请求的信息

EITC和OSTC

An easy 和 impactful program enabling individuals 和 企业 to turn their PA state tax dollars into need-based scholarships for Gwynedd girls

了解更多或参与, please contact Colleen Corace Connor '86, 年度捐赠总监, at 215-646-8815 or ccoraceconnor@gaschoolstrore.com.

如何申请??  这是一个 简单的 process that involves a brief conversation 和 简单的 申请从BLOCS/FCE考试.  
"An hour information session 和 15 minutes to complete a form - that's all if took for me to make an impact that will last a lifetime." Kathleen Kirk Bellwoar '81, Chair, 校董会

The Pennsylvania Educational Improvement Tax Credit (EITC) 和 Opportunity Scholarship Tax Credit (OSTC) Programs give individuals 和 business the opportunity to redirect their state tax dollars to 格温内斯仁慈学院高中 in support of need-based scholarships for qualifying students.

简而言之, the program enables you to: 1) make a substantial need-based scholarship donation at little cost to you, 2) esnure a Gwynedd education is possible for all accepted students regardless of a family's financial circumstances, 和 3) enrich our School community.

Available to 企业 since 2001 和 to individual/married jointly filing taxpayers since 2014, the programs enable participants to receive a 90% tax credit against their PA state tax liability for a two-year commitment or a 75% tax credit for a one-year commitment.

企业 can apply on their own with the state. 企业 who wish to apply must do so by May 17. New business applicants must apply by July 1. A business can apply for tax credits equal to 75% of its contribution up to a maximum of $750,每课税年度000元. Credits can be increased to 90% if the business agrees to provide the same amount for two consecutive tax years. 点击这里了解更多.

个人/已婚夫妇企业 also can easily participate by joining a special purpose limited liability company (LLC) formed by one of Gwynedd's EITC partners, Business Leaders Organized by Catholic Schools (BLOCS) 或者是  Foundation for Catholic Education (FCE考试). 下面是它的工作原理.

1. To join, you make a two- or one-year commitment to help fund an LLC, 和 sign a basic agreement. A two-year commitment gives you a 90% credit each year 和 a one-year commitment gives you a 75% credit; the remaining 10% to 25% may be claimed as a charitable donation on your federal tax return. BLOCS requires an annual contribution of $5,000 or more. 这意味着你的PA纳税义务, as an individual or jointly with a spouse, 肯定是5美元,000 or above (line 12 of your PA-40 tax form). FCE考试 requires an annual contribution of $1,000 or more.

 

2. Your first contribution is typically due at signing, 和 your second contribution is typically due on or before July 1 of the following year.
 

3. The LLC receives tax credits equal to 90%/75% of your donation amount; 和, 在二月或三月, BLOCS/FCE考试 distributes your credits on a Schedule K-1 form to apply toward your PA tax liability. There also may be additional benefits to your Federal Tax liability as they relate to Alternative Minimum Tax (AMT); please consult your tax advisor to maximize your overall potential tax savings.
 

4. Gwynedd receives a check for 90% or more of your scholarship donation, 和 all funds are used to provide tuition assistance for qualifying students in the upcoming academic year. The remaining 10% supports the mission of BLOCS or FCE考试 in providing children’s access to high quality, values-based education in Catholic schools with the greatest need.

5. The same procedure is followed f或者是 second year of a two-year commitment.

影响的例子: A couple makes their first contribution of $5,000 to fund a BLOCS Scholarship LLC. 反过来, they receive a PA Tax Credit in the amount of $4,500 (90% of state taxes owed); have the ability to claim $500 (the remaining 10% of their contribution) as a charitable donation on their federal tax return—a $185 benefit based on a 37% tax rate; 和 provide Gwynedd with up to $5,000 in need-based scholarship funds for an out-of-pocket cost of $315.