Oklahoma Private School Opportunity Scholarship

Program Type: Scholarship Granting Organization (SGO) that provides tax-credit funded scholarships for K-12 private school tuition

The Oklahoma Private School Opportunity Scholarship is enabled by the Oklahoma Equal Opportunity Education Scholarship Act (Bill 969, approved in 2011). The program allows donors to receive Oklahoma state tax credits in addition to federal and state tax deductions for charitable contributions to provide scholarships for eligible students attending private schools.

Award Amount

• Maximum per student: Up to $6,194 annually (for 2014-15 school year)
• This equals 80% of the statewide annual average expenditure per pupil reported by the State Department of Education
• Actual scholarship amount depends on OISF's and participating schools' fundraising success each year
• The school proposes a scholarship amount, but OISF makes the final decision

Eligibility

• Students: Low-income students defined as eligible for free and reduced lunch (185% of Federal Poverty Level)
• Schools: Private and independent schools in Oklahoma that are registered partners with OISF
• Estimated 62% of public school students in Oklahoma meet the low-income eligibility standard

Target Population

• Low-income K-12 students
• Students attending eligible private/independent schools
• The law suggests roughly 62% of scholarship funds should go to low-income students

Tax Credit Information (for Donors)

• Individual maximum donation: $2,000 per year
• Joint filer maximum donation: $4,000 per year
• Business maximum donation: Up to $200,000 annually (for certain business entities, effective January 1, 2015)
• Tax credit amount: 50% of the amount contributed, not to exceed $1,000 for individuals ($2,000 for married filing jointly) or $100,000 for business entities
• Three-year donation option: 75% tax credit for Year One of a three-year commitment (effective January 1, 2015)
• Carryover provision: Any unused credit has a three-year carryover provision

Geographic Scope

• Oklahoma (statewide)

Contact Information

• Phone: 918-895-GIVE (4483)
• Email: info@OKscholarship.org
• Address: P.O. Box 976, Broken Arrow, OK 74013
• Website: okscholarship.org

Organization Status

• 501(c)(3) nonprofit organization
• EIN: 46-4736265
• One of four Scholarship Granting Organizations (SGOs) in Oklahoma

Background

The program leverages Oklahoma tax credits to enable charitable donations to scholarships without using public funds. The scholarships are financed entirely by charitable contributions offset by tax credits, meaning state public education funds are not directly used.

How to Apply

For Students:
1. Contact an eligible private school partner participating in the Oklahoma Private School Opportunity Scholarship program
2. Schools will validate student eligibility for the scholarship
3. Submit eligibility documentation confirming low-income status (eligible for free and reduced lunch)
4. Complete income verification as required
5. The school proposes a scholarship amount; OISF makes final determination

For Donors:
1. Make a donation to the Oklahoma Islamic School Foundation
2. Receive an OISF receipt letter documenting the contribution and tax credit information
3. Report the tax credit on line 39 of Oklahoma tax form OK511CR
4. Receive 50% tax credit (or 75% for Year One of three-year commitments, effective 2015)
5. Also claim federal and state charitable deductions

Application Materials

• Income verification documentation (for student eligibility)
• Household size documentation (for determining eligibility)
• Student enrollment documentation from eligible school
• Donation receipt letter (for donors)

Required Documentation

• Income Verification Options: Multiple options available to verify low-income status (see Income Verification Options page on website)
• Household Size Documentation: Required for determining eligibility thresholds

Contact for Application Support

• Phone: 918-895-GIVE (4483)
• Email: info@OKscholarship.org
• Mailing Address: P.O. Box 976, Broken Arrow, OK 74013