The Pennsylvania Education Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs allow individuals and businesses to redirect their PA taxes into a gift to Cardinal O'Hara to be used for financial aid. Currently, nearly 38% of O’Hara students receive EITC/OSTC support, but 65% qualify … and that need grows every year. That is why your participation in these programs is essential!
Keeping it Simple
Individuals and businesses in Pennsylvania can receive up to a 90% tax credit by donating to the EITC and OSTC programs.
To make your participation in the programs as easy as possible for you, O’Hara is partnering with BLOCS (Business Leadership Organized for Catholic Schools) for people with a tax liability starting at $5,000, and with The Foundation for Catholic Education (TFCE) for those with a liability starting at $1,000. For individuals, these two organizations provide the LLCs or SPEs the state requires in order to take advantage of the tax credit. They also assist businesses with their participation in the programs. Best of all, they each provide the one simple form you need to complete to be enrolled. For more details on BLOCS, please visit https://www.blocs.org/taxcredit, and for additional information on TFCE, please visits https://www.foundationfce.org/
Just be sure to make Cardinal O’Hara High School your designation on the form!
- To qualify, you must owe State PA taxes of at least $1,000 each year for 2-year. That’s it! (See above for which organization best meets your tax liability level.)
- With the changes in the tax laws, when you make a donation to O’Hara by redirecting your taxes through a BLOCS LLC or Foundation SPE, your potentially non-deductible state income tax becomes a deductible federal charitable contribution.
- Your EITC and OSTC money means more students have the opportunity to benefit from a transformational O’Hara education.
- Participation in this program allows you to show your Lion’s pride by becoming a major donor to O’Hara with little to no additional cost to you as an individual.
- To qualify, you must pay only one of the required state taxes. For more information you can visit https://dced.pa.gov/programs/educational-improvement-tax-credit-program-eitc/
- 75% of your contribution to O’Hara will go as a tax credit to your Business and this increases to 90% if you agree to contribute the same amount for 2 years.
- The 25% (or 10% for a two-year commitment) that is not included in the tax credit may be claimed as a charitable donation on your federal tax return.
- Participation in this program allows your business to make an investment in the future workforce by helping bright young students stay in school with little to no additional impact cost to your bottom line.