SGO

List of 11 items.

• What is the Ohio Scholarship Granting Organization (SGO) Tax Credit?

  This program was established by the State of Ohio to provide Ohioans a dollar-for-dollar state tax credit up to $750 annually or $1500 married filed jointly, to an approved Scholarship Granting Organization (SGO). An SGO provides private school scholarships to students attending K-12 educational institutions. 

• What is a tax Credit?

  A tax credit is a dollar-for-dollar amount that taxpayers can subtract directly from the income tax they owe

• What is the difference between a tax credit and a tax deduction?

  The main difference is that a tax credit directly reduces the amount of tax you owe (your tax bill), dollar-for-dollar, while a tax deduction reduces your taxable income, meaning the amount of income the state uses to calculate your tax. 

• Is a donation to the Troy Christian SGO different than giving to Troy Christian School

  Yes. Donations to the Troy Christian SGO are eligible for the Ohio SGO tax credit.
  Donations to Troy Christian School are not eligible for the Ohio SGO tax credit but are eligible for a charitable deduction on a federal return.

• Can I designate my donation to a specific student?

  No. Money must be made to the SGO rather than a specific individual for it to qualify as a charitable donation.

• Who receives the scholarship funds?

  State of Ohio law mandates that students whose families qualify as low-income must be prioritized in the granting of scholarships. These are selected from an application process that those families have completed for additional financial aid beyond any other state scholarships they may receive. 

• Do I have to give $750 to receive the tax credit?

  No. You can donate any amount up to $750 as an individual or up to $1,500 as a couple filing jointly. The amount you donate is the amount you will claim on your state income tax filing.

• How can I give to the Troy Christian SGO?

  You can give through our online portal. 
  You can also write a check to Troy Christian SGO
  and mail it to
  
  Troy Christian SGO
  700 S Dorset Rd
  Troy, OH 45373

• How do I claim the tax credit once I have given to the SGO?

  You will enter the amount donated to the Troy Christian SGO in Line Item #15 under “Ohio Schedule of Credits” on the Individual Income Tax Return 1040 Form.

  You may also be asked for the SGO's Federal EIN.
  This number is 39-3355364

• How do I know if my donation was received?

  You will receive a donation letter. You will want to file a copy of this letter with your Ohio tax return to claim your credit.

• Is there a deadline by which my donation must be received for me to claim the credit?

  You can donate up until the day before you file your taxes, and it will apply to the previous year’s tax obligations.