Support MCS » Tax Credit for Scholarship Donations (OCEN SGO)

Tax Credit for Scholarship Donations (OCEN SGO)

USE YOUR TAXES TO HELP STUDENTS ATTEND MADISON CHRISTIAN!

When you donate to the Ohio Christian Education Network Scholarship Granting Organization (OCEN SGO) for MCS student scholarships, Ohio gives you a dollar-for-dollar credit toward what you owe in taxes (up to $750/person).

 

HOW THE TAX CREDIT WORKS:

This dollar-for-dollar state tax credit is to use toward your current year taxes. In other words, you will receive a 100% tax credit for your contribution when you file your taxes in the next calendar year. Here are some important items to know:
  1. The tax credit is limited to the total Ohio state income tax due that can be found on page 2 of your state income tax return (Ohio IT 1040) line 13. You may contribute more than $750, but the credit is capped at $750 per taxpayer. Your gift is also eligible for a full tax deduction on your federal tax return.
  2. If the total tax due exceeds $750 (single) or $1500 (married), then you are eligible to contribute up to the maximum ($750) and receive the total tax credit.
  3. If the total tax due is less than $750, then your tax credit is limited to the amount on line 13 of your Ohio IT 1040. 
  4. Married couples can receive up to two separate $750 deductions, totaling $1500, however they must make TWO SEPARATE $750 donations, one in each of their names. A single $1500 will only return a single $750 tax credit.
  5. The deadline to contribute for scholarships for the 2023-2024 school year is March 15, 2023. Donations received after March 15 will be for the 2024-2025 school year.
  6. Please note that a new tax year began January 1. Donations in 2023 will count towards the 2023 Tax Year.
 

HOW TO CONTRIBUTE:

Go to ohiocen.org/donate to contribute. Be sure to select Madison Christian School in the drop-down menu so that your contribution will be designated for scholarships to students at our school. OCEN SGO will provide you with a gift receipt. Your contributions will provide tuition scholarships to qualified MCS students. Additionally, your gifts help relieve a significant portion of the school budget that is committed to financial aid, freeing those funds for other operational uses.

HOW TO APPLY FOR SCHOLARSHIPS:

The application window for 2023-2024 scholarships (January 1, 2023 – February, 15, 2023) is now closed.

 

MCS students should visit ohiocen.org/sgo to apply for these scholarships. Students with a demonstrated financial need are prioritized, but all students are encouraged to apply. Learn more about applying.

 

 

Thank you for partnering with Madison Christian School. If you have any questions, please contact our Administrative Office at 614-497-3456.