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EITC & OSTC

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Amelia Kuhn

Director of

Leadership Giving

akuhn@waldronmercy.org

610-664-9847 x 114

Peg Photo.jpg

Peg Flynn

Director of

Alumni & Donor Relations

mflynn@waldronmercy.org

610-664-9847 x 131

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!

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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.

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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).

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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

  1. For the 2023-24 program year, applications must be submitted electronically using DCED's Single Application for Assistance. The application 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.

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Individual PA taxpayers can participate in this program too! In 2015-16 the law expanded the eligibility to include Special Purpose Entities (SPE). An SPE’s purpose is to utilize tax credits as a pass through for 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.

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If you are interested in participating in the tax credit programs as an individual taxpayer or business owner, please contact Peg Flynn or 610-664-9847 ext. 131.

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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.

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Past and current contributors include:

Associated Endodontists, PC
BLOCS
Colonial Electric Supply
Comcast Corporation
Datum Restoration, Inc.
Elliott-Lewis Corporation

Foundation for Catholic Education
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

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