A CHOICE FOR PARENTS A HERO FOR KIDS€¦ · 2018 EOT 3 ABOUT The Opportunity Scholarship Fund...
Transcript of A CHOICE FOR PARENTS A HERO FOR KIDS€¦ · 2018 EOT 3 ABOUT The Opportunity Scholarship Fund...
-
2018 ANNUAL REPORT
1
A HERO FOR KIDSA C H O I C E F O R P A R E N T S
2 0 1 8 A N N U A L R E P O R T
-
OPPORTUNITY SCHOLARSHIP FUND
2
We believe every child is different, and not every school is right for every child. This is why choice matters.
Our program accommodates special-population students and younger students with special educational challenges.
The issue is not about public versus private schools. It is about finding the place where each student learns the best.
OUR BELIEF
-
2018 ANNUAL REPORT
3
ABOUT
The Opportunity Scholarship Fund (OSF) is a 501(c)(3) scholarship-granting organization
providing scholarships for lower-income families to afford to attend accredited private K-12
schools in Oklahoma. Students qualify based on standards established by individual member
schools’ financial aid criteria and the requirements established by the Oklahoma Equal
Opportunity Education Scholarship Act. Established in late 2014, OSF is the premier scholarship
granting organization in Oklahoma.
IN THIS DOCUMENT
2 Our Belief4 President’s Letter6 2018 Overview10 Looking Ahead
MISSION
The Opportunity Scholarship Fund provides life-changing opportunities to low-income
students who would not normally receive a pathway to specialized education.
OVER $14 MILLIONin Donations Since Inception
64Member Schools
80%of Scholarship Dollars Go to
Lower-Income Students
-
OPPORTUNITY SCHOLARSHIP FUND
4
FROM OUR PRESIDENT
CHARLES DANIELSPRESIDENT
Donors to the Opportunity Scholarship Fund (OSF) are true heroes.
Their generosity allows parents to choose the best schools for their children, making a difference that lasts a lifetime for every student who receives a scholarship.
Since the Oklahoma Legislature authorized scholarship granting organizations in 2011, OSF has done incalculable good across the state. In 2018, we granted more than 1,300 scholarships worth more than $3.8 million, with more than 80% going to students from lower-income families.
However, when I think about what we do at OSF, I don’t focus on the statistics. I think about the children. I picture:
• Autistic kids attending Paths to Independence
• Hearing-impaired children enrolled at Happy Hands
• Addicted teens reclaiming their lives through Mission Academy
• Abused kids finding help at the Cross Christian Academy
• Homeless children getting shelter at Positive Tomorrows
• Students with learning disabilities benefiting from specialists at Trinity School and Town & County School
• Hundreds of other students realizing their God-given potential at more than 60 accredited schools
Funding these scholarships is noble and deserves increased support. That’s why the Legislature provided a tax credit of 50% for donations, as well as a 75% credit for two-year pledges. We continuously encourage lawmakers to raise the cap on tax credits so everyone who wants to become a hero for students can receive the full benefits.
Our program has proven its value. Besides the thousands of families now providing the best education possible for their children, we have saved the state money. In 2018, every $1 in tax credits issued to donors resulted in $1.39 in savings for the state budget.
The more our program grows, the more taxpayers save.
We had an exceptional 2018, and the entire board and everyone affiliated with OSF promises to continue fighting for Oklahoma’s children in 2019.
Sincerely,
-
2018 ANNUAL REPORT
5
BOARD OF DIRECTORS
OUR SCHOOLS
DIRECTORS
STAFF
Altus Christian Academy
Ardmore Adventist Academy
Bristow Adventist School
Christian Heritage Academy
Claremore Christian School
Community Christian School
Corn Bible Academy
Crossings Christian School
Destiny Christian School
Eagle Point Christian Academy
Emmanuel Christian School
Family of Faith Christian School
First Lutheran School
Good Shepherd Lutheran School
Happy Hands Education Center
Heritage Adventist School
Hillsdale Christian School
Holy Trinity Lutheran School
Hope Harbor School
Immanuel Lutheran Christian Academy
James Caraway Christian Academy
Ketchum Adventist Academy
King’s Gate Christian School
Lakewood Christian School
Lawton Academy of Arts & Sciences
Lawton Christian School
Legacy Christian School
Life Christian Academy
Lincoln Christian School
Metro Christian Academy
Mingo Valley Christian School
Mission Academy
Oak Hall Episcopal School
Oklahoma Bible Academy
Oklahoma Christian Academy
Oklahoma Christian School
Parkview Adventist Academy
Paths to Independence School
Pioneer Adventist Christian School
Positive Tomorrows
Regent Preparatory School of Oklahoma
Rejoice Christian School
Riverfield Country Day School
Seventh-Day Adventist Christian Academy
Southwest Covenant Schools
Special Care School
St. John Lutheran School
St. John’s Christian Heritage Academy
St. Paul’s Lutheran School
Stillwater Christian School
Stonebridge Academy
Summit Christian Academy
The Cross Christian Academy
The Little Lighthouse
Town and Country School
Trinity School
Tulsa Adventist Academy
Tulsa Hope Academy
Undercroft Montessori
Victory Christian School
Victory Life Academy
Wesleyan Christian School
Western Oklahoma Christian School (Clinton Campus)
Western Oklahoma Christian School (Elk City Campus)
Western Oklahoma Christian School (Weatherford Campus)
Wright Christian Academy
MICHAEL CARNUCCIO Yukon
EDDIE HUFF Tulsa
TODD KOLCZUN Miami
T.W. SHANNON Norman
DAN NEWBERRY Tulsa
HOPPER SMITH Edmond
ROBERT SELLERS EXECUTIVE DIRECTOR
BRANDON DUTCHERVICE PRESIDENT Edmond
MIKE LAPOLLATREASURER Tulsa
PHOTOCHARLES DANIELSPRESIDENT Bartlesville
LAUREN ROBERTS EXECUTIVE ASSISTANT
BRITTONI LANTZSECRETARY Broken Arrow
-
OPPORTUNITY SCHOLARSHIP FUND
6
2018 OVERVIEW
2018 was a tremendously fruitful year. Our school leaders became more engaged with OSF, attending trainings, increasing marketing efforts and reaching out to policymakers. OSF provided over 1,300 scholarships through 64 member schools to help lower-income families achieve a better educational experience.
Uncertainty over exceeding the tax credit cap may have lowered donations, but we still have many committed supporters doing the right thing for Oklahoma’s children, and OSF will keep fighting to expand our program.
-
2018 ANNUAL REPORT
7
REVENUES
Revenue for 2018 totaled $4,140,298, a 19.6%
decrease from the $5,149,000 generated
in 2017. Most of the decrease came from
business donations, largely due to the
effect of having exceeded the statutory cap
the year before. Corporate donations fell
$730,000 and donations from couples and
individuals fell $354,000.
As in 2017, corporate gifts made up 71% of the
donations generated in 2018, while married
and individual taxpayers generated 27% and
2% of the remaining donations, respectively.
Qualified business entities only made up 17%
of donors; the married and individual donors
made up 83%. With the married and individual
taxpayers limited to only $2,000 and $1,000
of tax credits, the donations generated by this
group will always be lower until the limits can
be raised or eliminated by the Legislature.
27%
71%2%Corporate
2018 DonationsBy Donor Type
Joint
Individual
SCHOLARSHIPS
Scholarships awarded in 2018 grew to $3.8
million, an increase of $760,000, or 25%, from
the $3 million granted in 2017. Over 1,300
scholarships were given in 2018, an increase of
more than 300 from 2017.
The majority of the scholarships went to
families eligible for the free-and-reduced
lunch program (defined as “low income”
by the law). Families in this category
are deemed to be at 185% of the federal
poverty level (FPL). For 2018, almost $2
million in scholarships were granted to
families categorized as low-income. Another
$1,050,000 was granted to students at the
185% - 300% of FPL, with the remaining
$760,000 going to families over 300% of FPL.
Since OSF’s inception in late 2014, the
organization has delivered approximately
$8.4 million in scholarships to almost 3,000
students, $4.5 million of which went to 1,370
families eligible for free-and-reduced lunch.
19%
54%27%
Under 185% FPL
Scholarships AwardedSince Inception
185% – 300% FPL
Over 300% FPL
Average Scholarship AwardUnder 185% FPL 185% – 300% FPL Over 300% FPL
$4,000
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
$0
$2,832
$2,355
$1,933
$2,521
$3,379 $3,269
$3,565
$2,279
$2,773$2,627$2,654
$1,763
$2,296 $2,233$2,402
2015 2016 2017 2018 SINCE INCEPT
-
OPPORTUNITY SCHOLARSHIP FUND
8
OPERATIONSOperating expenses for OSF totaled
approximately $266,000, or 6.5% of
revenues, in 2018. Most of the operating
expenses went toward contract services, and
marketing and advertising of the program.
During the year, the organization moved its
operations from Oklahoma City to Tulsa,
which provided more efficiencies to serve its
member schools and donors.
“Due to medical bills and constantly taking off work for Riley’s needs we could not afford her school. We heard about OSF scholarships, and the impact on our family is HUGE. We are able to take Riley to a school that knows how to fulfill her every need. We drop her off every day knowing she is in good hands.
Ashley R., Special Care School ”
OTHER FINDINGS
VALUE TO OKLAHOMA
• The total educational savings from the
Scholarship-Granting Organizations
(SGOs) was more than $14.6 million from
all funding sources (federal, state and
local) in 2017.
• When anticipating state appropriations in
common education for teachers’ pay and
classroom funding for the 2018-19 school
year, the state savings increases to $1.51
for every $1 of tax credit issued. (When
accounting for all funding sources, the
fiscal return is $3.16 for every $1 of tax
credit issued.)
• In the 2017-18 school year, the state’s three
main SGOs awarded more than 2,466
scholarships, with an average award of
more than $1,800 per scholarship.
A 2018 fiscal impact study shows Oklahoma’s
tax credit scholarship programs save the state
– and public education – money while helping
hundreds of lower-income families afford
to send their children to private school. An
updated study by economists at Oklahoma
City University revealed for every $1 of tax
credit issued to donors, the Oklahoma state
budget saved $1.39, a 15-cent increase from
2017 results.
The fiscal impact to the state is determined
by the tradeoff of tax revenue and the state’s
per-pupil expenditures for common education.
Every $1in Scholarship
Tax Credits
SavesOklahoma $1.51
in Spending
-
2018 ANNUAL REPORT
9
“My daughter had always attended public school, but when she started middle school the cliques and bullying started. She was in a school with almost 2,000 kids, and the student-teacher ratio was terrible. She has done astoundingly better at Immanuel Lutheran Christian Academy. We are so grateful for this scholarship.
Tonya P., Immanuel Lutheran Christian Academy”
Throughout 2018 OSF visited schools, provided training and hosted check presentation events.
-
OPPORTUNITY SCHOLARSHIP FUND
10
LOOKINGAHEADOklahoma’s scholarship-granting organizations exceeded the tax credit cap for 2017. We need legislation to ensure donors receive the full incentive they were promised. It’s a matter of fairness, and it will increase the number of scholarships we can provide.
Outside of raising awareness about our scholarships, our top priority remains asking the Legislature to raise the cap so we can help more families than ever before.
-
2018 ANNUAL REPORT
1 1
My son was born with Down syndrome and has been diagnosed with autism. Public schools are often not equipped to serve the special needs community. This scholarship makes a HUGE difference for our family. He has progressed more in one year at his private school than he did during four years at public school.
Dana H., Paths to Independence
OSF visited schools across the state to host check presentation events.
“
”
-
12
1831 E. 71 StreetTulsa, OK 74136
918.877.2710
www.osfkids.orgFollow us on Facebook: @OSFkids