What Are Tax Credit Scholarships?
Tax-credit scholarships, sometimes called scholarship tax credits, are different from other school choice programs, such as school vouchers. What sets them apart? Tax credit scholarships uses only privately donated money, whereas vouchers reach into state coffers, and the scholarships can be sought at any participating school. To learn more about how tax-credit scholarships work, watch this video that was produced by the Friedman Foundation for EdChoice in Indianapolis, IN.
Donate to OSF and Take Tax Credit(s)!
You will receive generous tax benefits for your contribution.
METHODS OF GIVING
Donors may contribute to OSF by check, appreciated stock, or ONLINE!
CHECKS:
Please set up your donor account via our donor portal and indicate that you prefer to send a check for your donation. Make the check payable to the Opportunity Scholarship Fund. Mail to OSF Attn: Gift Processing, 1831 East 71st Street, Tulsa, OK 74136
Important:
Checks mailed to the Opportunity Scholarship Fund (OSF) must be POSTMARKED by December 31. The OK Tax Commission (OTC) requires Tax Credit Scholarship Programs (like OSF) to report donations on January 10, of the following year.
APPRECIATED STOCK
Please set up your donor account via our donor portal and indicate that you prefer to transfer appreciated stocks or other marketable securities to an OSF brokerage account for conversion to cash. Donation amount will be provided, after shares are received.
Important:
Your broker should transfer your marketable stocks, bonds, and mutual funds to: LPL Financial, DTC #0075, FBO of Opportunity Scholarship Fund, Acct. #5168-1056
GENERAL BENEFITS
Donors will potentially enjoy three significant tax benefits. They are: state income tax credits, federal charitable contribution deduction, and state charitable contribution deduction. For those transferring appreciated stock and other marketable securities, there is a fourth benefit. Your gift will also be exempt from capital gains tax!
TAX BENEFIT DISCUSSION
Any individual, family or business entity paying income taxes in Oklahoma is eligible to contribute to the Fund and receive tax credits. When donors give to OSF they receive additional financial benefits beyond a tax deduction. Under the program, donors receive an OK income tax credit equal to 75% of the donation with a 2-year pledge or 50% tax-credit for a 1-year donation. Tax credits are available to both individuals (up to $2,000) and businesses (up to $100,000).
TAX BENEFIT CALCULATOR (click here for calculator)
This tax calculator assumes current federal brackets and a return that itemizes their deductions on income tax returns.
All donors (individuals, families and businesses) should always consult their tax adviser for their specific situation.
