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NEW SCHOLARSHIP GRANTING ORGANIZATION HELPS TAXPAYERS AND STUDENTS

Home » All-School News » NEW SCHOLARSHIP GRANTING ORGANIZATION HELPS TAXPAYERS AND STUDENTS

WC partnering with Ohio Christian Education Network on new initiative.

Beginning this spring, taxpayers have a cost-free way to make a significant contribution to the students at Worthington Christian School. Thanks to Ohio’s new state tax credit, individuals who contribute to the Ohio Christian Education Network’s (OCEN) Scholarship Granting Organization (SGO) can receive a dollar-for-dollar state tax credit for up to $750. Furthermore, you may designate your gift for WC students only.

Background

The Ohio Christian Education Network’s Scholarship Granting Organization is a 501(c)(3) entity certified by the Ohio Attorney General that serves OCEN’s member schools like WC. Ohio law permits each taxpayer to claim a state tax credit up to $750 per individual or $1,500 per married couple filing a joint tax return. All funds designated for a school, less the nine percent administrative fee, will go directly toward student scholarship at that school. In collaboration with OCEN SGO, WC will award scholarships toward reducing a family’s tuition. The scholarship amount will vary depending on the total gifts received and the number of families that apply. The OCEN SGO is an additional source of financial aid for families. It does not replace WC’s existing financial aid programs funded, in part, with charitable gifts, including the Adopt-A-Student program.

How it Works

  1. Visit the SGO website to contribute. Be sure to select Worthington Christian School in the drop-down menu so that your contribution is designated for scholarships at WC. OCEN will provide you with a gift receipt.
  2. For gifts up to $750, you will receive a dollar-for-dollar state tax credit to use during the current tax year. In other words, assuming that you have an equivalent Ohio tax liability, you will receive 100 percent of your contribution back when you file your taxes for the year. The students at WC receive the benefit of your gift at essentially no cost to you.
  3. 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.
  4. All gifts received in 2022 are eligible for credit on your 2022 state taxes. Gifts prior to June 1 will benefit students in the 2022-23 school year. Gifts received after June 1 will be applied toward 2023-24 student scholarships.

We encourage you to speak with your tax professional to learn if contributing to the OCEN SGO is suitable for you and your family. Answers to frequently asked questions can be found by visiting the OCEN SGO website.

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