EITC-OSTC Program 

Pennsylvania Educational Improvement Tax Credit Program (ETIC) 

Pennsylvania Opportunity Scholarship Tax Credit Program (OSTC)

What is it?

  • EITC is a state program that enables your business to redirect state tax dollars to Mount Saint Joseph Academy
  • Funds received under this program provide direct support to need-based tuition assistance subsidies for Mount Saint Joseph students
  • OSTC is a state program that further augments the support options available for students whose neighborhood school is low achieving

Eligibility

  • Any C Corporation or S Corporation that pays the following Pennsylvania state taxes is eligible for the EITC program:
    • Corporate Net Income Tax
    • Capital Stock Franchise Tax
    • Bank and Trust Company Shares Tax
    • Title Insurance Companies shares Tax
    • Insurance Premiums Tax
    • Mutual Thrift Institution Tax
    • Personal Income tax of S corporation shareholders or Partnership Shareholders

The Benefit to You

  • 75% of your contribution to Mount Saint Joseph Academy will go as a tax credit to your Business
  • This increases to 90% if you agree to contribute the same amount for 2 years
  • The 25% (or 10% for a two year commitment) that is not included in the tax credit may be claimed as a charitable donation on your federal tax return

How to Apply

  • Both EITC & OSTC applications are filed via a single application at www.newpa.com
  • Upon approval, you have 60 days to make your gift to any of the following:
    • Mount Saint Joseph Academy Scholarship Fund
    • Henkels Foundation, with a designation to Mount Saint Joseph Academy
    • Business Leadership Organized for Catholic Schools (BLOCS), with a designation to Mount Saint Joseph Academy

Application Deadlines

  • May 16 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 16/17 to renew their 2-year commitment.

  • May 16 – Businesses who are in the middle of their 2-year commitment.
  • July 1 – All other businesses including initial applicants.

Participating Companies

Below are some of the companies that have donated to the Mount through the EITC/OSTC Program:

  • AF&L Insurance Co.
  • AJO, LP
  • Apex Mortgage
  • Bravo Foundation
  • Carr & Duff
  • Chadwick Service Co.
  • Direct Image and Design
  • Driscoll Construction
  • Equus Capital Mangement, Ltd.
  • First Priority Bank
  • Firstrust Bank
  • HiFi House
  • J.P. Mascaro & Sons
  • Matthew 25 Management Corp.
  • Morris Capital Management Group
  • Movers Specialty Services, Inc.
  • NSM Insurance Group
  • Penn Liberty Bank
  • The Pennsylvania Trust Co.
  • PTR Baler and Compactor Co.
  • D. M. Sabia & Co., Inc.
  • Vault Communications

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