Donate and Take Credit(s)
You will receive generous tax benefits for your contribution.
METHODS OF GIVING
Donors may contribute to OSF either by check made out, and mailed to, the Opportunity Scholarship Fund; or by transfer of appreciated stocks and other marketable securities to an OSF brokerage account for conversion to cash.
If donating by check, download the appropriate adjacent form, and mail the completed form to OSF. If donating appreciated stocks or other marketable securities, have your broker download and follow the adjacent transfer instructions.
The OSF is not planning to offer an online donation capacity in 2017.
Those contributing by check will potentially enjoy three significant tax benefits. They are: state 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 taxes in Oklahoma is eligible to contribute to the Fund and receive tax credits. All donors making a single year donation are eligible for Oklahoma tax credits of 50% of the allowable donation amount. The amount of tax credits may not exceed $1,000 for individual filers, $2,000 for those filing jointly, and $100,000 for eligible business entities.
TAX BENEFIT CALCULATOR (BELOW)
Donors who pledge in writing (see adjacent form) to give the same amount for TWO years, will receive a 75% tax credit for BOTH years. The annual tax credit limitations apply. Businesses should read our FAQ and the text block on the calculator below.
This tax calculator assumes current federal brackets and a return that itemizes their income tax returns. The calculator ignores the small positive effect of the state charitable contribution deduction.
All donors (individuals, families and businesses) should always consult their tax adviser for their specific situation.
To see what your estimated tax advantages could be, enter your values below:
Select Donation Time Period
Enter Donation Amount (Each Year)
Enter Taxable Income
|Oklahoma Tax Credit|
|Federal Tax Deduction|
|Your Total Tax Benefit|
Your Annual Net Cost
Legal business entities, including subchapter S corporations, may earn up to $100,000 of Oklahoma tax credits annually. Businesses may make a one year contribution and earn credits at 50% of the donation amount - or make a two year commitment and earn credits at 75% of the donation amount for both years.
But the overall tax benefits of a gift are dependent upon many business factors of the organization and beyond the scope of this calculator. If you represent a business, please contact us and we will help customize your gift to meet your circumstances.
Businesses will use the same donor forms found on this page.