What is EITC?
To learn more about the EITC Program, please consider signing up for one of our EITC Webinars where you can understand the impact this program has on our schools and its students! Click here to sign up!
EITC
EITC is putting a Catholic Education in reach! The Educational Improvement Tax Credit (EITC) program offers a PA tax credit of 75% for a one year commitment and a 90% tax credit for a two year commitment. EITC also provides valuable tuition assistance opportunities to families who wish to provide their children a Catholic Education. Please consider supporting Foundation for Catholic Education through EITC contributions in 2015 and beyond. With EITC, you can donate $10,000 to Catholic Education with a net outlay of just $1,000!
Business Application Timeline:
• May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply to renew their 2-year commitment.
• May 15 – Businesses who are in the middle of their 2-year commitment.
• July 1 – All other businesses including Pre-K business applications. Business firms may now agree to provide the same amount of contribution to a Pre-K scholarship organization for two consecutive years.
Applications must be submitted electronically using DCED’s Single Application for Assistance.
Uses
Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
For questions about EITC donations or the application process, please contact The Foundation.
OSTC
The program provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization, such as the Foundation for Catholic Education. Business contributions are then used by Opportunity Scholarship Organizations to provide tuition assistance in the form of scholarships to eligible students residing within the boundaries of a low-achieving school to attend another public school outside of their district or nonpublic school. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation as an elementary or secondary school based upon combined math and reading Pennsylvania System of School Assessment (PSSA) scores.