Mingo Valley Christian participates in the Opportunity Scholarship Fund (OSF), a state-run program that allows donors to contribute specifically to the MVC scholarship fund and receive a substantial portion of their donation back as a tax credit. Depending on your tax situation, it is entirely possible that your donation to the OSF will be credited back to you fully (or almost fully)—it’s like giving, for free! Several MVC families have already contributed to the OSF and seen great benefit. One donor says, “We’ve been so pleased donating to the OSF the past two years. We have received our donation back fully in the form of tax credits and deductions both years. We are essentially sending our tax dollars to Mingo Valley as a scholarship—and we are so glad to have that option!”
HOW IT WORKS
When you contribute to the OSF and designate MVC as the beneficiary, those funds are earmarked for use exclusively by MVC. The scholarship recipients are selected by MVC through a needs-based assessment and then those funds are released to MVC as tuition dollars. The state of Oklahoma authorizes a tax credit for individual and corporate contributions to OSF. That tax credit can be up to 75% the contributed amount. This is a true credit, not a deduction, although charitable deductions at both the federal and state level are additionally available. When combined, these credits and deductions can drastically reduce or eliminate the net cost of the contribution.
HOW IT BENEFITS YOUR STUDENT
As our enrollment increases, our tuition income increases. These funds benefit ALL students in the form of program and campus improvements, and a more financially healthy school. In the 2017-18 school year, Mingo Valley Christian awarded $44,000 in scholarships to 17 students using OSF funds. That’s $44,000 in tuition income for the school that benefited not only the scholarship recipients, but the entire student body, as the budget flexibility allows us to strengthen programs across the board. Additionally, these 17 students and families would not have been able to attend MVC without the financial aid.
HOW IT BENEFITS YOU
A contribution to the OSF is an excellent way to take your tax dollars and give them as an MVC scholarship! Please contact us if you’d like to learn more about the OSF and we will walk you through the process.
Thank you for considering this creative and effective way of helping Mingo Valley Christian improve and thrive!