MOSCHOLARS PROGRAM
In 2021, the Missouri General Assembly passed HB349 and SB86 which established the Missouri Empowerment Scholarship Accounts Program known as MOScholars. The law provides state tax credits for contributions to approved, non-profit Educational Assistance Organizations (EAOs). These EAOs use the contributions to award scholarships to Missouri students with Individual Education Plans (IEPs) and students living in low-income households.
The Bright Futures Fund, a 501(c)3 under the Diocese of Kansas City-St. Joseph, is designated by the state of Missouri as an Educational Assistance Organization (EAO) and awards scholarships to qualifying families in the Diocese of Kansas City-St. Joseph and the Diocese of Springfield-Cape Girardeau.
TAX CREDITS FUND MOSCHOLARS SCHOLARSHIPS
Any business or individual can re-direct up to half of their MO State income tax liability to the Bright Futures Fund with MOScholars tax credits. Put the tax dollars you are required to pay anyway towards education and a brighter future for a student!
HOW TO SUBMIT PAYMENT FOR YOUR TAX CREDIT RESERVATION
If you have already made a tax credit reservation and have received your confirmation number from the State Treasurer's office, you may submit your payment via check or electronic funds transfer (EFT). Make your reservation and mail your check by December 31 made payable to the Bright Futures Fund.
Bright Futures Fund
P.O. Box 419037
Kansas City, MO 64141
Call Christy at 816-714-2338 or email for information on how to submit via electronic funds transfer.
In 2021, the Missouri General Assembly passed HB349 and SB86 which established the Missouri Empowerment Scholarship Accounts Program known as MOScholars. The law provides state tax credits for contributions to approved, non-profit Educational Assistance Organizations (EAOs). These EAOs use the contributions to award scholarships to Missouri students with Individual Education Plans (IEPs) and students living in low-income households.
The Bright Futures Fund, a 501(c)3 under the Diocese of Kansas City-St. Joseph, is designated by the state of Missouri as an Educational Assistance Organization (EAO) and awards scholarships to qualifying families in the Diocese of Kansas City-St. Joseph and the Diocese of Springfield-Cape Girardeau.
TAX CREDITS FUND MOSCHOLARS SCHOLARSHIPS
Any business or individual can re-direct up to half of their MO State income tax liability to the Bright Futures Fund with MOScholars tax credits. Put the tax dollars you are required to pay anyway towards education and a brighter future for a student!
HOW TO SUBMIT PAYMENT FOR YOUR TAX CREDIT RESERVATION
If you have already made a tax credit reservation and have received your confirmation number from the State Treasurer's office, you may submit your payment via check or electronic funds transfer (EFT). Make your reservation and mail your check by December 31 made payable to the Bright Futures Fund.
Bright Futures Fund
P.O. Box 419037
Kansas City, MO 64141
Call Christy at 816-714-2338 or email for information on how to submit via electronic funds transfer.
How does the MOScholars Tax Credit process work?
Participants will reserve tax credits through the MOScholars online system, then make a contribution to the specified EAO, the Bright Futures Fund. The contribution will be used to fund scholarships, and the participant will receive a tax credit that can be used to offset their Missouri tax liability under sections 143 and 153.
Eligible participants in the MOScholars program include any of the following that files a Missouri income tax return and is not a dependent of any other taxpayer:
Contributors to the program can reserve tax credits, equal to 100% of an eligible contribution* for up to half of their tax liability. Tax credits may be carried forward for an additional four subsequent tax years. The tax credit is not sellable, transferable or refundable.
Eligible participants in the MOScholars program include any of the following that files a Missouri income tax return and is not a dependent of any other taxpayer:
- An individual subject to state income tax;
- An individual, firm, partner in a firm, corporation or shareholder in an S-Corp doing business in the state and subject to state income tax; and,
- An express company that pays an annual tax on its gross receipts in Missouri under chapter 153.
Contributors to the program can reserve tax credits, equal to 100% of an eligible contribution* for up to half of their tax liability. Tax credits may be carried forward for an additional four subsequent tax years. The tax credit is not sellable, transferable or refundable.
Once you have made a tax credit reservation with Missouri's Treasurer's Office, you are able to pay for that reservation via check or electronic funds transfer (EFT). Please do not use the general Bright Futures Fund donation form to pay for reserved tax credits. Additionally, per the program rules set forth by the State, these payments can only come from personal or business checks. Please call (816) 714-2338 with questions.
*Please note: In order to use the tax credits you reserve, you will need a MO-TC form when you file your taxes. The most current version of this form is available through the Missouri Department of Revenue's website once drafted by the state and you can find it through the link above. The MO-TC form is a general tax form created by the state for any tax credits available in the state.