Welcome to the Thunderbird Scholarship Granting Organization. We are excited to offer you a new option to support students attending Lima Central Catholic High School! Even better, you can do it at no cost to yourself. Here’s how:
What is a Scholarship Granting Organization?
A Scholarship Granting Organization (SGO) is a non-profit 501(c)(3) organization that receives contributions from donors and grants educational scholarships to eligible students in the State of Ohio. Donors (Individuals and entities) that contribute to Ohio certified SGOs can receive a tax credit through the Ohio Tax Credit Program. The Ohio Tax Credit Program was enacted in 2021 as part of Ohio House Bill 110.
What is the Thunderbird Scholarship Granting Organization?
In May of 2023, the Thunderbird Scholarship Granting Organization was established. The Thunderbird Scholarship Granting Organization (Thunderbird SGO) is a new opportunity for donors who wish to support students at LCC by taking advantage of the Ohio Tax Credit Program. Contributions to the Thunderbird SGO will help fund the LCC educational experience and will be awarded as scholarships to eligible Lima Central Catholic students.
How Does it Work?
The Thunderbird SGO was created to allow donors to make unrestricted contributions to benefit students attending Lima Central Catholic High School while also receiving eligibility for a tax credit. It is a dollar for dollar credit but is limited to $750 for an individual or $1,500 if married filing jointly or the related State of Ohio tax liability.
Steps to Take:
- Estimate your State of Ohio tax liability. (Note: If your State of Ohio tax payment is greater than or equal to your contribution (with a limit of $750 per individual), your contribution ultimately costs you nothing!)
- Give online to the Thunderbird SGO using the form or mail a check made payable to Thunderbird Scholarship Granting Organization to Tbird SGO, 720 S. Cable Rd Lima, OH 45805. (If you are filing jointly please list both names in the memo line so we can give you the proper credit for tax filing.)
- Save your receipt and claim your tax credit on your State of Ohio tax return. Your receipt will be mailed to you within a week of your gift.
The Thunderbird SGO was created to allow donors to make unrestricted contributions to benefit students attending Lima Central Catholic High School while also receiving eligibility for a tax credit. It is a dollar for dollar credit but is limited to $750 for an individual or $1,500 if married filing jointly or the related State of Ohio tax liability.
Thunderbird SGO has been certified as a Scholarship Granting Organization with the State of Ohio Attorney General’s Charitable Law Section. Under this certification, donations made to Thunderbird SGO will generally qualify as a credit against a taxpayer’s Ohio state income tax up to a certain amount. Thunderbird SGO is currently in the process of applying for tax-exempt status with the Internal Revenue Service. At the time of your donation, we are not considered tax-exempt under federal law, but we intend to be qualified as a tax-exempt entity in the future. Notwithstanding, we cannot and will not guarantee the deductibility of your donation nor your ability to personally qualify for credits against your Ohio state income tax, as the circumstances for each taxpayer are unique. If you have specific questions relating to the tax effects of your donation to Thunderbird SGO, we recommend consulting with an independent tax advisor.