Gifts for Tax Credit

By making a gift to Episcopal through the Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs, businesses redirect their PA tax dollars to Episcopal for financial aid. The application process is quick, and not only does this provide a significant benefit to students, but businesses also receive a tax credit for as much as 90% of the value of their gift in Pennsylvania State taxes.

What are EITC and OSTC?

Donations made through the Educational Improvement Tax Credit (EITC) provide financial aid to students living in low-income households who attend an eligible scholarship organization, like Episcopal.

Gifts given through the Opportunity Scholarship Tax Credit (OSTC) program support Episcopal students from low-income households who live in neighborhoods with low-achieving public schools (bottom 15% in Pennsylvania). The tax benefits of these programs to businesses are exactly the same.

How does it work?

Tax credits are available on a first-come, first-served basis, and businesses must complete a quick, single-page application each year to contribute.

  • For program year 2016-2017, tax credit applications are accepted beginning on July 1, 2016.
  • Renewal applications for donors who made a two-year commitment are accepted beginning on May 16, 2016.
  • Tax credits are given for 75% of your business’ contribution, up to a maximum of $750,000 annually.
  • A business that agrees to make a contribution to Episcopal for two consecutive tax years may receive a tax credit equal to 90% of its contribution.

Apply Now

Apply online or download the business application guide today.

Who is eligible?

Businesses authorized to do business in Pennsylvania and who are subject to one or more of the following taxes may apply for EITC and OSTC:

  • Corporate Net Income Tax • Insurance Premiums Tax
  • Capital Stock Franchise Tax • Mutual Thrift Institution Tax
  • Bank and Trust Company Shares Tax • Title Insurance Company Shares Tax
  • Personal Income Tax of S corporation shareholders or Partnership partners

How does it benefit Episcopal?

Episcopal is committed to enrolling a diverse student body from varying economic backgrounds. The EITC and OSTC programs support Episcopal’s financial aid efforts and impact students who, without the assistance of businesses like yours, would not be able to attend EA.

For more information or assistance with your application, please contact Lauren Berry ’10 at 484-424-1772 or lberry@episcopalacademy.org.

Contact


Lauren Berry '10

Assistant Director of Strategic Partnerships

484-424-1772

lberry@episcopalacademy.org

The following companies contributed scholarship support through EITC and OSTC programs:

Aqua Pennsylvania, Inc.
Brian Communications & Realtime Media
Brown Brothers Harriman & Co.
The Bryn Mawr Trust Company
Comcast
Daniel Martin, Inc. D/B/A Wilkie Lexus
First Financial Networks, Inc.
Gemini Capital Group LLC
Inverness Graham Investments, Inc.
Gregory A. Hillyard, D.M.D., P.C.
HSC Builders & Construction Managers
NewSpring Capital
Norris Sales Company
Omnicare, Inc.
Philadelphia Insurance Companies
Robert J. Kratz & Company
Rosenberg & Parker
Streamlight, Inc.
The ESS Group, Inc. [Colonial Chemical Company]
The Philadelphia Contributionship Insurance Company
UGI Energy Services
Vertex, Inc.
Warren Claytor Architects
XTL-PA, Inc.

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