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IDA Tax Credit

Home > Invest > IDA Tax Credit

IDA Tax Credit: A Special Thanks!With your contribution, we can help more hard-working families in Arkansas achieve financial security and the American Dream. 

How it Works
All donations to Southern Good Faith Fund are federally and state tax-deductible because we are a 501(c)(3) charitable organization. But by donating to our IDA program, you also qualify to apply for a special Arkansas Tax Credit of 50% of your total donation.

What is an IDA?
An IDA is a special savings account that helps low-income Arkansans save and invest in the American Dream. IDAs provide a powerful incentive by matching qualifying participants' savings with $3 for every $1 they save. Once they reach their savings goal and complete economic skills classes, our participants can use their savings to buy a home, start a business, or go to college. 

How to Receive a Tax Credit
The easiest way is to donate online using your credit card. Or complete and mail the form along with your contribution. We'll send a confirmation letter along with instructions for applying the IDA tax credit to your State of Arkansas taxes. 

A maximum amount of $100,000 in tax credits is available per calendar year, so it's important to apply early. 

If the tax credit program sells out before we receive your payment we will return it to you. To ensure this does not happen, call us at 870.535.6233 or e-mail us to reserve tax credits. 

The State of Arkansas IDA Tax Credit can help you do well while doing good.


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