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How it Works

Filling Out Tax Form

A New Category for Giving

Support Students In Need At No Cost

Did you know as a taxpayer in the state of Ohio, you may be able to make a gift that supports quality education for students from low-opportunity neighborhoods at no cost to you?

Here’s how:

The state of Ohio’s new Scholarship Granting Organization (SGO) tax credit authorizes donors who contribute to K-12 student scholarships through a certified SGO to receive a dollar-for-dollar tax credit, up to $750 per individual taxpayer, assuming they have an equivalent tax liability.

  • How does the tax credit work?
    Your Columbus Opportunity Scholarship Fund donation can be claimed when you file your Ohio taxes for the year in which you make your gift. The credit is a dollar-to-dollar reduction in your state tax liability up to $750 per taxpayer. A married couple filing jointly can make two gifts and claim a credit of up to $1,500. You must have an Ohio tax liability equal to or greater than the amount of the credit. We strongly recommend consulting with your tax professional to determine the appropriate gift based on your state tax liability.
  • Is the SGO Tax Credit right for me?
    Some individuals do not owe the state any income tax; others owe less than $750. For example, college students generally don’t earn enough annual income to owe state income tax. Individuals who don’t have tax liability but donate to the SGO will not receive a refund from the state. (However, such a gift would still qualify as a standard charitable deduction.) Before you donate to the SGO, please check your taxable income and how much you will likely owe the state this tax year. Ideally, you should consult with a tax expert. If you’re confused about your eligibility and do not have access to a tax professional, we do not recommend taking part in the tax credit opportunity.
  • Can I make a gift greater than $750? Less than $750?
    Yes. The first $750 will be granted a $750 state tax credit, and the amount of the gift beyond the initial $750 may be claimed as a federal and state tax deduction. Likewise, you can give a gift of less than $750 and still receive the dollar-for-dollar match if that better corresponds to your personal tax liability. Consult with your tax specialist to review your specific tax situation. In the meantime, find more information at: www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions.
  • May I designate my gift to fund scholarships at a specific school?
    Yes, you may select at which participating school (Harambee Christian School, Akili Christian High School) you would like your gift to fund a scholarship.
  • May I split my gift among multiple schools?
    Yes. Giving to the General Fund will support students from both schools.
  • Can my spouse and I receive separate tax credits if we joint file our taxes?
    Yes. The tax credit is on a per-individual taxpayer basis. Married couples can receive up to two separate $750-deductions, totaling $1,500. To receive the maximum credit, spouses must make TWO SEPARATE $750 donations, one in each of their names. A single $1,500 will only return a single $750 tax credit.
  • Is COSF SGO certified by the state of Ohio as an approved SGO?
    Yes, COSF SGO is certified by the Ohio Attorney General. You may view the list of certified SGOs here.
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