Falcon SGO Inc.
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Welcome!
Thank you for supporting our local students!
Falcon SGO Inc. is a certified Ohio Scholarship Granting Organization (SGO).
Falcon SGO (EIN: 88-3430474) is a public charity and tax exempt under Internal Revenue Code 501(c)(3).
Falcon SGO provides scholarships to schools in the St. Gabriel the Archangel Family of Parishes. If you wish to support a different school, please visit the Ohio Attorney General's Website for a list of other certified scholarship granting organizations.
* PLEASE CONSULT A TAX ADVISOR BEFORE MAKING AN SGO DONATION *
You have until tax filing time to make your donation; your donation does not need to be made by December 31st.
Falcon SGO will send Donor Confirmation Letters via email during the first week of January or whenever you make your donation, whichever is later.
PLEASE NOTE: if two people in one household wish to claim the tax credit, each individual should make a separate donation. Separate acknowledgement letters will be provided to document each individual gift.
STEP 1: DONOR CONTRIBUTION FORM
Click the white "Donor Contribution Form Button" below:
STEP 2: DONATE (REQUIRED for Donor Letter)
Option 1: Online
Credit or Debit Card
Bank Account Direct Debit
Click the white "Donate Button" below:
Option 2: Check
Payable to:
Falcon SGO Inc.
PO Box 30
Vandalia, OH 45377
WHAT IS THE OHIO SGO TAX CREDIT PROGRAM?
Ohio taxpayers who donate to SGOs may be able to claim a dollar-for-dollar, non-refundable* tax credit on their state income tax return for up to $750 per donor (up to $1,500 if married and filing jointly). See section 5747.73 of the Ohio Revised Code.
*What Is a Nonrefundable Tax Credit? A nonrefundable tax credit is a reduction in the amount of income taxes that a taxpayer owes. It can reduce the amount owed to zero, but no further. In other words, the taxpayer forfeits any credit that exceeds the total amount of taxes owed.
TAX CREDIT vs. DEDUCTION
It is important to understand the difference between a tax credit and a tax deduction, and it is important to determine your eligibility for tax credits and deductions before you file.
Credits can reduce the amount of tax you owe or increase your tax refund.
Deductions can reduce the amount of your income before you calculate the tax you owe.
HOW MUCH CAN I DONATE?
Please consult a tax advisor to determine the optimal donation amount for you.
* The guidelines below assume you are not eligible for any other nonrefundable credits that may be applied before the SGO credit. See "What about other Ohio Nonrefundable Tax Credits?" below.
If you make $40,208 or more and you do not have any other credits superseding the SGO Credit, then:
you can donate $750 and get $750 back in your tax refund.
You and your spouse can each donate $750 for a total of $1500, if you file jointly and make $67,480 or more together. If you file separately, then the $40,208 limit applies to each of you.
If you both donate, you should make two separate donations for tax accounting purposes.
If you make less than $40,208:
A smaller donation should be made based on the amount of Ohio income tax you owe.
Those who make $26,050 or less do not pay an Ohio income tax, so a tax credit does not benefit these individuals.
SGO TAX CREDIT & THE OHIO IT 1040 FORM
To calculate your maximum allowable SGO donation, you must first tally the other nonrefundable Ohio credits that may get applied before the SGO credit. Nonrefundable credits have a preference order that can be found on the Ohio Schedule of Credits. That schedule can be found at the link below, as an addendum to the Ohio IT 1040 Form.
Using the 2024 Ohio IT 1040 Form, go to the 2024 Ohio Schedule of Credits.
Line 1 is your "Tax liability before credits (taken from Ohio IT 1040, line 8c)"
Total the other 11 potential credits from Lines 2-14 on this page.
Subtract this total from Line 1 "Tax liability before credits." This amount is your adjusted tax liability.
Your SGO donation can be up to this amount or $750 ($1500 for married joint filers) whichever is less.
Your SGO donation/credit goes on Line 15.
Your SGO donation/credit goes on Line 15 of the Schedule of Credits.
Notice the Line 15 states "include copies of all required documentation." You must submit your tax acknowledgment letter with your Ohio Tax Return in order to receive your Ohio tax credit.
If you file electronically, you can create an account with the Ohio Department of Taxation and upload your letter there.
If you do not provide a donor acknowledgment letter with your return, the State will mail you a letter requesting it. You can mail your letter at that time, but it will delay your refund.
OHIO TAX TABLE (Ohio Department of Taxation)
For taxable years beginning in 2024:
Thank you for supporting Falcon SGO and St. Gabriel Family of Parishes !
info@FalconSGO.org
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