PA Tax Credit Programs
EITC & OSTC
Did you know that through the Pennsylvania Educational Improvement Tax Credit (EITC) and the Pennsylvania Opportunity Scholarship Tax Credit (OSTC), businesses and individuals in the Commonwealth can earn a tax credit for up to 90% of certain Pennsylvania taxes when they make a donation to a scholarship organization such as Benchmark School?
Funds received under these programs provide direct support to our need-based tuition assistance program. Benchmark awards nearly $2M in financial aid to about 38% of our families every year. The PA tax credit programs are instrumental in enabling us to provide a transformative education to those who would be otherwise unable to afford Benchmark School’s tuition.
Learn more about EITC at BEnchmark School
ESTIMATE YOUR CONTRIBUTION AND BENEFIT
To estimate your gift through the PA tax credit programs, as well as the state credit and federal deduction you could receive, enter your taxable income in Pennsylvania and your filing status below. If the minimum yearly donation is at least $5,000, you are eligible to enroll in the program. Adjust the yearly donation amount, to see what the actual cost to you will be after the credits and deductions have been applied.
Please note: This calculator is for informational purposes, and Benchmark School recommends consulting your tax professional if interested in the PA state tax credit programs.
EITC Calculator
How to Participate
Individuals and businesses are able to participate in Pennsylvania’s EITC program by joining a SPE (Special Purpose Entity) that has already applied for tax credits from the state. You would determine your tax liability for the year, and then we can then help you find a SPE that is able to receive that money (and transfer to Benchmark). There are a number of SPEs you can join, and some have a minimum donation requirement, but it is also dependent on how much money in tax credits they have to fill. Here are just a few that we have worked with in the past:
BLOCS
Central PA Scholarship Fund
Friends of Education
Pennsylvania Education Partnership
Whether you need more information or are ready to enroll, please email Lauren Ainsworth in Benchmark’s Development Office or call 610-565-3741 x149.
Frequently Asked Questions
- WHAT IS THE DIFFERENCE BETWEEN A CREDIT AND A DEDUCTION?
- What is the difference between EITC and OSTC?
- DO BOTH SPOUSES NEED TO ENROLL?
- DOES THIS IMPACT MY PENNSYLVANIA STATE WITHHOLDING?
- WHAT IS THE APPROPRIATE LEVEL OF PARTICIPATION?
- DO I NEED TO EARN A PARTICULAR INCOME TO QUALIFY?
- WHERE DO I OBTAIN AN APPLICATION/JOINDER?
- WHEN DO I SUBMIT MY APPLICATION/JOINDER?
- HOW DOES BENCHMARK RECEIVE MY CONTRIBUTION?
- WHEN WILL I RECEIVE DOCUMENTS TO FILE WITH MY INCOME TAXES?
WHAT IS THE DIFFERENCE BETWEEN A CREDIT AND A DEDUCTION?
What is the difference between EITC and OSTC?
DO BOTH SPOUSES NEED TO ENROLL?
DOES THIS IMPACT MY PENNSYLVANIA STATE WITHHOLDING?
WHAT IS THE APPROPRIATE LEVEL OF PARTICIPATION?
DO I NEED TO EARN A PARTICULAR INCOME TO QUALIFY?
WHERE DO I OBTAIN AN APPLICATION/JOINDER?
WHEN DO I SUBMIT MY APPLICATION/JOINDER?
HOW DOES BENCHMARK RECEIVE MY CONTRIBUTION?
WHEN WILL I RECEIVE DOCUMENTS TO FILE WITH MY INCOME TAXES?
Supporting Organizations
Since 2012, contributions from these businesses through Pennsylvania's tax credit programs have provided more than $6 million in tuition assistance to families at Benchmark School:
AIM Scholarship 1 LLC
AJO, LP
Aqua America, Inc.
Becker & Frondorf
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.
Comcast
Deb Capital LLC
Devon Consulting, Inc.
DNB First
Elizco, Inc.
Employee Benefit Specialist, Inc.
EPM Apparel LLC
First Niagara
Fishman & Tobin, Inc.
Friends of Education LLC
Glenmede Trust Company, NA
Graham Partners, Inc.
Harmelin Media
HSC Builders & Construction Managers
Huff United
Idyll, Ltd.
Jewish Scholarship, LLC
Keystone Health Plan, East
Manufacturers & Traders Trust Co.
Markel Corporation
Math-U-See
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
WSFS Bank
CONTACT
Lauren Ainsworth
Director of Development
610-565-3741, ext. 149