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 takes less than 10 minutes to complete, 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. Learn more below.
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 2017-2018, tax credit applications are accepted beginning on July 3, 2017.
- Renewal applications for donors who made a two-year commitment are accepted beginning on May 15, 2017.
- 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.
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 EITC/OSTC 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.
Get a glimpse of how EITC/OSTC programs benefit EA students here.
For more information or assistance with your application, please contact Lauren Berry ’10 at 484-424-1772 or firstname.lastname@example.org.
Make an impact.
When you're ready to make your gift, checks can be made to The Episcopal Academy and sent to the attention of Lauren Berry.
For more information, please contact:
Lauren BerryAssistant Director of Strategic Partnerships
The following companies contributed scholarship support through EITC and
Aqua Pennsylvania, Inc.
Brian Communications & Realtime Media
Brown Brothers Harriman & Co.
The Bryn Mawr Trust Company
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
Norris Sales Company
Philadelphia Insurance Companies
Robert J. Kratz & Company
Rosenberg & Parker
The ESS Group, Inc. [Colonial Chemical Company]
The Philadelphia Contributionship Insurance Company
UGI Energy Services
Warren Claytor Architects