FACE of RI FAQ

Who benefits from the tax credit?  Rhode Island kids

2,100 students attending Rhode Island Catholic Schools qualify to receive a need based scholarship. To be eligible, families of school-age children (K-12) must have an annual household income of no more than 250% of the federal poverty level.

Even with additional efforts like this and the Anchor of Hope Fund, 89% of the total financial need of students attending Catholic schools cannot be met. We are hopeful that FACE will be able to receive an abundant amount of contributions.

How do Catholic Schools help the bottom line for cities and towns?

Catholic Schools save Rhode Island taxpayers over $300,000,000 per year in salaries, benefits and capital costs. Working with the leaders of other private schools in Rhode Island, it is our hope that Rhode Island corporations support this tax credit. FACE of Rhode Island represents 43 Catholic elementary and secondary schools.

How does the Tax Credit work?

Contributions to FACE (up to $100,000) qualify for a 75-90% tax credit. The program has a total tax credit cap of one million dollars. Businesses can elect either a one or two-year contribution commitment, thereby maximizing their tax credit benefit.

What businesses are eligible to participate?

C-corporations, S-corporations, Limited Liability Partnerships, and Limited Liability Corporations are all eligible to participate in a tax credit for FACE of Rhode Island.

How Can Eligible Businesses Participate?

Applications are vetted through the Director of FACE and then submitted to the State Department of Taxation on July 1st. Tax credits will be issued on a first come, first serve basis. For more information on the process, please call Gena E. Bianco, J.D. the Director of FACE at 277-2121 or email, gbianco@dioceseofprovidence.org.