Education Freedom Tax Credit
Make a CAB Education Possible
Beginning on January 1, 2027, the Education Freedom Tax Credit (EFTC) will offer eligible taxpayers a federal tax credit for qualifying scholarship contributions—up to $1,700 for individuals, or $3,400 for married couples filing jointly, under the proposed rules.
You don’t have to live in New York to take advantage of the EFTC and help Chesterton Academy of Buffalo (CAB). U.S. taxpayers nationwide can participate in the Education Freedom Tax Credit by making a qualifying contribution through an approved scholarship granting organization and directing their support to CAB. Because this is a federal tax credit, your state of residence does not prevent you from participating.
This is a Tax Credit,
not a charitable tax deduction
What does that mean?
Tax Credit vs. Charitable Deduction
A tax credit reduces the tax you owe, dollar for dollar.
A charitable deduction reduces the income you are taxed on. The tax savings depend on your tax rate and whether you qualify for the deduction.
For example, a $1,000 credit can reduce your tax bill by $1,000. A $1,000 deduction at a 22% marginal tax rate would generally save $220, assuming the full deduction qualifies.
Credits and deductions each have eligibility rules and limits.
Count Me In For CAB
Let us know that you intend to support CAB students in 2027, or choose to receive updates while you learn more.
Here's How It Works
1. Give Through ACE Scholarships
Starting on January 1st, 2027, married couples filing jointly can give up to $3,400 to ACE Scholarships, designating Chesterton Academy of Buffalo as the recipient of your donation. Individuals can give up to $1,700.
2. Support CAB Students
ACE Scholarships will then redirect 100% of those funds to CAB in the form of scholarship money for students so that we can make a joyfully Catholic classical education accessible to even more students and families.
3. Claim Your Federal Tax Credit
Claim your eligible federal tax credit when you file your taxes, eliminating up to $3,400 of your federal tax burden if you are married filing jointly, or up to $1,700 if you are filing as an individual. The money that you donated in Step 1 goes right back into your pocket in the form of a dollar-for-dollar tax credit.
The potential for CAB
What difference could this make for our school?
If one married couple per student redirects $3,400 of their federal taxes to CAB, that results in
in funds rerouted from the federal government to CAB for tuition assistance.
If two married couples per student redirect $3,400 of their federal taxes to CAB, that results in
in funds rerouted from the federal government to CAB for tuition assistance.
If four married couples per student redirect $3,400 of their federal taxes to CAB, that results in
in funds rerouted from the federal government to CAB for tuition assistance.
With 40 students projected at CAB in 2027-2028, a relatively small network of participating taxpayers could have a transformational impact on our ability to make Catholic classical education accessible to families.