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EITC-OSTC Program

Pennsylvania Educational Improvement Tax Credit Program (ETIC)

Quick Facts

What is it?

The Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) are Pennsylvania tax credit programs that allow PA business and individual that pay applicable taxes to received up to a 90% TAX CREDIT to be used by schools like the Mount for financial aid.

  • EITC funds provide direct support to need-based tuition assistance subsidies for Mount Saint Joseph students.
  • OSTC further augments the support options available for students whose neighborhood school is low achieving.

Who is Eligible?

Businesses in Pennsylvania that pay the following taxes:

  • Corporate Net Income Tax
  • Capital Stock/Foreign Franchise Tax
  • Personal Income Tax
  • Bank Shares Tax
  • Title Insurance and Trust Company Shares Tax
  • Insurance Premiums Tax (with some exclusions)
  • Mutual Thrift Institution Tax
  • Malt Beverage Tax
  • Retaliatory Fees under section 212 of the Insurance Company Law of 1921

As well as individuals who pay Personal Income Tax through an LLC, S Corp, or who own or are a member of an LLP.

What is 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

What are the application deadlines?

  • May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 17/18 to renew their 2-year commitment.
  • May 15 – Businesses who are in the middle of their 2-year commitment.
  • July 3 – All other businesses including initial applicants.

NOTE: Pass-through entities, such as S-Corporations, Partnerships, LLCs, etc., can now apply the same day as C-Corporations. Applications must be submitted electronically using DCED’s Single Application for Assistance.

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