PA Tax Credit Programs
EITC & OSTC Tax Credit Program
Pennsylvania's Educational Improvement Tax Credit (ETIC) and Opportunity Scholarship Tax Credit (OSTC) Programs enable taxpayers and business owners to support schools like Walden through scholarship funds, providing educational opportunities for students in low- performing public school systems, who would otherwise be unable attend.
INDIVIDUAL PARTICIPATION THROUGH A SPECIAL PURPOSE ENTITY
Individuals are now able to participate in PA's EITC and OSTC Programs by joining a Special Purpose Entity (SPE). SPE is a new class of pass-through partnerships that exists solely to allow individuals/businesses to participate in the EITC Program. The SPE will ask that you commit for two years, based on your PA tax liability. The SPE will then donate to Walden. All members of the SPE receive a Schedule K-1 to utilize when filing their individual taxes. When an individual commits to participate for two consecutive years, they are eligible for a tax credit equal to 90% of their total contribution. The remaining 10% of the donation is then deductible as a charitable contribution.
HOW DO I PARTICIPATE?
Interested individuals should speak with their accountant or a tax specialist about the program. Walden will be happy to join the discussion, if it is helpful. Please contact us with questions or to explore potential participation.
Contributions to SPEs are made in the fall of each year. New businesses applying for tax year 2023 must submit an electronic application on July 1, 2023. Applications are approved on a first-come, first-serve basis and contributions must be made within 60 days of receipt of state approval. EA can assist with all applications.
Contact Erika Siegfried in the Development Office
esiegfried@thewaldenschool.org
610-892-8000 | 901 N. Providence rd. Media PA 19063
thewaldenschool.org
