Ohio Christian Education Network Scholarship Granting Organization
Friends of Heritage Classical Academy now have a cost-free way to make a significant contribution to our students. The state of Ohio has initiated a new state tax credit for taxpayers who make a contribution to HCA through the Ohio Christian Education Network Scholarship Granting Organization (OCEN SGO), which will then be designated for scholarships for Heritage students. Here are the details:
For gifts up to $750 for individuals and $1500 for married couples filing jointly, you will receive a dollar-for-dollar state tax credit to use during the current tax year. In other words, students at HCA receive the benefit of your gift at essentially no cost to you.
Since the tax credit is granted per taxpayer, married couples filing jointly may receive up to $1,500 in credit if both spouses make a $750 donation in their individual names.
Once a gift is claimed as a state tax credit, it is not eligible to be claimed as a federal deduction if the taxpayers itemizes.
Click here to donate. Be sure to select Heritage Classical Academy-Pepper Pike in the drop-down menu so that your entire contribution will be designated for scholarships at our school. OCEN SGO will provide you with a gift receipt.
Your contribution will provide scholarships to students at HCA, especially benefiting students with a demonstrated financial need.
FAQ’s:
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Your OCEN SGO donation can be claimed when you file your Ohio taxes. Gifts made through April 15th can be retroactively applied to the previous year’s taxes. The credit is a dollar-to-dollar reduction in your state tax liability up to $750 per taxpayer. A married couple filing jointly can claim a credit of up to $1500. To receive the full tax credit, you must have an Ohio tax liability equal to or greater than the amount of the credit. To claim the credit, enter the donation amount on line 15 of the Ohio Schedule of Credits.
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Yes. The tax credit is on a per-individual taxpayer basis. Married couples can receive two separate $750-deductions, totaling $1,500. To receive the maximum credit, spouses must list both of their names on the donation form so that a gift over $750 can be split between them.
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Heritage will accept donations year-round.
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You may do so! In that case, the first $750 will be granted a $750 state tax credit, and the amount of the gift beyond the initial $750 may be claimed as a federal and state tax deduction. Consult with your tax specialist to review your specific tax situation. In the meantime, find more information here.
Have additional questions? Please click the button below to learn more.
A special thanks to the following churches for encouraging their congregation to participate in the SGO! If your church would like to know more about how to best communicate the SGO, please reach out to Rick Eimers, rick.eimers@heritageclassicalacademy.org.