The Children’s Promise Act tax credit, passed by the Legislature and
signed by the Governor in 2019, provides a tax credit for donations to
an Eligible Charitable Organization (ECO) or an Educational Services
Charitable Organization (ESCO).

      From the available funds, an individual is allowed a tax credit of up
to $1,000 filing jointly ($500 single). A business is allowed a tax credit
for up to 50 percent of its tax liability.

      To make sure your gift is eligible for the full tax credit, an
application for certification of the credit must be completed with the
Mississippi Department of Revenue. The gift will be certified within 30
days based on the funds available in the credit fund. The certification
will be submitted with the state tax return to receive the credit. ACT
NOW! There is a limited amount of tax credit money available each
calendar year.

      Allocations are on a first come, first served basis based on the
time and date the application is received by the Department. The
Department will begin accepting applications for the 2022 calendar
year on Saturday, January 1st, at 12:00 AM CST by email only. The
Department will not be responsible for any technological problems
preventing an e-mail from being delivered. E-mailed applications should
be sent to contributiontaxcredit@dor.ms.gov. Since the Department is
closed on January 1st and has no way to accept physical applications
until January 3rd, applications by hand delivery or mail will be accepted
beginning January 3rd at 8:00 AM CST.

      The intent of the Children’s Promise Act is to provide much-needed
assistance to Mississippi’s foster care systems and providers
of educational services to disadvantaged students. Most non-profit
501(c)(3) schools should qualify as beneficiaries under the program. A
complete list of Educational Services Charitable Organizations (ESCOs)
can be found on the Mississippi Department of Revenue’s website.

Eligible Charitable Organizations (ECOs) listed by the Department
currently include: