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The Power of the Ohio Angel Scholarship

January 16, 2024

Are you familiar with the Ohio Angel Scholarship? This is something that presents a remarkable opportunity for residents of Ohio, enabling you to allocate your tax dollars towards supporting catholic schools within the state. By making such a donation, you can simultaneously reduce your overall tax liability, thereby maximizing your financial benefits.

If you know you had a tax liability on Line 10 of your 2022 Ohio income tax return, you can qualify for this amazing opportunity! This is not a donation – it is a contribution that you get back as a refund when you file OR you owe that much less in state tax. 

At Zappitelli Wealth Advisors one of the things we do when we sit down with our clients is talk to them about things they are passionate about. If we have a client that is charitably inclined, we talk them through the opportunities that come with the Ohio Angel Scholarship. 

For example, we recently helped a client donate $500 to their local Catholic school, and in return they received $500 back on their tax refund. It’s important to note that the maximum limit for donations for individuals is $750 and then $1,500 for a couple. 

If this is something you are interested in, we recommend taking a look at the Angel Scholarship Fund. Contributions to the Angel Scholarship Fund provide tuition assistance for students in need.

In other words, the state of Ohio allows you to "spend" some of the state income taxes you must pay anyway to provide tuition assistance for students seeking an education in local Catholic schools. The Angel Scholarship Fund is a win-win-win for taxpayer donors, scholarship recipients, and our diocese!

Take a look as we dive a bit further into the concept of angel investors, their significance in Ohio, and how they can help fuel dreams.

Understanding Angel Investors:
Angel investors are high-net-worth individuals who provide financial support to early-stage startups or non-profits in exchange for equity or convertible debt. Unlike traditional venture capitalists, angel investors often invest their own personal funds and bring valuable expertise and mentorship to the table.

The Ohio Advantage:
Ohio has a thriving ecosystem, with a supportive environment for businesses and charities to flourish. The state's strategic location, robust infrastructure, and access to top-tier educational institutions contribute to its attractiveness for angel investors seeking promising investment opportunities.

Benefits of Angel Investment:

  • Capital Injection: Angel investors provide crucial funding for a business or non-profit, helping leaders bring their ideas to life and navigate the challenging financial aspects. 
  • Expertise and Mentorship: Beyond financial support, angel investors can also bring valuable industry knowledge, experience, and networks. Their guidance can prove invaluable in shaping business strategies and overcoming obstacles.
  • Validation and Credibility: Securing angel investment not only provides financial backing but also serves as a stamp of approval, enhancing the charities’ or business’ credibility and attracting further investment.

If you are interested in learning more about the Angel Scholarship Fund, click here. Or give Zappitelli Wealth Advisors a call today at 440-354-0375 to see how we can help you get involved with the Ohio Angel Scholarship.