The document discusses the Community Contribution Tax Credit Program in Florida which provides tax incentives for businesses to donate to eligible community programs. It specifically focuses on promoting donations to the Jacksonville Alliance for KIPP Schools. KIPP is a national network of free public charter schools that opened two schools in Jacksonville in 2010 and 2012 and aims to grow to 5 schools by 2017. The tax credit program provides up to a 50% tax credit for business donations to approved community sponsors like KIPP Schools.

1. The Community Contribution Tax Credit Program -
Putting tax dollars to work for students!

2. KIPP = The Knowledge is Power Program
Started in 1994, KIPP is a national network of free, open-enrollment, college
preparatory public schools dedicated to preparing students in undeserved
communities for success in college and in life.
KIPP = Success!
There are now 141 KIPP schools nationwide serving more than 50,000 students
in 20 states and the District of Columbia. Nationwide, KIPP alumni graduate
college at four times the rate of their low-income peers.
KIPP in Jacksonville
KIPP Impact Middle School opened in August 2010 and is the highest ranked
middle school in NW Jacksonville. KIPP VOICE Elementary opened in August
2012 and our students are already among the highest performing in the national
network. Both schools are located at our 1440 McDuff Ave. N campus.
We plan to grow to 5 KIPP schools by 2017.
What is KIPP?

3. Through the Community Contribution Tax Credit Program –
you can make a donation to Jacksonville Alliance for KIPP Schools
and the majority of your donation will be offset by a state tax credit.
How your company can help us grow:
Our new gym, under construction.

4. Who can use it?
 Businesses anywhere in Florida that are subject to:
 Florida Corporate Income Tax
 Florida Insurance premium Tax
 Florida Sales Tax Refund
Who may receive donations?
 Eligible sponsors that are conducting an approved community development
project - including The Jacksonville Alliance for KIPP Schools.
What is the Community Contribution Tax Credit?
The Community Contribution Tax Credit (CCTC) provides a financial incentive (up
to 50 percent tax credit or sales tax refund) to encourage Florida businesses to
invest in community development and housing projects for low-income persons.

5.  The annual amount of credit granted is limited to $200,000 per
company
 $3.5 Million of total tax credits are available
 If tax credit applications exceed $3.5 million, tax credits are
applied pro-rata (last year’s pro-rata share was 80.2%)
 A 5-year carry forward provision is available for any unused
portion of the corporate income tax credit or insurance premium
tax
 Sales tax refunds are available for up to 3 years after the first
application
How does CCTC work?

6. $50,000 FL Corporate Income Tax Credit (50%)
5,500 FL Corporate Income Tax Savings (5.5%)
15,575 Federal Corporate Income Tax Savings (1)
$71,075 Total Estimated Tax Savings
Net out-of-pocket cost of $28,925
(1) = ($100,000 – 50,000 – 5,500) x 35%
On a $100,000 Donation:
Big impact, little out of pocket cost

7. $40,100 FL Corporate Income Tax Credit (50% * 2013 pro-rata share of 80.2%)
5,500 FL Corporate Income Tax Savings (5.5%)
19,040 Federal Corporate Income Tax Savings (1)
$64,640 Total Estimated Tax Savings
Net out-of-pocket cost: $35,360
(1) = ($100,000 – 40,100– 5,500) x 35%
On a $100,000 Donation:
Big impact, little out of pocket cost
(a pro-rated example)

8. KIPP Middle school students visiting FIS
corporate offices - one of our CCTC partners
Next Steps?
Make a donation:
Checks should be made payable to Jacksonville Alliance for KIPP Schools
Then:
1. Complete Form 8E-17TCA#01
http://www.floridajobs.org/Community/CCTCP_Application.pdf
2. Attach a copy of your check and get receipt from us
3. Send completed form to the Office of Tourism, Trade and Economic
Development between July 1 – 15

9. Contact info:
Kim Grant
Director of Development
KIPP Jacksonville
kgrant@kippjax.org
Office: 904-683-6643 x150
Cell: 610-348-5065
Thank you for your consideration!
For more detailed program information, please visit:
http://www.floridajobs.org/business-growth-and-partnerships/for-businesses-and-
entrepreneurs/business-resources/community-contribution-tax-credit-program

10. CCTC Participants:
• Acosta
• Brumos Motors
• Everbank
• FIS
• CSX
• Swisher
• Jacksonville Greyhound Racing
“Thank you!”