About Opportunity Scholarship Fund
The Opportunity Scholarship Fund is a Scholarship Granting Organization that provides scholarships to Oklahoma K-12 students to attend accredited private schools in our state.
Once a student has received a scholarship, that student and his or her siblings remain eligible until high school graduation or age 21.
Students are eligible to apply if they:
Live in families with incomes up to 300% of the free and reduced price lunch program ($130,704 for a family of four in 2013-14)
Attend or live in the attendance zone of a public school designated at “in need of improvement”
Choice for Oklahoma Families
Every child is different and not every school is right for every child. This is the importance of choice, particularly for lower and middle income families. “The issue is not about public versus private schools. It is about finding the place where every single student learns the best”.
Scholarships may be worth up to $5,000, or 80% of the average per-pupil expenditure in the assigned public school district, whichever is greater. For students with special needs who attend a public school with an IEP, the scholarship is worth up to $25,000.
Benefits for Oklahoma Donors
In 2011, the Oklahoma legislature authorized generous tax credits for donors to Scholarship Granting Organizations (SGOs) like Opportunity Scholarship Fund. These SGOs are nonprofits that must expend at least 90% of their revenues on private school scholarships.
Individuals may contribute up to $2,000 per year. Families and “pass-through business entities”, including subchapter S corporations, may contribute up to $4,000 per year. Other legal businesses, such as “limited and general partnerships, corporations and limited liability companies”, may contribute up to $200,000 annually. Effective January 1, 2015, all “pass-through business entities” will be treated as all other businesses, and will able to contribute up to $200,000 per year. As always, consult your tax preparer given your specific case.
All donors are eligible for Oklahoma tax credits of 50% of the donation amount. Effective January 1, 2015, donors who pledge in writing to give the same amount over three years will receive a 75% tax credit the first year and 50% for years 2 and 3. All donations receive a written receipt letter.Read More
Don’t forget that bingo night has been rescheduled for Thursday, April 9th from 6-8pm. If you are looking to fulfill service hours before the end of the school year, we will need volunteers to help with set up and clean up. If you are interested in volunteering, please email Marlie McDonald at firstname.lastname@example.org.
We hope to see you there!Read More