Pennsylvania State Tax-Credit Programs: EITC and OSTC

Supporting Benchmark Scholarships since 2002
 
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.
 
The EITC and OSTC programs 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.
 
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.
 
View our 2015-2016 Impact Report of Voluntary Support here  
  
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
For more information, please contact Louisa Hanshew in the Development Office: 610-565-3741, ext. 150.