Under the Oklahoma Equal Opportunity Education Scholarship Act, donors receive a significant state income tax credit — making it one of the most efficient ways to support education in Oklahoma.
Your donation to Cornerstone Scholarship Fund qualifies for an Oklahoma state income tax credit of 50–75% of the contribution amount. That means a significant portion of what you give comes back to you as a reduction in your Oklahoma tax bill — not just a deduction, but a dollar-for-dollar credit.
Oklahoma residents who donate to an approved SGO receive a state income tax credit of 50–75% of their contribution. A tax credit reduces the actual tax you owe, dollar for dollar — far more powerful than a standard deduction.
Oklahoma businesses subject to state income tax, franchise tax, or insurance premium tax can donate and claim the same credit rate. For many businesses, the effective out-of-pocket cost of a donation is a fraction of the face amount.
The donation process is straightforward. Here's exactly what to expect from start to finish.
Reach out by email or phone to let us know you'd like to contribute. We'll confirm your eligibility, provide current program details, and send you our donation instructions. There's no complicated paperwork to start.
Contributions are made by check or electronic transfer payable to Cornerstone Scholarship Fund. We'll provide all the information you need. Your donation must be made to an OTC-approved SGO — that's us — to qualify for the state tax credit.
We'll provide a written contribution acknowledgment confirming your donation amount and our 501(c)(3) status. You'll need this for both your federal charitable deduction and your Oklahoma tax credit claim.
Share your contribution acknowledgment with your CPA or tax preparer. They'll apply the Oklahoma SGO tax credit to your state return, reducing your tax liability dollar for dollar up to the applicable credit rate. The OTC processes credit claims as part of the normal tax filing process.
100% of donated funds (less minimal administrative costs) are awarded as scholarships to income-qualifying Oklahoma students attending participating private schools. We report all scholarship activity annually to the Oklahoma Tax Commission.
Here's a simplified illustration of how the tax credit works for a donor. Your CPA can run the exact numbers for your situation.
This is a simplified illustration. Actual credit percentages, limits, and federal tax treatment depend on your specific tax situation. Consult your tax advisor.