The Catalyst Ed Fund (CEF) is a unique tax credit program that allows businesses to directly support innovative educational programs in Oklahoma's rural public schools.
The scholarship act requires that each EIGO dispersed at least 90% of the money it receives each calendar year as grants for eligible schools during the following academic year, with no more than 10% of contributions available to pay administrative costs.
These funds will significantly impact public schools' ability to deliver an excellent education to students in Oklahoma's rural public schools.
You will be supporting innovative and groundbreaking projects within our state's public education system. Students will benefit firsthand from the CEF, as these funds will augment programs and further advance opportunities for a high quality, challenging education.
All contributions are eligible to receive a tax credit or tax deduction, which will directly reduce the taxes you pay on a dollar-for-dollar basis. By law, donors can receive a 50% tax credit for the first year's donation. If donors pledge for two years, the tax credit increases to 75% for both taxable years. Please consult with your personal tax accountant for more details.
Oklahoma Public School Resource Center (OPSRC) operates the Catalyst Education Fund (CEF), an approved Oklahoma income tax credit granting entity under the Oklahoma income tax credit program. In lieu of giving directly to a school, donors can give to the Catalyst Education Fund and receive the same Oklahoma income tax credit as giving to a school. OPSRC will retain 3% of the donation for member schools and 6% of the donation for non-member schools for administrative purposes with the majority of the donation going to the designated public school and works with the school and the donor to ensure the funds are invested appropriately.
This tax credit program is a way for individuals and/or businesses to make donations to a public school and receive an Oklahoma state income tax credit. Donors may choose which eligible entity to support and designate funds for a program that is of mutual interest to the donor and the public school.[1]
These charts provide an illustrative example of the federal and Oklahoma income tax benefits of traditional donations versus donations via the Public School Oklahoma Income Tax Credit Program for a corporation. These chart make certain assumptions that may or may not be applicable to your own tax situation, including, without limitation, the assumption that the donation is fully deductible as an ordinary business expense by a corporation even where the corporation receives the Oklahoma state income tax credit for the donation. You should consult your own tax advisor regarding your specific circumstance related to a donation via the Public School Oklahoma Income Tax Program.
[1] Oklahoma Statute (Statue Citation: 68 O.S. 2357.206) allows an administration fee of up to 10% of the total donation. Information on the statute can be found at the Oklahoma State Courts Network: Oklahoma Equal Opportunity Education Scholarship Act.
For more information on credits, deductions, and safe harbor rules, view the "CEF: Discussion of Tax Treatment" document.
The Oklahoma Public School Resource Center (OPSRC) is a non-profit organization that provides support services and technical assistance to all of Oklahoma's public schools in the areas of school finance, law, technology, communications and teaching and learning. The center is an advocate for quality public education for all students and is a resource to all educational stakeholders to provide accurate, current information about best practices and policy information. The OPSRC EIGO, Inc. serves as the Educational Improvement Granting Organization (EIGO) for the Catalyst Education Fund (CEF).
All donations to the CEF are welcome and appreciated, and we will acknowledge all who contribute. Please remit all donations to: Catalyst Ed Fund, Inc.
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For more information, please contact OPSRC at:
309 NW 13th St, Ste 103
Oklahoma City, OK 37103
© 2022 CATALYST EDUCATION FUND.
A tax credit program to benefit Oklahoma's public schools.