100% Tax Credit
What is an sgo?
A Scholarship Granting Organization is a non-profit 501(c) (3) organization that receives contributions from donors and grants educational scholarships to eligible students in Ohio. Individuals and entities that contribute to SGOs can receive a tax credit. The SGO program was enacted in 2021 as part of Ohio House Bill 110.
How does the tax credit work?
You will claim this credit when you file your state income tax return. The nonrefundable credit will reduce your state tax liability. The amount of the tax credit you can claim is equal to 100% of the amount you donate up to $750 per taxpayer.
Also, your gift to the SGO is tax deductible on your federal income tax return. Consult your tax advisor to determine your specific tax situation.
Can donors direct their gift?
Donors can designate their donation to a BCSO school or to one or more specific families.
Who can qualify for donating tax credit?
Any taxpayer donating directly or through a pass-through entity to the SGO is eligible for the tax credit.
Freedom tax credit
Starting January 1, 2027, the Education Freedom Tax Credit lets anyone who owes federal income tax redirect up to $1,700 a person ($3400 married, filing jointly) a year to scholarships for students at Christian schools like ours, dollar for dollar. Heritage Christian School partners with ACCORD Kids, the scholarship granting organization for AACS (American Association of Christian Schools) schools. Families can check eligibility in two minutes. Friends and family can pledge now and give on or after January 1.
START HERE: Check Line 24 (“Total Tax”) on last year’s federal return. How much did you pay? You can donate this amount (up to $1700 per individual or $3400 married, filing jointly) to our school and receive a dollar for dollar credit. Consult your tax professional.