McMahon Parater Scholarship Foundation
McMahon-Parater Foundation for Education is the approved scholarship foundation for Catholic schools in the Catholic Diocese of Richmond under Virginia's Education Improvement Scholarships Tax Credits Program. It is the largest foundation in the program: in fiscal year 2025 (July 2024 to June 2025), the Virginia Department of Education reported $3.38 million in tax credits issued for donations to McMahon Parater and 1,331 scholarships awarded.
- Tax-credit scholarship organization
For families
Families apply for Catholic school tuition help through the foundation and their school. Students must meet Virginia's income limit (300% of the federal poverty level, or 400% for students with disabilities) and the program's prior-school rules.
For donors
Gifts of $500 or more can earn a Virginia tax credit worth 65% of the donation after VDOE preauthorizes the gift. Individuals can claim up to $81,250 in credits a year; the statewide cap is $25 million and credits are first come, first served.
About McMahon Parater Scholarship Foundation
- States served
- Virginia
- Who it serves
- Income-eligible students attending Catholic schools in the Diocese of Richmond, which covers central, southern and western Virginia and Hampton Roads.
- Programs
- Virginia Education Improvement Scholarships Tax Credits Program
- Last checked
- Oct 13, 2026
Profile compiled from the organization’s site and official state lists. Each SGO sets its own rules and decides every application.
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