What is the XAVIER-SGO? XAVIER-SGO, a Scholarship Granting Organization, is a new charitable organization created by St. Xavier High School to allow our donors to receive an Ohio Income Tax Credit for their contributions to support our mission or the mission of the newly forming Xavier Jesuit Academy.
Why did we create a new charitable organization? To qualify as an Ohio SGO, St. Xavier High School and the Xavier Jesuit Academy formed "Xavier-SGO" to benefit deserving students and to provide a tax credit to our donors who want to support the mission of both institutions.
Why is this important? A tax credit is more beneficial to our donors than a tax deduction. It means the donor pays up to $1,500 less in taxes. In addition, many other charitable organizations have created SGOs for the benefit of their donors.
What formal relationship (if any) exists between XAVIER-SGO and the affiliated schools? The mission of all three
organizations is the same. XAVIER-SGO was created to secure Scholarship Granting Organization status and will primarily fund tuition scholarships for students with financial need. XAVIER-SGO will not have any employees, as St. Xavier High School staff will perform all administrative duties.
How will contributions to the XAVIER-SGO be distributed? The contributions from donors will be distributed according to the donors designation to either St. Xavier High School, Xavier Jesuit Academy or to the greatest need for tuition assistance at either school. Ohio code requires that more than 50% of donations be used to fund scholarships with priority given to students with financial need.
What is the amount of the tax credit? The Ohio Income tax credit is limited to $750.00 per individual or $1,500 for a married couple filing a joint tax return. Contributions must be made to the XAVIER – SGO to qualify for this credit.
Are corporations eligible for the credit? No, corporations are not eligible. The only groups eligible for the tax credits are individuals and pass-through entities.
How can I make my contribution? To make your gift, please fill out the form below.
Will the XAVIER-SGO contributions be solicited as a part of the St. Xavier HS Annual Fund campaign? Contributions to the Xavier-SGO will be recognized as a gift in the annual financial report/donor honor roll of either St. Xavier High School or the Xavier Jesuit Academy.
How should a donor determine whether to contribute to St. Xavier High School, Xavier Jesuit Academy or XAVIER-SGO? Everyone will need to determine what is best for them. It is our hope you will take advantage of this new legislation and support the Xavier-SGO in addition to your support of the annual fund campaign. Your donation supports students in need at your choice of St. Xavier High School, Xavier Jesuit Academy or the greatest need decided by the XAVIER-SGO Board of Members.
Can I contribute to more than one SGO? Yes, but the tax credit per year maximum is $750 if filing individually and $1,500 if filing jointly. Of course donations do not have a maximum amount, but only $750/$1,500 will be a tax credit.
In addition to its Ohio status, Xavier-SGO has also filed federal (IRS) Form 1023 for tax-exempt charitable status under Internal Revenue Code Section 501(c)(3). This status, once granted by the IRS, may allow all donations made to Xavier-SGO, from its September 27, 2022 inception, to qualify as deductible charitable contributions, for individuals who claim itemized deductions on their federal tax returns. Please consult your tax your advisor. The SGO cannot guarantee the specific deductibility of any tax donation.
To claim the “Ohio Scholarship Donation Credit” on your 2022 Ohio Income Tax Return, your 2022 Xavier-SGO contribution must be made by December 31, 2022. The credit may be claimed annually on your Ohio Income Tax Returns. Therefore, a Xavier-SGO contribution made during calendar 2023, would be claimed for credit on your 2023 Ohio Income Tax Return.
XAVIER-SGO BOARD OF MEMBERS
PRESIDENT: Tim Reilly, President, St. Xavier High School
TREASURER: Alma Helpling, Secretary and Treasurer, Xavier Jesuit Academy
SECRETARY: Gerry Bollman, Vice President of Operations and CFO, St. Xavier High School
DIRECTOR: Walter C. Deye SJ, Superior, Cincinnati Jesuit Community
DIRECTOR: Fr. Nathan Wendt SJ, President, Xavier Jesuit Academy