Ohio Tax Credit Program

List of 8 frequently asked questions.

• How do I make a tax-qualifying gift?

  Visit www.us.edu/sgogifts to make your gift through the OAIS SGO by credit card, check, or ACH direct debit. Set up an account or sign into your existing account to begin the donation process.
  

   

  All checks should be made payable to OAIS SGO and mailed to:
  
  OAIS SGO
  P.O. Box 492
  Granville, OH 43023

   

  When making your gift, be sure to select University School from the drop-down list of schools. University School receives notification of each gift. OAIS will issue a receipt for your gift that you will use when filing your taxes.  
  
  

  Please be sure to include your name and your spouse's name if you plan to file jointly. 

• How does it work? 

  Visit the Ohio Association of Independent Schools (OAIS) website, make a gift there, and designate University School.  When you file your taxes this spring, you will get a tax credit of up to $750 for an individual or $1,500 from a couple filing jointly. If you are filing jointly, be sure to include your spouses name on the gift.   
  
  

  The OAIS SGO will send you a gift receipt you can use when filing your return. University School will provide you with a hard copy of this receipt for your convenience. 

   

  Under Ohio law, you can make your gift anytime before filing your tax return, and it will count toward that tax year.

• Who benefits? 

  University School students who receive need-based financial aid. When you make a gift to the SGO supporting University School, we commit these resources to support need-based scholarships for students in the Upper School. 

• What’s the difference between a Tax Credit and a Tax Deduction? 

  A tax deduction reduces your taxable income. It does not provide a dollar-for-dollar benefit. A tax credit directly reduces the amount you owe in taxes. In the SGO program, each dollar you donate reduces what you owe in taxes by a dollar (up to $750 for an individual and $1,500 for a couple filing jointly).

• Who qualifies for the Tax Credit?  

  All Ohio taxpayers, including individuals donating through a pass-through business entity. 

• Is there limit to how much I can give or the tax credit amount? 

  You may make a donation in any amount. However, the amount you will receive in a tax credit is capped at your full amount of state tax liability or $750 (single) or $1,500 (couple filing jointly), whichever is less. 
  
  

  You may estimate your state tax liability by reviewing Line 8c on your Ohio IT 1040 from last year.

• Do I get Annual Fund credit and gift society recognition? 

  Yes, your gift to the SGO receives Annual Fund credit and counts towards Annual Fund recognition levels. 

• How can I maximize my tax credit?

  Review your Ohio tax liability from last year (1040 IT, line 8c) to help estimate the amount of your Ohio tax liability for this year against which the credit can be taken.