GOAL Announces Updated Program Results for 2016
Georgia GOAL Scholarship Program, Inc. ("GOAL"), the largest K-12 student scholarship organization ("SSO") operating under Georgia's Education Expense Credit law has announced its updated 2016 contribution and scholarship award results.
• 9,953 Georgia taxpayers contributed a total of $16,196,791 to GOAL (this number is after DOR proration of $53.36%, due to overwhelming taxpayer demand).
• Of the 2016 contributons, 54% came from individuals, 34% came from individual owners of pass-through businesses, and 12% came from corporations.
• Since the inception of the program in 2008, GOAL has received $118,698,395 in contributions, which represents an estimated 32% of the approximately $327.9 million contributed statewide under the K-12 tuition tax credit program.
• Through 2016, GOAL has awarded 25,448 scholarships worth $93.5 million to 11,230 students, with an additional $24.8 million being obligated and reserved for the funding of multi-year scholarships that have been awarded or for the awarding of future scholarships.
• The average value of the scholarship awarded to each student has been $3,675, with the balance of tuition costs being paid by scholarship families together with other financial aid provided by the participating private schools.
• Since inception, the average adjusted gross income ("AGI") of the scholarship recipient families (as adjusted for family size) has been $26,483.
• GOAL has awarded over 50% of its scholarships to families with an AGI of less than $24,000 and 90% of its scholarships to families with an AGI of less than $48,000.
• 44% of GOAL scholarship awards have been provided to minority recipients.
• GOAL has awarded 3,004 scholarships in north Georgia; 9,652 scholarships in metro Atlanta; 6,386 scholarships in central Georgia; and 6,406 scholarships in south Georgia.