We help multiply the value of your contribution to Islamic schools in three simple steps:
OISF takes in donations before December 31 of each calendar year to fund scholarships that help students attend an Islamic school
Your donation benefits students in Islamic schools in Oklahoma!
Every single dollar that you contribute to OPSOS funds scholarships for qualified students to attend one of the Islamic schools in Oklahoma.
You can choose schools that you want to receive most of your donation or simply help OISF fund the need in all Islamic schools, wherever it exists.
Your donation benefits YOU!
You receive an Oklahoma state income tax credit worth up to 75% of the amount of your donation to the OPSOS scholarship, and you can still deduct your entire donation to OISF as a charitable contribution.
The tax credit earned by contributing to OPSOS this year directly reduces your state income taxes on a dollar-for-dollar basis when you file your income tax return next year.
Assuming you itemize deductions on your tax return, your charitable contribution to OISF also reduces your federal and state income taxes by reducing the amount of your adjusted gross income.
The combination of the tax credit and charitable contribution deduction significantly reduces the net cost of your donation to OISF.
OISF helps make sure you get your tax credit and identifies students to receive scholarships for each academic year.
OISF provides information to the Oklahoma Tax Commission to allow donors to receive their tax credit.
At the beginning of each calendar year, OISF provides the Oklahoma Tax Commission with a summary of donations made during the previous calendar year, so the Tax Commission can calculate and administer the tax credits. The Tax Commission will post tax credit information on its website no later than February 15 of each year. Donors will claim the appropriate tax credit when they file their Oklahoma state income tax return.
*Donors to OISF claim a charitable deduction for the entire amount of the donation to OISF on their federal and state income tax returns, just as with any other charitable contributions made by the donor.
OISF identifies students that qualify to receive scholarships to attend an Islamic school.
Every student who applies for financial aid at any of the participating Islamic schools in the Oklahoma is automatically considered for a OISF scholarship.
OISF awards Oklahoma Private School Opportunity Scholarships based solely on the family's demonstrated level of financial need, using verified household income and the number of persons living in the household as a proxy for financial need.
OISF provides scholarships to eligible students attending an Islamic school in Oklahoma.
At the beginning of the academic year OISF finalizes scholarship awards, processes checks made payable to the student's parent, and mails the scholarship award to the Islamic school where the student is enrolled. The parent of the student that has been awarded a Oklahoma Private School Opportunity Scholarship must go to the school to accept the scholarship award and endorse the check over to the student's school.