On February 15, the Oklahoma Tax Commission (OTC) notified taxpayers that, based on their calculations, the tax…
OKLAHOMA CITY (February 2, 2018) – Three Oklahoma families now have $15,000 scholarships for their child to…
Organization Reaches $10 million milestone in less than four years OKLAHOMA CITY (Jan. 26, 2017) – More…
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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? The differences are way they are funded, and the allowed used of the money. To learn more about how tax-credit scholarships work, watch this video that was produced by the Friedman Foundation for Educational Choice of Indianapolis.
Another great video was locally produced by Jan Boomer at the Wesleyan Christian School in Bartlesville. Click here to watch.
To learn more about School Choice, explore the Friedman website. To learn more about Education Savings Accounts, read this January 2016 issue of the OCPA Perspective.
Our Oklahoma Program
The Opportunity Scholarship Fund is a scholarship granting organization providing life-changing opportunities to low-income students who would not normally receive a pathway to specialized education. OSF offers scholarship help to students in grades K-12, with an emphasis on lower and middle-income Oklahoma families. Students and families have more affordable education options with accredited private schools through our scholarships. Participating donors and sponsors are eligible for generous Oklahoma tax credits and charitable contribution deductions when taxpayers itemize their deductions.
Our program accommodates special-population students and younger students with special educational challenges.
Explore our website and discover how you may benefit from this innovative program.
Oklahoma is one of 18 states with a tax-credit scholarship program. Under Oklahoma’s program, a tax credit of 50 percent is offered for donations to a SGO, and a 75 percent tax credit for equal pledge amounts for two consecutive years. Credits are capped at $100,000 for qualified business entities, $2,000 for taxpayers filing a joint tax return and $1,000 for individual tax filers.
Tax-credit scholarships save Oklahoma money. Considering the state’s share of per pupil expenditures, the fiscal return to the state is $1.24 saved for every $1 in tax credits claimed.
Download the full text of the bill that created our program – and specifications of the OSF program – from our FAQ page.