Our organization thrives due to strong volunteer and financial support from our community. Make a difference in the lives of nearly 8,000 students by supporting the Enid Public School Foundation.

For more information, please contact Janna Jackson at

foundation@enidk12.org

Oklahoma Education Tax Credit – Senate Bill 1080

Direct a portion of your state income taxes to benefit Enid Public Schools

The Oklahoma Legislature expanded the Equal Opportunity Scholarship Act to allow taxpayers to receive tax credits for certain donations to public education.  By taking advantage of this change you may receive up to 75% of the donation back in the form of a state income tax credit, substantially reducing your Oklahoma state income tax liability. The Enid Public School Foundation is the only approved organization within the Enid Public Schools District to offer these tax savings for eligible donations to public education.

• 1 year commitment is eligible for a 50% tax credit. 

• 2 year commitment is eligible for a 75% tax credit.

Limits and Eligibility Requirements

Tax Credit Limits: 

The Oklahoma Education Tax Credit program has annual limits on the state income tax credits the OTC will issue.

• $25 million in tax credits may be issued for public education statewide

• $200,000 cap for Enid Public Schools

• $1,000 cap for an individual / single filing

• $2,000 cap for married filing jointly

• $100,000 cap for businesses

Eligibility Requirements:

EPS Foundation has set the following guidelines for donations eligible for the tax credit program.

• Donations must be a minimum of $2,500 for individuals, $5,000 married filing joint and $10,000 corporations and be made in connection with an EPS Foundation limited special campaign. Payments may be spread over a two-year period.

• Donations must be received by December 15.

• Donors must complete the tax-credit eligibility form.

• Donors must submit their tax receipt with their tax filings.

How to Contribute?

• Contact the EPS Foundation at foundation@enidk12.org to learn more.

Don’t miss the chance to direct funds – funds you would otherwise pay in state income taxes – to support innovative programs within Enid Public Schools!

FAQ’s: 

What’s the difference between a tax deduction and tax credit?

• A tax deduction reduces taxable income. A $1,000 tax deduction in a 35% tax bracket saves you $350 in taxes.

• A tax credit reduces income taxes.  A $1,000 tax credit in ANY tax bracket saves you $1,000 in taxes.

How will this impact my federal income taxes?

• If you itemize your tax deductions, the federal charitable deduction must be reduced by the amount of state tax credit received.

• Under the Safe Harbor federal deduction option, some people will be able to reduce their taxable income even further.

What happens if the statewide or district cap is met? 

If the statewide or District cap is met, the Oklahoma Tax Commission plans to prorate taxpayer’s credit and the taxpayer will be permitted to use any unclaimed credit in the following year.  If the tax credit cap is met, you will receive a letter from EPSF by mid-February following the year in which you made the gift, letting you know what percentage of your credit you are able to claim on that year’s taxes.

The information provided by the EPS Foundation is not intended to constitute tax or legal advice. All content herein is for informational purposes only.  EPSF recommends you consult with your tax professional or financial advisor for tax advice based on your specific financial circumstances.

The Enid Public School Foundation is a 501(c)(3) nonprofit organization. Your contribution is tax-deductible to the extent allowed by law. Please consult your tax professional.