The Oklahoma Biomedical Research Tax Credit at the Stephenson Cancer Center

The Oklahoma Biomedical Research Tax Credit is a program authorized by the Oklahoma Legislature that encourages charitable contributions to qualified research institutions. The tax credit reduces your total state income tax liability by the amount of the credit and is offered in addition to state and federal charitable tax deductions.

Who Qualifies? Oklahoma income tax payers who make a charitable gift to the Stephenson Cancer Center or another qualified research institution are eligible for the tax credit. This includes individuals, couples, corporations, estates and trusts.

How much? For every $2 you give, you'll get a $1 state income tax credit. The maximum credit allowable for gifts to the Stephenson Cancer Center each year is $1,000 for individual taxpayers, corporations, estates and trusts and $2,000 for married couples filing jointly.

Any special circumstances? Gifts to support biomedical research at the University of Oklahoma are eligible for the tax credit only if the funds are administered by the Stephenson Cancer Center. There may be other cancer-related funds at the university that are not administered by the Cancer Center. For any questions, contact Stacey Maxon at (405) 271-2852.

How do I document the credit on my taxes? When you make a charitable gift to the Stephenson Cancer Center, please make the check payable to the “University of Oklahoma Foundation-Cancer Center.”

The University of Oklahoma Foundation will send you a letter in January, 2018 that will list the date(s) and amount(s) of your gift(s). When you claim this credit on your Oklahoma tax return, please be sure to enter the amount of the credit you are claiming, not your total gift amount.

Also, you will need to complete Oklahoma Tax Form 511CR (Other Credits) and note your credit on the line that reads “Credit for Cancer Research Contribution.”

This information is provided for general reference purposes only and is not intended to constitute legal or other advice or opinions on any specific matters and is not intended to replace the advice of a qualified attorney or other professional advisor. Federal and state laws change frequently and, as such, there is no guarantee as to the accuracy or completeness of the information featured herein. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a 'covered opinion' or other written tax advice and should not be relied upon for any purpose other than its intended purpose.


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University of Oklahoma Foundation Investment Performance

No matter whether the markets are up or down on any given year, the University of Oklahoma Foundation strives to maintain the purchasing power of its endowment. The long-term investing goal is to earn 8% over time, which covers the annual 5% dividend plus a 3% annual cost of living increase.

13.9

Percent return for the endowment in Fiscal Year 2017

-2.3

Percent return for the endowment in Fiscal Year 2016

5

Percent return for the endowment in Fiscal Year 2015

19.5

Percent return for the endowment in Fiscal Year 2014

10

Percent five-year annualized investment return for the endowment