Oklahoma Islamic School Foundation

The Oklahoma Tax Commision has posted the update for this year. "For tax year 2020, contributions made to scholarship-granting organizations must be multiplied by 83.4% before the applicable percentage (either 50% or 75%) is applied to calculate the credit. Credits limited under the 83.4% limitation may be carried over to the next tax year. The amount of credit is not to exceed $1000 for a taxpayer filing single or $2000 for a taxpayer filing jointly." Business tax credit can...not exceed $100,000. The remaining 16.6% will have to be suspended until next year and can be taken at that time because of the overall $5 million annual state cap for these tax credits was exceeded again this year. Please contact us if you have any questions.

Thank you for a great year! Total donations received for Peace Academy and Mercy School Institute for 2020 equals $353,597. Peace Academy - $180,059 Mercy School Institute - $173,538... These donors will get approximately $263,659 in OK tax credits, which is about 74.56% of their donation amount because the majority of them made a two-year donation commitment. $89,938 out-of-pocket = $353,597 to the schools 99.2% of pledges were paid this year. 100% of all donations will help students from low income families attend one of these two accredited Islamic school in Oklahoma. Start off 2021 right by donating the "smart way" at okscholarship.org/opsos/

As the final hours draw near for the last time to donate to your Islamic school and get an Oklahoma tax credit for 2020, we are seeing some competition between donors for Peace Academy and Mercy School Institute. With greater Tulsans generously donating to Peace Academy for the past 6 years, we have raised $174,214 for Peace Academy in 2020. Greater OKC donors are amazing us with their generosity and commitment in their FIRST year of donating with $150,036 raised for Mercy S...chool Institute in 2020. Last year, donations started with 4 Mercy School board members and they are off to a great start this year. Special thanks to every donor for donating the 'smart way'. We will have a final count and update on Monday for any last minute incoming donations. May Allah bless and protect everyone's health, wealth, and family. Ameen. Donate now at okscholarship.org/opsos/

If you would like to learn more about the organization, start the video from the beginning. If you would like to watch some entertaining and informative examples, please start at 7:42.

Information about OISF and how to donate.