Give back to get back.

Yes, you can contribute both individually (as a single person) or jointly (as a married couple) and through a legal business entity that you control; however, the business contribution route is generally better from a tax perspective and can allow you to maximize your tax savings.

Think of a tax credit as a gift card that you can use to pay your taxes. Tax credits directly reduce your tax burden on a dollar-for-dollar basis regardless of your marginal tax rate.  On the other hand, the value of a tax deduction depends on several factors specific to each taxpayer, including whether you itemize deductions and your marginal tax rate.  A tax deduction only reduces the base of your taxable income and therefore only indirectly reduces your tax burden by saving you cents on the dollar.

Your contribution funds scholarships that help students access an education at University School. You cannot designate your contribution to benefit a specific student. GO for University School scholarships are awarded to students and families based upon financial need by taking into account a family's verified household size and income. The size of each GO scholarship depends on the amount of contributions to the University School Education Tax Credit Fund each year.

The Oklahoma Equal Opportunity Education Scholarship Act (68 Okla. Stat. §2357.206) (“Education Tax Credit Law”) allows individuals and businesses to receive Oklahoma state income tax credits for contributing to a scholarship granting organization (“SGO”) recognized by the Oklahoma Tax Commission. The SGO then uses those contributions to fund innovative educational programs for public schools throughout Oklahoma.

GO for Private Schools is the trade name of GO for Great Schools, Inc. (“GO”), which is a scholarship granting organization under the Education Tax Credit Law that that awards scholarships so that students with financial need can attend a private school in Oklahoma.  GO is an independent 501(c)(3) organization established to assist contributors, communities, and schools across Oklahoma in gaining functional access to the benefits of Oklahoma’s Education Tax Credit Law. 

The tax identification number for GO for Great Schools, Inc. dba GO for Private Schools is 83-2415970

Tax credits directly reduce the taxes you pay on a dollar-for-dollar basis. An Oklahoma state income tax credit is like a gift card from the State of Oklahoma that you can use to pay your state income taxes. For example, with a $1,000 tax credit from the State of Oklahoma, you can pay $1,000 in state income taxes. 

Tax deductions reduce the base of taxable income upon which you pay taxes, which translates into a reduction on the amount of taxes that you pay; however, the value of tax deductions depends upon a number of factors specific to each taxpayer, including your taxable income which determines your tax rate, whether you itemize deductions, the application of phase outs of certain deductions, and whether the alternative minimum tax applies to you.

Both tax credits and tax deductions help to minimize the overall taxes you pay, but tax credits are much more valuable because they directly reduce taxes dollar-for-dollar.

Individuals and legal business entities (corporations, limited liability companies and partnerships) can contribute to the GO for Education Tax Credit Fund and receive a state income tax credit from Oklahoma. Individuals can receive up to a $1,000 tax credit annually, married couples can receive up to a $2,000 tax credit annually, and legal business entities can receive up to a $100,000 tax credit annually.

The tax credit earned by contributing through GO is equal to a percentage of the amount you contribute, depending on whether you contribute for a single year or commit to contributing the same amount for two consecutive years. If you are willing to commit in writing to contribute the same amount for two consecutive years (e.g. 2025 and 2026), then the law grants you a tax credit of 75% of the amount contributed each year. If you only want to make a single year contribution, the tax credit is only 50% of the amount contributed.

Yes, the Education Tax Credit Law sets a statewide cap on the aggregate amount of tax credits that may be claimed each year; however that amount was substantially increased by an amendment that was signed into law in 2021.  

As of January 1, 2022, the Education Tax Credit Law sets aside $25 Million in annual tax credits exclusively for contributors to SGOs like GO for Private Schools and another $25 Million in annual tax credits exclusively for contributors to EIGOs, for a total of $50 million in annual tax credits (collectively, the “Annual Tax Credit Cap”).  Furthermore, any tax credits available to contributors to SGOs that are not utilized each year will be used to benefit contributors to EIGOs, and vice-versa. 

To be clear, the total Annual Tax Credit Cap of $50 million automatically replenishes each year.

Because the size of the Annual Tax Credit Cap , it is unlikely that tax credits earned by each contributor to an SGO will be deferred or “suspended” by the Tax Commission any time soon.

All SGOs are required to file a report with The Oklahoma Tax Commission in January of each year detailing contributions received during the prior calendar year. The Tax Commission calculates the total amount contributed to all SGOs for the just completed tax year and the total amount of tax credits earned by such contributions and publishes a report on its website by February 15 of each year.  Link to OTC Annual Announcement.

If total tax credits earned from contributions to all SGOs (and other eligible organizations) in the State for that year exceed the available tax credits for the year, then a portion of the tax credit earned by each contributor to an EIGO will be deferred or “suspended” by the Tax Commission on a pro-rata basis so as not to exceed the effective Annual Tax Credit Cap. NOTE: No tax credits are lost as a result of such deferral, rather the timing of the use of the tax credits by the taxpayer may be delayed.

If the Annual Tax Credit Cap was exceeded in one year, the Annual Tax Credit Cap for the following year will effectively be reduced by the amount of the suspended credits (the “Effective Annual Tax Credit Cap”).

Tax credits received from contributing through GO may be used in the immediately following year, to the extent that the Annual Tax Credit Cap is not exceeded. For example, tax credits earned by contributing through GO in one calendar year (to the extent not deferred or suspended) may be used to offset your state income taxes when you file your Oklahoma tax return during the following year. In addition, any tax credit not used in a given tax year may be carried over for up to three years. The tax credit is not refundable. You must use it as an offset to Oklahoma income taxes.

The easiest way to contribute is through the  CONTRIBUTE NOW button. You may pay by Credit Card, ACH/eCheck, or Paper Check.

You may also complete a paper contribution form if you prefer and send it with your Check or Credit Card or bank account information to:

GO for Private Schools

PO Box 52820

Tulsa, OK 74152

Note: Contributions made by credit card incur a processing fee of approximately 3%. GO will absorb that processing fee. The gross amount contributed (including the processing fee) counts as your contribution for purposes of calculating both your state income tax credits and the amount of your charitable deduction.

Contributions to GO are held at our bank in an account designated solely for the purpose of the GO for Private Schools Education Tax Credit Fund or in a reserve fund where such funds can be conservatively invested to generate a return while waiting to be deployed to fund need-based scholarships.

Contributions to the GO for Education Tax Credit Fund received by December 31 will count as charitable contributions made during that calendar year for purposes of earning your state income tax credit from Oklahoma and your charitable tax deduction. The tax credit that you earn by contributing through GO in each calendar year may be used to offset your Oklahoma taxable income when you file your tax return for that year, subject to any deferral required as a result of exceeding the Annual Tax Credit Cap. 

The amount of tax credits earned only depends on the amount of your contribution through GO, the category of contributor you are (single, married, or business), and whether you are willing to make a 2-year written contribution commitment to earn the 75% tax credit versus a 50% tax credit for a single year contribution.

The amount of the tax credit that you may claim by contributing through GO in 2025 will be determined by February 15 of 2026 and may be claimed when you file your tax return for 2025. Federal and state tax deductions for your contribution to GO in 2025 may also be claimed when filing your 2025 tax return.

You can review the Education Tax Credit Law itself, which is formally known as the “Oklahoma Equal Opportunity Education Scholarship Act” (68 Okla. Stat. §2357.206). The Oklahoma Tax Commission, which is responsible for carrying out the statute, is another good source of information (www.tax.ok.gov).