OKLAHOMA CITY (June 1, 2017) – The Opportunity Scholarship Fund is celebrating the passage of Senate Bill 445 sponsored by Sen. Newhouse, R-Broken Arrow. SB445 raises the cap on tax credits for private donors and provides protections to ensure current donors receive all the tax-credits they have earned.
“We applaud the state legislature for recognizing the value these scholarships provide to families in need,” said Rob Sellers, executive director of the Opportunity Scholarship Fund. “These donations are vital in ensuring families can provide the best education possible to their children, especially those who have learning differences or need smaller class sizes to perform.”
The scholarship program is funded by private individual and business donations. Donors receive state income tax credits of 50 to 75 percent depending upon the contribution made by the donor.
These private donations for Oklahomans allow low- and middle-income families access to affordable education options for their children to attend accredited private K-12 schools in Oklahoma.
“One of the best ways to enrich a child’s life is through a great education,” said Charlie Daniels, board president of the Opportunity Scholarship Fund. “We have distributed over $2 million in scholarships through our member schools in our quest to provide opportunities for educational choice to Oklahoma families.”
The Opportunity Scholarship Fund helps administers the scholarships in the Oklahoma Equal Opportunity Scholarship Act program for its 56 member schools in the state. Recipients are selected by the member school’s financial aid committee and funded through donations to the Opportunity Scholarship Fund.
About Opportunity Scholarship Fund
The Opportunity Scholarship Fund (OSF) is a 501(c)(3) charitable organization helping promote and manage the Oklahoma tax-credit scholarship program. Students qualify based on standards established by individual member school’s financial aid criteria and meet the requirements established by the Oklahoma Equal Opportunity Education Scholarship Act. Established in late 2014, OSF is the premier scholarship granting organization in Oklahoma.