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EITC & OSTC

Karen McGinley.jpg

Karen McGinley

Director of

Development

kmcginley@waldronmercy.org

610-664-9847 x 148

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

 

The process is easier than you might think! Watch above as Stripes tells you what you need to know!

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

The program is available to a wide variety of businesses including: Corporations, S-Corporations, General Partnerships, Limited Partnerships, Shareholders, partners, or members of S-Corporations, Single member of Limited Liability Company (LLC), and SPEs (Special Purpose Entity).

The program is open to businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes :

  • Personal Income Tax

  • Capital Stock / Foreign Franchise Tax

  • Corporate Net Income Tax

  • Bank Shares Tax

  • Title Insurance & Trust Company Shares Tax

  • Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)

  • Mutual Thrift Tax

  • Malt Beverage Tax

  • Retaliatory Fees under section 212 of the Insurance Company Law of 1921

Key Deadlines

  • First-time donors need to submit applications on July 1 each year. 

  • 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

 

Six Easy Steps to Participate</