Pennsylvania Tax Credit Programs

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 Waldron 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 Corporate Net Income Tax
General Partnerships Capital Stock Franchise Tax
Limited Partnerships Bank & Trust Company Shares Tax

Shareholders, partners or members
of S Corporations

Title Insurance Company Shares Tax
Single member of Limited Liablity
Company (LLC)
Insurance Premiums Tax
  Mutual Thrift Institutions Tax
  Malt Beverage Tax

Key Deadlines

  • First-time donors need to submit applications on July 1, 2017. 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 16, 2017.

Six Easy Steps to Participate

  1. For the 2017-2018 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 Alison Nolan, or 610-664-9847 ext. 127.

Donors Like You Help Waldron 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 Waldron Mercy education. Since 2006, Waldron has received nearly $1 million in EITC and OSTC contributions.

Past contributors include:

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

Contact us:

513 Montgomery Avenue, Merion Station, PA 19066 
t. 610-664-9847 
driving directions

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