Thunderbird Scholarship Granting Organization

Frequently Asked Questions

WHAT IS THE SCHOLARSHIP TAX CREDIT PROGRAM?

In 2021, the Ohio General Assembly established a program that allows Ohio taxpayers to receive a 100% tax credit against Ohio income tax liability for contributions made to a certified Scholarship Granting Organization. The maximum credit amount is $750, or $1,500 if married and filing jointly.

The Ohio Tax Credit Scholarship initiative is subject to the rules and directives of the Ohio Attorney General’s Office and is subject to change.

HOW DOES A TAX DEDUCTION DIFFER FROM A TAX CREDIT?

A tax deduction reduces a taxpayer’s overall taxable income. A tax credit is a dollar for dollar credit against taxes owed to the State of Ohio. Specific tax questions should be directed to your personal tax advisor.

CAN I DESIGNATE MY CONTRIBUTION TO BENEFIT A CERTAIN STUDENT OR PROGRAM?

No. As a 501(c)(3) organization, the Thunderbird SGO does not accept contributions designated for specific students, programs or funds. All students will benefit from every dollar.

HOW DOES THE TAX CREDIT WORK?

You will claim this credit when you file your state income tax return. The nonrefundable credit will reduce your state tax liability. If you do not have a state tax liability, you will not receive a tax benefit from your donation. The amount of the tax credit you can claim is equal to 100% of the amount you donate, up to $750 per taxpayer.

If you and your spouse file jointly, you may claim $1,500 on your joint state income tax return. If filing together and donating over $750, please make two separate donations — one for $750 in one spouse's name and the remainder up to $750 in the other spouse's name.

HOW DO I KNOW WHAT MY OHIO TAX LIABILITY IS?

Either consult your tax professional or review your 2022 state return (1040 IT, line 8c) to help estimate your tax liability for 2023.

CAN MY EMPLOYER MATCH MY GIFT MADE TO THE THUNDERBIRD SGO?

Yes! This is an easy way to double the impact of your gift. Contact your employer for information on how to complete this. You will not receive tax credit for the amount of your company’s matching gift.

HOW WILL MY CONTRIBUTION BE USED?

Gifts given to the Thunderbird SGO will be used to fund tuition assistance and scholarships for our current students.

Steps to Take:

Estimate your State of Ohio tax liability. (Note: If your State of Ohio tax payment is greater than or equal to your contribution (with a limit of $750 per individual), your contribution ultimately costs you nothing!)
Give online to the Thunderbird SGO using the form or mail a check made payable to Thunderbird Scholarship Granting Organization to Tbird SGO, 720 S. Cable Rd Lima, OH 45805. (If you are filing jointly please list both names in the memo line so we can give you the proper credit for tax filing.)
Save your receipt and claim your tax credit on your State of Ohio tax return. Your receipt will be mailed to you within a week of your gift.

The Thunderbird SGO was created to allow donors to make unrestricted contributions to benefit students attending Lima Central Catholic High School while also receiving eligibility for a tax credit. It is a dollar for dollar credit but is limited to $750 for an individual or $1,500 if married filing jointly or the related State of Ohio tax liability.