PA Tax Credits

EITC & OSTC: Supporting Benchmark Scholarships since 2002

The Pennsylvania State Tax-Credit Programs (EITC and OSTC) enable Pennsylvania businesses to direct their Pennsylvania state tax dollars directly to Benchmark's scholarship program. Tax credits are given for 75% of a one-year gift and 90% of gifts given in two consecutive years.

EITC Program

Enacted by the Pennsylvania legislature in 2001, the Educational Improvement Tax Credit Program (EITC) provides a tax credit to businesses directing their corporate income tax to independent schools that provide tuition assistance to eligible students.  


OSTC Program

In 2012, Pennsylvania created a second program, the Opportunity Scholarship Tax Credit (OSTC), to offer further support for students whose neighborhood public school is determined by the State to be low-achieving.


How You Can Easily Participate, Benefit and Contribute

Apply to the Department of Commerce and Economic Development (DCED). For forms and information click here or call the DCED office at 717-787-7120.

Designate a gift to the Benchmark School Scholarship Fund through the EITC or OSTC. By applying the donation as a tax credit against your Pennsylvania State Tax, you will save as much as 90% in PA Tax and receive a Charitable Deduction on your Federal Income Tax. If your company pays one of the following taxes, it is eligible for participation in the EITC and OSTC programs:

  • Corporate Net Income Tax (CNIT)
  • Subchapter S Corp./Personal Income Tax
  • Bank & Trust Company Shares Tax
  • Title Insurance Company Sales Tax
  • Insurance Premiums Tax
  • Mutual Thrift Institutions Tax
  • Capital Stock Franchise Tax

Benefits to Benchmark School

Your support of Benchmark through the EITC and OSTC programs helps us provide outstanding educational experiences for bright students who have yet to reach their academic potential and enhances our ability to influence educational experiences for children throughout the Delaware Valley and beyond. In addition, it increases Benchmark's ability to create a richly diverse community and make possible funding of other projects and school improvements.
 
We encourage you to consider these programs, find out more about them at www.newpa.com, and review this opportunity with your tax advisor.

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 $2,280,327 in financial aid. 

  • AJO LP
  • Aqua America, Inc.
  • American Manufacturing Corporation
  • The Beneficial Bank
  • Burns Engineering
  • The Bryn Mawr Trust Company
  • Chek Med Systems, Inc.
  • Devon Consulting, Inc.
  • DNB First
  • Elizco, Inc.
  • Employee Benefit Specialist, Inc.
  • First Niagara Bank
  • Fishman & Tobin, Inc.
  • Graham Partners, Inc.
  • Idyll, Ltd.
  • HSC Builders & Construction Managers
  • Markel Corp.
  • McLean Packaging Corp.
  • The Mutual Fire Foundation, Inc.
  • Neurologic Health Associates, PC
  • Origlio Beverage
  • Omni Cable 
  • Philadelphia Insurance Companies
  • SKF USA, Inc.
  • S&S Realty Associates, Inc.
  • Stein Realty Capital, LP
  • Unisys Corporation
  • Universal Health Recovery Center
  • Veterans Financial, Inc.
  • Wilmington Trust Company of Pennsylvania

CONTACT


Louisa Hanshew
Director of Development

Kim Graham
Associate Director of Annual Giving