Tax Credit for Scholarship Donations (OCEN SGO)
Partners of Madison Christian School have a cost-free way to make a significant contribution to the students of our school. Thanks to Ohio’s state tax credit for taxpayers who make a contribution to the Ohio Christian Education Network Scholarship Granting Organization (OCEN SGO), you are able to make a cost-free gift that will be designated for scholarships to students attending Madison Christian School.
HOW THE TAX CREDIT WORKS:
- 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.
- 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.
- 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.
- 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.
- 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.
- Please note that a new tax year begins January 1. Donations in 2023 will count towards the 2023 Tax Year.
HOW TO CONTRIBUTE:
HOW TO APPLY FOR SCHOLARSHIPS:
MCS students should visit ohiocen.org/sgo to apply for these scholarships. The application window is January 1, 2023 – February, 15, 2023 to apply for 2023-2024 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.