EITC & OSTC Programs
Educational Improvement Tax Credit (EITC) and
Opportunity Scholarship Tax Credit (OSTC) Programs
Businesses that pay certain types of Pennsylvania tax may apply for a tax credit in exchange for making scholarship contributions to schools like Shipley.
It is with great pleasure that I support Shipley through the Educational Improvement Tax Credit (EITC) Program. Not only does it make sense for INTECH from a business standpoint, but, more importantly, our participation is helping to open doors for talented students who are eager to take advantage of a Shipley education. It is such a worthwhile program; I can’t think of a reason why we wouldn’t want to participate!
William Schwartz, parent of Ali ’10 and Drew ’11, and Co-Owner of INTECH Construction
Throughout the 2014-2015 school year, Shipley has received almost $1,000,000 in EITC and OSTC scholarship funds, enabling us to assist deserving and talented students from Chester, Delaware, Montgomery, and Philadelphia counties who otherwise would not be able to afford a Shipley education.
By making a contribution to Shipley’s scholarship fund, your company can save in Pennsylvania tax as much as 90% of the value of the gift. Please take a few moments to review this opportunity with your company’s tax advisor. Your support of Shipley through the EITC and/or OSTC Programs will help the School make its educational experience available to the most capable students regardless of their financial circumstances.
- For the 2015-2016 program year, applications must be submitted electronically using DCED's Single Application for Assistance.
- Businesses must first go through a one-time registration process on the Single Application page in order to create a user name and password.
- After filing the application online, the business must submit the signature page to DCED by mail.
- Businesses must submit their applications on July 1, 2015 in order to avoid being placed on a wait list. Last year, all available EITC funding was depleted on the first day. Historically, OSTC funding has been available for a longer period of time, but submitting on July 1 is highly recommeded.
- Applications for the second year of a two-year commitment may be submitted starting on May 15, 2015.
- Businesses who have fulfilled their two-year commitment and wish to reapply to renew their two-year commitment may submit their applications starting on May 15, 2015.
- Tax credits are given for 75% of the business's contribution to the Shipley scholarship fund, up to a maximum of $750,000 annually.
- A business that agrees to make the same contribution for two consecutive tax years may receive a tax credit equal to 90% of its contribution, again up to a maximum of $750,000 annually.
- Helpful links:
For further information on the EITC or OSTC Programs, please contact:
Christopher C Farr, Director of Development
610.581.4650 or firstname.lastname@example.org
Betsy Hastings Block '83, Associate Director of Development
610.581.4655 or email@example.com