EITC & OSTC

Karen McGinley
EITC/OSTC Contact
kmcginley@waldronmercy.org610-664-9847 x 148

Waldron Mercy Academy can provide your company with a substantial tax credit through the Educational Improvement Tax Credit (EITC) Program and the Opportunity Scholarship Tax Credit (OSTC) Program.

The EITC and OSTC programs enable businesses to redirect Pennsylvania tax dollars to Waldron Mercy in support of financial aid scholarships for talented students. These are not deductions, but rather direct credits that offset your business’ tax liability.

Your gift to WMA could cost you only 10 cents on the dollar. A two-year commitment of support qualifies your business for a 90% tax credit. Participants can gift up to a maximum of $750,000 annually per program. The program is available to a wide variety of business and tax categories including:

BUSINESS
TAX CATEGORIES

S Corporations

General Partnerships

Limited Partnerships

Shareholders, partners or members

of S Corporations

Single member of Limited Liability

Company (LLC)

Corporate Net Income Tax

Capital Stock Franchise Tax

Bank & Trust Company Shares Tax

Title Insurance Company Shares Tax

Insurance Premiums Tax

Mutual Thrift Institutions Tax

Malt Beverage Tax

Key Deadlines

  • First-time donors need to submit applications on July 3, 2018. Available funding is routinely depleted on the first day.

  • Second-time donors (year two of a two-year commitment and renewing applicants looking to establish another commitment) need to submit applications on May 15, 2018.

 

Six Easy Steps to Participate

  1. For the 2018-2019 program year, applications must be submitted electronically using DCED's Single Application for Assistance. The applications supports participation in both EITC and OSTC programs.

  2. Await approval (may take up to six weeks).

  3. Make a donation to Waldron Mercy Academy.

  4. Waldron Mercy will send a confirmation receipt to the donating company.

  5. Donating company sends copy of receipt to the state.

  6. Final confirmation letter from state is received and attached to donating company's tax return.

 

Useful Resources

 

Please take a few moments to review this opportunity with your company’s tax advisor. Our staff is ready to assist you with the application process and to provide you with more details on the program.

*New* Since 2015-2016, individual PA taxpayers can participate in this program too! The law expanded the eligibility to include Special Purpose Entities (SPE). An SPE’s purpose would be to utilize tax credits as a pass through for their personal income tax liability. Essentially, an individual becomes a member of an SPE or partners with other individuals to create a new SPE. The SPE applies to the tax credit programs and then passes the tax credit on to its membership to be used for their personal income tax liability.

If you are interested in participating in the tax credit programs as an individual taxpayer or business owner, please contact Mark Murray, or 610-664-9847 ext. 115.

Donors Like You Help WMA Make A Difference

Thanks to the generous support of our corporate partners and local businesses, dozens of qualified families have received tuition assistance, allowing many students who otherwise could not afford it to receive a high-quality Mercy education. Since 2006, Waldron Mercy has received nearly $1 million in EITC and OSTC contributions.

Past contributors include:

Associated Endodontists, PC
BLOCS
Colonial Electric Supply
Comcast Corporation
Datum Restoration, Inc.
Elliott-Lewis Corporation
Independence Blue Cross
Maguire Enterprises 
Mayo Group
McCloskey Financial Group, LLC
Philadelphia Insurance Companies
Philip Rosenau Company, Inc
Solare America
UGI Storage Company
Waste Management

TOGETHER, WE ARE

Waldron Mercy Academy

Waldron Mercy Academy, a Catholic school sponsored by the Sisters of Mercy, is a diverse, faith community rooted in the gospel values of mercy and justice. We are a school where the joy of discovery inspires serious study, social responsibility, and strong faith.

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