Georgia has taken a significant step to support teenagers transitioning out of the foster care system by allocating millions of dollars through the State’s Qualified Foster Care Donation Credit.
This innovative tax credit program allows taxpayers in Georgia to redirect their tax dollars to provide assistance to young individuals who are transitioning from foster care
Allison Ashe, President and CEO of Well Root Family Services, expressed her appreciation for the initiative, stating, “It really says our state legislatures are paying attention to what’s happening to young people in care.” Ashe emphasized the critical role of these funds in preventing poverty and homelessness among this vulnerable population. Well, Root Family Services is a facility that offers support services for youth aging out of foster care.
Disturbing statistics highlight the urgency of this program. The Atlanta Mission reveals that 20% of foster children become homeless immediately after aging out of the system, while the Annie Casey Foundation Kids Count Data Center reports that one in five is incarcerated by the age of 19. Anika Steed, a former foster child, shared her personal experience and credited the transitional support she received from Wellroot for helping her avoid becoming a statistic. She recalled, “That was the best decision I ever made. I was facing homelessness, and I didn’t know what to do.”
Under the tax credit program, donors will receive a dollar-for-dollar tax credit
Single taxpayers can contribute up to $2,500 annually, while married couples can contribute up to $5,000. Businesses, including LLCs, S Corps, and large corporations, can also apply for this tax credit, with annual contribution limits of $5,000 for LLCs and S Corps and 10% of their annual income for large corporations.
Wellroot, with its goal to support youth leaving foster care and entering adulthood without family support, plans to utilize these funds to expand the capacity of its Transitional Living Program. This expansion will enable them to provide critical services such as life skills training, tutoring, and career development. Ashe expressed her hope that people will respond to this pivotal moment for the child welfare system.
Currently, there are 20 foster support programs benefiting from this tax credit, further demonstrating the broad impact of this initiative.
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