Giving

EITC & OSTC Programs

Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC)

A gift to SCH Academy can provide your company with a substantial tax credit through the Pennsylvania Educational Improvement Tax Credit Program (EITC) or the Opportunity Scholarship Tax Credit (OSTC). By making a contribution to SCH’s scholarship fund, a company can receive PA state tax credits equal to 75% of its contribution(s) up to a maximum of $750,000 per taxable year. This can be increased to 90% of the contribution, if a company agrees to provide the same amount for two consecutive tax years. Your support of SCH through the EITC/OSTC program will help in the school’s efforts to make its educational experience available to the most capable students regardless of their financial circumstances.

FAQ for EITC and OSTC Tax Credit Program

List of 4 items.

  • Who's eligible?

    Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
    • Corporate Net Income Tax
    • Capital Stock/Foreign Franchise Tax
    • Bank Shares Tax
    • Title Insurance and Trust Company Shares Tax
    • Insurance Premiums Tax
    • Mutual Thrift Institution Tax
    • Gross Receipts Tax
    • Tax under the Insurance Company Law of 1921
    • Personal Income Tax of S-Corporation shareholders or Partnership partners
  • What is the business application timeline?

    On May 15, businesses who fulfilled their two-year commitment can reapply to renew their two-year commitment. Businesses in the middle of their two-year commitment can renew for a second year.

    On July 1 all other businesses can apply.
  • How do I participate/apply?

    Simply apply to the Department of Commerce and Economic Development (DCED) for the Educational Improvement Tax Credit program (EITC) or the Opportunity Scholarship Tax Credit (OSTC).
    • Applications are only accepted online.
    • All applications are approved on a first-come, first-served basis by date received.
    • Applications for 2017-2018 will be accepted beginning July 3, 2017.
    To apply: EITC
    To apply: OSTC
  • How is the OSTC different from the EITC?

    The EITC provides tax credits for gifts given in support of financial aid students while the OSTC more specifically provides support for financial aid students from low-achieving school districts. These are districts with public schools that perform in the bottom 15% of Pennsylvania schools. The OSTC provides qualified students within these districts with opportunities to receive a quality education from top level institutions. The budget and application for the OSTC is separate from the EITC; businesses may apply for both programs within a given year.

Support an SCH Academy Scholarship

The Educational Improvement Tax Credit (EITC) program was established in 2001 by the PA legislature to encourage Pennsylvania businesses to use their tax dollars to support education if the company pays any of the following PA state taxes:
  • 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
  • Insurance Company Law of 1921
  • Personal Income Tax of S corporation shareholders or Partnership partners

Questions?

For more information about giving to Springside Chestnut Hill Academy through EITC or OSTC, please contact Lynn Burke at 215-261-6754.