Tax credit program does much good

The question is asked occasionally: With the Parental Choice Tax Credit now available to parents who want to send their children to a private school, is the Catholic Schools Opportunity Fund needed?

Short answer: Yes.

The Parental Choice Tax Credit provides parents with a tax credit ranging from $5,000 to $7,500 per child, depending on the family’s adjusted gross income. The credit is fabulous for families but doesn’t cover the full cost of education.

The Catholic Schools Opportunity Fund helps fill some of the tuition gap for students in the Archdiocese of Oklahoma City and provides a tremendous tax benefit to donors.

During the 2024-25 school year, 494 students received assistance from CSOF. That total equals about 10 percent of the overall enrollment in the 15 elementary schools and three high schools within the archdiocese. Eighty-five percent of those children were from families who qualified for free and reduced-price meals.

For the 2025-26 school year, it’s expected that a similar number of students will benefit from CSOF and receive a high-quality, Christ-centered Catholic education.

Their CSOF assistance will derive from the $1.95 million donated to the program in 2024 by individuals, couples and businesses. Donors who made a two-year pledge received a 75% Oklahoma state income tax credit for their gifts.

The maximum tax credit available is $2,000 per year for couples and $1,000 per year for individual filers. Qualified businesses can receive up to $100,000 per year in a state income tax credit.

This program offers a true win-win scenario: It allows donors to redirect their state income taxes, which they are obliged to pay anyway, to help children receive a potentially transformative Catholic school education.

For more information about the Catholic Schools Opportunity Fund, call me at (405) 709-2700 or visit www.csofok.org.

Owen Canfield is director of the Catholic Schools Opportunity Fund.