FAQ's Saint Martin Ohio Tax Credit Fund

The State of Ohio passed an Ohio income TAX CREDIT for monetary donations to Scholarship Granting Organizations (section 5747.73 of Ohio Revised Code). An SGO is a religious or nonprofit organization exempt from federal taxation whose primary intent must be to award academic scholarships to low-income students to attend schools in grades K12. Primary intent means the organization must spend >50% of expenses on scholarships. Low income is defined as income below 300% of poverty level.

The legislation allows a tax credit up to $750 per individual or $1,500 for married couples filing jointly for donations made to certified scholarship granting organizations. This credit is available to individuals who have an Ohio tax liability. The credit is a dollar-for-dollar credit, but is limited to the lesser of: 1) $750 per individual; or, 2) $1,500 for married couples filing jointly; or, 3) your total tax liability.

Saint Martin de Porres High School created the Saint Martin De Porres High School Scholarship Granting Organization (known as the Saint Martin Ohio Tax Credit Fund) in order to allow donors to make donations for our students while also receiving eligibility for tax credits. The Saint Martin Ohio Tax Credit Fund is fully certified with the State of Ohio as a scholarship granting organization. Donations made directly to the high school’s annual fund are not eligible for the credit.

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

A tax deduction reduces a taxpayer’s overall taxable income. A tax credit is a dollar-for-dollar credit against the taxes paid to the State of Ohio up to the limits allowed by the credit. All donations to the Saint Martin Ohio Tax Credit Fund are directed to provide scholarships to SMDPHS students.

You may donate online at www.saintmartincleveland.org/taxcreditfund or mail a check made payable to SMDPHS SGO (Saint Martin de Porres High School Scholarship Granting Organization) to 6202 St. Clair Ave. Cleveland, OH 44103, attention Suzanne Gaul.

No. All Saint Martin students qualify to receive scholarships from the Saint Martin Ohio Tax Credit Fund. As a 501(c)(3) organization, the Saint Martin Ohio Tax Credit Fund (our SGO) may not accept donations that are designated for a specific student.

No. Any donation may be made, but the tax credit available through the State of Ohio is limited to $750 for an individual or $1,500 for married couples filing jointly.

Yes. You may make a one-time contribution or a recurring monthly or yearly contribution.

Yes. This is a great way to increase your impact. However, you will not receive a receipt or tax credit for your employer’s matching amount.

Yes, all Saint Martin students are eligible to apply and the application processes are communicated to families.

Each donor is personally responsible for maintaining the contribution acknowledgement receipt provided by the Saint Martin Ohio Tax Credit Fund. That receipt can be used to claim the tax credit through the State of Ohio.