How it works
Mount is partnering with BLOCS (Business Leadership Organized for Catholic Schools), as well as the Foundation for Catholic Education, to make it easy for you to participate in this incredible program. Individuals who wish to support the Mount while taking advantage of these PA tax credits can do so by becoming a member of a BLOCS or Foundation for Catholic Education LLC.
BLOCS
To qualify, an Individual needs to become a member of the BLOCS LLC by signing an operating agreement.BLOCS will provide an operating agreement electronically via DocuSign that can be executed to become a member.
- The agreement will require a two year commitment to fund the LLC.
- An individual must owe State PA taxes of at least $5,000-7,000 (approx. annual income base of $166-$228,000) each year for 2 years to qualify for the EITC program and must be considered an “accredited investor”.
- The first year capital contribution, of the two-year commitment, is due at signing. The individual will make the contribution to BLOCS and BLOCS will issue the individual a “K1” form. The K1 at the State level is considered a tax credit, under the OC “other credits”, thus reducing your state tax liability. Your second contribution is due approximately one year later and will be processed in the same manner.
For more details, please visit https://blocs.org/personal-tax-credits/
Foundation for Catholic Education
The Foundation also requires a two year commitment to fund the LLC; however, an individual must owe State PA taxes of at least $1,000 for each year for 2 years to qualify for the EITC program.
For more details about getting involved with a Foundation LLC contact Judi Neeld, Director of Development, at jneeld@foundationforcatholiceducation.org.