Qualified Foster Child Support Organization Contributions Reporting Requirements

Each qualified foster child support organization shall annually submit Form IT-QFCD-FUND2 to the Department of Revenue no later than May 15 of each year.

Each qualified foster child support organization must provide on the IT-QFCD-FUND2 the following:

  1. The total number and dollar value of individual contributions and tax credits approved. Individual contributions shall include contributions made by those filing income tax returns as a single individual or head of household and those filing joint returns;
  2. The total number of dollar value of corporate contributions and tax credits approved;
  3. The total number and dollar value of all qualified expenditures made; and
  4. A list of contributors, including the dollar value of each contribution and the dollar value of each approved tax credit.

O.C.G.A. Section 48-7-29.24 requires each qualified foster child support organization by April 1 of each year to publicly post on its website in a prominent place a copy of its prior year's annual budget containing the total amount of funds received from all sources relative to the amount of qualified contributions it received and the total amount and a description of how such contributions were utilized.

A qualified foster child support organization that fails to comply with the reporting requirements shall be given written notice by the Department of Revenue of such failure to comply and shall have 90 days from the receipt of such notice to correct all deficiencies. 

Upon failure to correct all deficiencies within 90 days, the Department of Revenue shall revoke the organization's status as a qualified foster child support organization and such organization shall be immediately removed from the Department of Revenue's list of qualified foster child support organizations. All applications for preapproval of tax credits for contributions to such organization made on or after the date of such removal shall be rejected.