EITC/OSTC Tax Credit Scholarships
REDIRECT YOUR BUSINESS INCOME TAX TO SCHOLARSHIPS FOR LOW-INCOME FAMILIES AT FRANKFORD FRIENDS SCHOOL!
Tax credits for tuition aid supporting FFS since 2008
Pennsylvania’s Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs enable businesses, partnerships, and S-corp shareholders to reduce their Pennsylvania state tax liability– up to $750,000 per year — and gain a charitable giving deduction on Federal taxes by making a charitable donation to support need-based scholarships at FFS.
How to participate
- Decide which program is the best fit for your organization. You can find the program information on the EITC and OSTC pages on the Department of Community and Economic Development (DCED) website or contact Joy Bowman Lim at FFS with any questions.
- Apply online via the link on the DCED Single Application page. Register for a login if you don’t already have one, and then complete the one-page online application for either the EITC or OSTC program. Please note: You will be asked to select either EITC or OSTC in this application; and, in addition, if your first choice is unavailable, whether you would like to apply for the other program. Please answer YES to this question. There is virtually no difference from the business’ perspective. FFS qualifies for both programs. Click here for the business online application guide.
- Upon receipt of your approval letter from the DCED, you have 60 calendar days from the date of that letter to make a contribution to Frankford Friends School.
Send your check to:
Frankford Friends School
1500 Orthodox St.
Philadelphia PA 19124
4. An acknowledgement will be sent upon the receipt of your check. Simply mail a copy of this acknowledgment, with the completed form that arrived with your approval letter to the PA Department of Revenue within 90 days of the date of your approval letter.
Eligible Taxes to which credits can be applied:
- Personal Income Tax
(Tax credits can be distributed through more than one level of pass through entities, as well as spousal participation).
- 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 Feeds
under section 212 of the Insurance Company Law of 1921
If you have more questions about the EITC or OSTC programs, please contact FFS’ Development Office at (215)533-5368.