Tax credits that directly reduce the taxes a donor pays on a dollar-for-dollar basis.
Donors may designate a preference for 75% of the money contributed to go towards scholarships at particular Catholic schools in the Diocese of Tulsa, including Bishop Kelley. The remaining 25% will go to fund scholarships at Catholic schools throughout the Diocese based on where the financial need is greatest, so Kelley may receive a share of those funds. GO for Catholic Schools will directly benefit Bishop Kelley High School with funding for current students with financial need, and indirectly, by creating a stronger source of students for Kelley in the future.
The Tulsa Community Foundation administers all funds.
Example: A gift of $4000 from a married couple in the 35% tax bracket filing a joint return:
OK State Tax Credit:
2,000 (up to $2,000)
Estimated Net Cost to Donor:
The net cost to the donor for contributing $4,000 towards scholarships is less than $400 after taking into account the tax deductions and the tax credit resulting from such a contribution to GO!
Consult your financial advisor for specific tax advice.
GO for Catholic Schools, Inc. (“GO”) is a scholarship* granting organization (set up in compliance with the Oklahoma Equal Opportunity Education Scholarship Act) that awards scholarships so that students with financial need can attend one of the twelve Catholic schools in the Diocese
GO for Catholic Schools, Inc. is not part of the Catholic Church; rather it is a separate 501(c)(3) organization established to benefit Catholic Schools in the Diocese of Tulsa.