Fostering Success Act, Inc. (FSA), a non-profit that raises tax credit funds to assist young adults transitioning out of the state’s foster care system, announced today it has successfully raised nearly $10 million in tax credit allocations in its first year that ended Dec. 31, 2023.
Among the top corporate contributors to FSA for 2023 are Gas South, Waffle House, and Cigna Healthcare.
Data from numerous national studies show the majority of kids who age out of foster care end up homeless, in chronic poverty, in jail or are victims of human trafficking. They face these enormous challenges because they were removed from their parents’ custody due to neglect or abuse.
Since the launch of the program, more than 180 companies and individuals have chosen to help Georgia’s most vulnerable young people by allocating their tax dollars to FSA. As a result, FSA has issued funds to help more than 100 young people pursue their dreams at 37 universities and technical colleges across the state.
“These funds will go a long way to make sure many of these kids who have left foster care can pay rent, have food to eat, afford to get to work — and most importantly — be able to enroll in college or a technical school so they can find a good-paying job,” said Richard L. Jackson, chairman of FSA. “This tax credit will change the trajectory of their lives.”
Other major donors to FSA include Artistic Weavers, CA South, Colony Bank and Kilpatrick Townsend & Stockton LLP.
The state Department of Revenue has approved FSA for $9.7 million of the $11.6 million in approved donations for the new foster care tax credit in 2023.
The credit enables individuals and corporations to reduce their state income tax burden by donating to FSA or other qualified organizations that assist the more than 700 youth who age out of Georgia’s foster care system each year.
“These kids don’t have parents to help them get on their feet, and FSA will make sure they transition into…
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