Welcome
Welcome to the Summer 2008 edition of the Rhode Island Scholarship Alliance newsletter. As we enjoy the summer months, now is a great time to reflect on all the important things we have accomplished and to set our sights on our goals for next year.
As a strong coalition of school choice advocates, RISA is making significant progress in its efforts to promote educational opportunities for economically disadvantaged students through the Rhode Island Scholarship tax credit program. I am proud of what we have achieved this year and I hope you will take a few moments to read through our newsletter to learn more about the positive impact RISA is having on students and families throughout Rhode Island. Please
let me know if you have any questions or comments about the program - my e-mail is knagle@rischolarshipalliance.org, and my phone number is (401) 831-7472.
Have a happy and healthy summer!
-- Kate Nagle, Executive Director
RISA NEWS
OVER 250 RHODE ISLAND FAMILIES RECEIVE ASSISTANCE TO ATTEND SCHOOLS OF THEIR CHOICE
 Under the Rhode Island Corporate Scholarship Tax Credit Program, any family with a household income of 250% or less of the federal poverty level- approximately $50,000 for a family of four-is eligible to apply for tuition assistance. Awards typically averaged between $2000 and $5000 per student, and have allowed
a number of families to consider school choice options for the first time. Based on the criteria, there are over 90,000 families in Rhode Island who qualify for assistance.
A study released in April 2007 by the Friedman Foundation, "Education by the Numbers: The Fiscal Effect of School Choice Programs, 1990-2006," finds that school choice programs throughout the country generated nearly $444 million in net savings to state and local budgets from 1990 to 2006 while helping to consistently increase instructional spending per student in public school districts as well.
"Of the 12 voucher and tax-credit scholarship programs that began operations before 2006, every program is at least fiscally neutral, and most produce substantial savings," said Robert Fanger, Director of Communications for the Friedman Foundation. "Seven more programs have been created since 2006. We predict that Rhode Island's scholarship program will produce similar fiscal benefits for the local school districts."
The program allows eligible businesses to receive a tax credit in return for scholarship contributions, and reached its total of $1 million in approved tax credits for both fiscal years 2007 and 2008, as businesses could choose to make a two-year contribution commitment to maximize the amount of tax credit they can receive. As a result, no new applications can be considered until July 1, 2008.
"We are thrilled to have received such overwhelming support from the business community and such enthusiastic interest from families looking for school choice options," said RISA Executive Director Kate Nagle. "The strong first-year success of the program provides solid evidence of the need to expand the cap in order to allow more Rhode Island students to choose the school that's best for them regardless of geographic or economic limitations."
The program is administered by the Rhode Island Scholarship Alliance (RISA), which is comprised of school choice advocates and scholarship granting organizations (SGOs) working to promote educational opportunities for economically disadvantaged students. SGOs are charitable organizations representing two or more private schools established to administer tuition assistance grants to eligible students. Currently, there are four certified SGOs representing more than
60 private schools throughout the state.
Open initially only to C-Corporations, legislators approved an expansion of the program in the 2008 state budget to include S-Corporations, Limited Liability Partnerships (LLPs) and Limited Liability Corporations (LLCs).
More information for businesses and parents-including forms and a list of SGOs and participating schools is available at http://www.rischolarshipalliance.org or by contacting RISA at (401) 831-7472.
2009 & 2010 CORPORATE DONOR APPLICATION NOW AVAILABLE ONLINE
The fiscal year July 1, 2008 through June 30, 2009 business donation application is now available online on the Rhode Island Division of Taxation's website. Click here to go to the website.
STUDENT SPOTLIGHT
 Luis - 7th Grade, San Miguel School
Seventh grader Luis is now in his third year at San Miguel, and thinks he might want to be a lawyer or a FBI agent when he grows up. In the meantime though, he's got plenty going on at school to keep him busy - especially after-school at San Miguel, when there is something happening almost every day. There's scholars' club twice a week, chess club, and dance on Friday. On Saturdays, Luis is involved in "Young Heroes", which organizes volunteer activities
for students in the community (Luis likes this program so much he just so happens to be in the running for a perfect attendance award!). Thanks to scholarship assistance through the Rhode Island Scholarship Alliance, Luis is able to take full advantage of the all the educational opportunities available at San Miguel. His younger brother Brian, who is in the second grade now, wants to follow in his brother's footsteps and attend San Miguel too, when he is old enough.
QUOTE:
"San Miguel is just a wonderful learning environment for Luis. The teachers work closely with the families and really keep tabs on the students and help them grow. The Rhode Island Scholarship Alliance is doing a great service by giving students like Luis the chance to work towards reaching their potential.
- Evalinda Adames, Luis' mother
FIRST ANNUAL RISA CORPORATE DONOR THANK YOU BREAKFAST
On Wednesday, March 26th, 2008, RISA held its first annual "Corporate Donor Appreciation Breakfast" at the Providence Marriott, to thank our corporate donors and everyone who helped make the first year of the program such a success. Students, parents, and school representatives joined in the early morning celebration, and the Marriott fueled everyone with a big breakfast to get the day off to a great start.
Many thanks to Amica for generously underwriting the event, and to everyone who worked to together to make the morning - and first year of the program - memorable.
Community Preparatory School Head of School and RISA Board President Dan Corley and Community Preparatory students join in welcoming visitors to the breakfast.
Terry Allen, RISA Vice President, addresses attendees at the corporate donor breakfast.
A WORD FROM SOME OF OUR SPONSORS
Cayer Caccia, LLP
"Cayer Caccia believes choice in education is something that all families deserve, regardless of financial ability. Supporting the Rhode Island Scholarship Alliance allows us to help empower families to decide on the educational setting that best suits their needs, with the help of tuition assistance."
-- Gerard Cayer / Cayer Caccia, LLP
Amica
"Amica is proud to be able to give back to the community by contributing to the Rhode Island Scholarship Alliance. There is no greater investment than the education of our children, and what better way than to allow them to grow and thrive in the learning environment of their choice. This program will open new doors for many Rhode Island families, and Amica is thrilled to be able to contribute to their success."
-- Robert DiMuccio / President and CEO
FM Global
"At FM Global, we believe we have a responsibility to support the community around us. The Rhode Island Corporate Scholarship Tax Credit program is good for families in need, good for businesses and good for our state's long-term economic well-being."
-- Shivan. S. Subramaniam / Chairman and CEO
SUPPORT RISA
Would you agree that a quality education is one of the most important gifts that all parents want to give their children? Providing an education that gives every child the chance to succeed in life may be impossible for many low-income families who are unable to afford the schools that are best for their children
The success of the Rhode Island corporate scholarship tax credit program is due chiefly to the generosity of our invaluable corporate donors, who stepped up through their charitable donations to meet the $1 million tax credit cap and make school choice not just a wish, but a reality for families in need across the state.
But our work isn't close to being done. Based on the program criteria, a family of four with an income of less than 250% of the federal poverty level is eligible for scholarship assistance. There are currently 90,000 families throughout the state that qualify under the income guidelines - families who might want to choose the educational environment they feel is best for their child, regardless of income level.
This is where RISA comes in. We are the administrative and advocacy arm of the corporate scholarship tax credit program. We ensure effective implementation of the program, by assisting the schools and donors in meeting the proper state reporting requirements. In the current precarious state budget climate, we are here to protect and defend the program at the state house - and when the time is right, we will be poised to propose and lobby for
an increase in the tax credit cap, by providing a detailed analysis of the efficacy of the program as well as demonstrated interest from the business community. Perhaps most importantly, we work to get the word out about the program - through the press, our website, and our newsletters, to let more families know that we are here to assist them.
We understand that you are probably asked for support by many different groups in need, including the participating schools. We are asking for you to take a look at RISA and the ground-breaking work we are doing here in the state to help empower families to enable their children to reach their potential in the school setting that is best for them. We hope that you will be encouraged to make a donation to RISA, which is a non-profit, 501(c)(3) whose
goal is to ultimately provide school choice opportunities to any family seeking school choice options.
If you are interested in supporting RISA, please call 401-831-7472. Thank you. |
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