Some 700 children a year age out of the foster care program every year in Georgia. For those who have yet to be adopted, making the transition into adulthood can be a daunting task as they face it largely alone.
A tax credit program that launched this year aims to support these young people and a new non-profit has launched to guide that support.
Fostering Success Act, Inc. is the straightforward name of the nonprofit to help Georgians contribute to a $20 million state tax credit program that can help to reduce an individual tax burden while supporting young adults from the foster care system.
“This is a great opportunity for any Georgia taxpayer – individual or corporation – to designate where their tax dollars are spent,” said Heidi Carr, executive director of Fostering Success Act, Inc. “If you can write a check to this tax credit and virtually wipe out your entire state tax burden for the year, why would you pass it up?”
Single individuals can contribute up to $2,500 per year, married couples $5,000 and corporations can also contribute up to 10 percent of their annual tax liability. However, as of July 1, with the $20 million cap still falling short, would-be donors can increase their contributions after applying through the state granting agency. Applications are accepted on a first come basis (the process can be started through the non-profit’s website here).
The money raised through the program goes to “wraparound” services, such as housing, food and transportation. These services are provided by qualified foster child support organizations through a grant process. The idea is to provide enough cushion for these young adults to attend college or technical school and be able to live on their own.
“If we can get these young adults back on track to getting an education or in job training, they can instead become productive citizens of our state,” Carr said.
The statistics for this group are grim – according to the non-profit, 37 percent will experience homelessness, 81 percent of boys will spend time in jail, 71 percent of girls will become pregnant within a year and an eye-popping 97 percent will end up in “chronic poverty or worse.” Additionally, 70 percent of human trafficking victims have reported a history of once being a foster child. Across the country, 55,000 young adults age 18-24 become homeless every year, an estimated cost to society of $89 billion – about $40,000 in additional community programs per individual every year.
“Through the Fostering Success Act, Inc., we will be able to do more to reduce poverty, homelessness and despair than any program ever before,” Carr said.
Richard Jackson is the chairman of the non-profit, in addition to the chairman and CEO of Jackson Healthcare. Jackson himself entered the Georgia foster care system when he was 13 years old and remained their until he aged out at 18.
“As a young person, I was blessed to have both known and anonymous individuals like you provide me with support and opportunities at critical times. Together, let’s make this type of support the norm,” said Jackson. “Your support of Fostering Success Act, Inc. will be given back to you in a 100% credit through your Georgia income taxes. More importantly, your funds will directly support the education, training, housing, food, transportation, healthcare, mental health, and other necessary living expenses of our local foster youth.”
