The Empower Scholarship

The Ohio Association of Independent Schools Scholarship Granting Organization:

The Empower Scholarship

Beginning in tax year 2021, individual taxpayers and pass-through entities can now claim a credit for monetary donations made to an eligible scholarship granting organization (SGO). The credit equals the lesser of $750 or the total amount donated to SGOs during the tax year.

In response to this news the Ohio Association of Independent Schools applied to the Internal Revenue Service in early 2022 for 501(c)(3) approval of The Ohio Association of Independent Schools Scholarship Granting Organization (OAIS SGO). OAIS created this non-profit entity after the creation of the scholarship-granting organization tax credit in House Bill 110 (2021).

As a member of OAIS, The Ratner Montessori School has the opportunity to participate in this SGO tax credit. Our mission states: “We empower students to find joy in learning and to become their best selves.” To this end, we have created The Empower Scholarship, which will support deserving students of financial need the opportunity to receive a Ratner education. Donations designated to Ratner School, made through the Ohio Association of Independent Schools Scholarship Granting Organization (OAIS SGO), will be directed toward The Empower Scholarship.

Those who donate to OAIS SGO can receive a nonrefundable tax credit of up to $750 on their Ohio income tax returns. Each spouse in a married couple filing jointly return may claim the tax credit up to $1,500. For married filing jointly, only one contribution from the couple is needed, not separate donations. Should a taxpayer donate more than the taxpayer’s income tax liability, the credit will reduce the taxpayer’s liability to zero (it will not create a refund).

This gift will reduce your Ohio tax liability up to $750.00 for each calendar year. The credit is part of the “non-refundable credits” deducted from your Ohio tax liability before withholding.

For your donation to qualify for the state tax credit, your gift must be made through the Ohio Association of Independent Schools (OAIS) Scholarship Granting Organization (SGO) website. The donation site can be accessed here.

Who can donate?

Parents, grandparents, alumni, friends - ANYONE living in the state of Ohio can make an OAIS SGO donation, so long as they are an Ohio taxpayer with a state tax liability.

If you have any questions please contact: Connie Hartley, Director of Finance at [email protected]