The tax incentives for donations to non-profit educational initiatives have a positive impact on educational innovations and equal opportunities.
The new donation incentive is a sustainably invested money for the public sector. Because every young person who does not make the leap into further training costs the state up to 19,000 euros per year, a total of almost 500 million euros. The corresponding tax loss due to the introduction of preferential donations is estimated at 8 to 19 million euros per year. Especially in times of economic uncertainty, we must do everything we can to give young people career prospects.
Matthias Lovrek, founder and CEO at Sindbad
Vienna (OTS) – The new regulations regarding donations will come into force on January 1, 2024. This means that donations to nonprofit educational initiatives are now finally tax deductible. This leads to long overdue equal treatment in the donations market. According to estimates by eco Austria, the education sector can expect up to 30 million euros in additional donations.
For “Sindbad – Mentoring for Young People”, the new regulation offers the opportunity to increase the capacity in accompanying socio-economically disadvantaged young people from compulsory school into further education from currently around 500 per year to 1,000. The increasing need in the target group can be covered by additional donation income of an estimated 1.25 million euros.
Matthias Lovrek, founder and CEO at Sindbad: “The new donation incentive is a sustainably invested money for the public sector. Because every young person who does not make the leap into further training costs the state up to 19,000 euros per year, a total of almost 500 million euros. The corresponding tax loss due to the introduction of preferential donations is estimated at 8 to 19 million euros per year. Especially in times of economic uncertainty, we must do everything we can to give young people career prospects.
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Sindbad is committed to equal opportunities for young people with socio-economic disadvantages. 13- to 19-year-old students in the 9th grade of a middle school (MS) or polytechnic school (PTS) become students and young professionals between the ages of 20 and 35 as mentors for 12 months :set aside inside. Each student (mentee) gets a personal mentor to think about future planning together and take concrete steps on their training path. The mentoring team works together to successfully enter secondary school or an apprenticeship. In the past seven years, a total of almost 4,000 young people have been able to take part in the program.
Questions & Contact:
Sindbad – Mentoring for young people Austria:
Jakob Herzog, public relations, jakob.herzog@sindbad.co.at, +43 670 555 5411