents on the dollar, making it a highly efficient philanthropic and tax strategy.

 

Donor Tax Benefit Illustration

Contribution Type	Amount
Donation (Cash, or FMV of Marketable Securities)	$10,000
Virginia EISTC (65% tax credit)	-$6,500
Federal Tax Savings (24% of $3,500 net)	-$840
Virginia Tax Savings (5.75% of $3,500 net)	-$201
Total Tax Savings	-$7,541
Net After-Tax Cost of $10,000 Donation	$2,459

Important Note: This illustration is for consideration only. We encourage all donors to consult their tax advisors for personalized advice.

Advisors can guide their clients toward strategic charitable giving that aligns with their financial goals while strengthening Jewish education in our community.

For more information, contact Naomi Limor Sedek at (757) 965-6109 or nsedek@tjfva.org, or Randy Parrish, CFO, at (757) 965-6104 or rparrish@tjfva.org.