The Opportunity Scholarship Fund was created in Oklahoma to provide scholarships for students attending accredited private schools. OCS is a participating school, allowing the creation of need-based tuition assistance for qualifying students. Donors to this program may be eligible to receive up to a 75% Oklahoma tax credit for donations, in addition to normal Federal and State charitable tax deductions. Through this program, donors can re-direct tax dollars and choose to help fund the Christian education of deserving students.
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 scholarship granting organization, or SGO, and a 75 percent tax credit for equal amounts pledged for two consecutive years. Income tax 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.