EITC PA Tax Credits
Support Benchmark Scholarships & Receive Tax Credits
We're lucky to live in PA - the only state where parents can provide this kind of support to schools.
Mark Muehl, parent
Did you know you could make a Benchmark education possible to qualified students through a business or individual tax credit?
Through the Pennsylvania Educational Improvement Tax Credit (EITC), businesses and individuals who reside in Pennsylvania can earn a tax credit for up to 90% of their tax liability.
The Educational Improvement Tax Credit Program (EITC) is a way for you to make a gift to Benchmark School go even further. Pennsylvania is a unique state that permits you to direct up to 90% of your personal or corporate state tax liability toward Benchmark School.
Individuals and businesses in Pennsylvania can participate by making a minimum contribution of $5,000 per year to support tuition assistance at Benchmark School. (After you receive your tax credit, your gift will only cost you $500!) It is easy to do and requires very little time.
How can I do this?
Businesses and some individuals can participate in two different kinds of ways. The tax benefit for individuals is the same as for businesses, but the process to apply for the credits is slightly different.
How do I pursue a business tax credit?
Your business can pursue a tax credit in two ways: 1) by applying directly to the state for tax credits at the Department of Commerce and Economic Development (DCED) or 2) via a special purpose entity called BLOCS (see below). Please contact Louisa Hanshew for guidance and deadlines.
How do I pursue a tax credit as an individual? How do I pursue a tax credit as a business that doesn’t have time to apply directly to the state?
You can become part of a Benchmark special purpose entity partnership.
Special purpose entities (or SPEs), are the only financial vehicle available for individuals (or companies who do not have direct tax credit approval) to be able to realize tax credits in return for scholarship donations.
To join, an individual or company makes a 2-year commitment, (minimum of $5,000 per year), to fund the Benchmark special purpose partnership. Benchmark has partnered with a special purpose entity called BLOCS (Business Leaders of Catholic Schools).
For more information, next steps, or to connect with a Benchmark parent who already participates in PA State Tax Credit Programs through personal or business taxes, please contact Louisa Hanshew at 610-565-3741, ext. 150 or firstname.lastname@example.org.
A Note About OSTC
At this time, thanks to the generosity of our community partners, Benchmark is unable to accept additional OSTC donations this year. We look forward to being able to accept those scholarship funds in the 2021-2022 school year.
I love the fact that I can direct my PA state tax dollars to a recipient of my choice (Benchmark School) and that the school receives ten times what I donate. In prior years the EITC program had been too difficult or "out of capacity," but the process is MUCH simpler now through the BLOCS program. I plan to support Benchmark through the EITC program for many years.
Robert Driscoll, parent
We learned of the EITC program several years ago and immediately saw the benefit of being able to make a such a wonderful impact at our school while doing nothing more than steering our state tax dollars directly to a private school of our choice.
It brings us great joy to be able to make this annual contribution to support independent schools and all of the students that benefit from the education they receive from being able to attend a school better aligned with their needs.
At first, we were slightly confused at how the program worked, but we were easily guided by the school and it was a very easy process and has been for years now. We are so proud to have participated the previous 6 years and look forward to continuing!
Starr Vernon & Nagesh Kelkar, parents
As parents of a Benchmark alumnus and business owner, I love that we can direct dollars that would otherwise be paid in taxes to a school my family cares so deeply about. It's easy to apply for EITC and the cost to the donor is minimal as you get a tax credit. With the money Benchmark receives from EITC contributions, they are able to provide the education that made a huge difference for our son available to many more students.
Emily and Brian Newmark, parents
Thank You for Your Support
The following contributions from corporations and businesses through the EITC and OSTC programs enabled Benchmark families to receive more than $3.5 million in financial aid.
- AIM Scholarship 1 LLC
- AJO, LP
- Aqua America, Inc.
- Beneficial Bank
- Brock Premier Culinary Services
- Bryn Mawr Trust Company
- Burns Engineering, Inc.
- Business Leadership Organized for Catholic Schools (BLOCS)
- Central Pennsylvania Scholarship Fund
- Chek Med Systems, Inc.
- Devon Consulting, Inc.
- DNB First
- Elizco, Inc.
- Employee Benefit Specialist, Inc.
- First Niagara
- Fishman & Tobin, Inc.
- Glenmede Trust Company, NA
- Graham Partners, Inc.
- HSC Builders & Construction Managers
- Huff United
- Idyll, Ltd.
- Jewish Scholarship, LLC
- Keystone Health Plan, East
- Manufacturers & Traders Trust Co.
- Markel Corporation
- McLean Packaging Corporation
- Montgomery Avenue II LLC
- Mutual Fire Foundation, Inc.
- Neurologic Health Associates, PC
- Omni Cable Corp.
- Origlio Beverage
- PA Partners for Education, LLC
- Pennsylvania Education Partnership LLC
- Pennsylvania EITC/OSTC Scholarship #2, LLC
- Philadelphia Insurance Companies
- Pro-Tech Floors
- Republic Bank
- Ryan Advisory Services
- S & S Realty Associates, Inc.
- Silverback Educational Foundation
- SKF USA, Inc.
- SofterWare, Inc.
- Spivack & Spivack, LLC
- Stein Realty Capital, LP
- Stellar Solutions LLC
- UGI Energy Services
- UHS of Pennsylvania, Inc.
- Unisys Corporation
- Utica National Insurance Group
- Veterans Financial, Inc.
- Wilmington Trust of Pennsylvania
- Wind River Holdings, LP