Tax Credits for Scholarships
Educational Improvement Tax Credit (EITC) & Opportunity Scholarship Tax Credit (OSTC) Programs
Through participation in the Pennsylvania Education Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs, businesses - and now, individuals - with significant tax liability, can earn PA tax credits when they make a contribution to a scholarship organization like Friends' Central School. If you have a significant taxable event such as the sale of a business, contact the FCS Development Office to explore how you can make a significant gift with money you will owe in taxes.
The business application process could not be simpler. Visit the Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) state websites, or contact Matt Cohen by phone at 610-645-5039 or by email at firstname.lastname@example.org.
The Friends Collaborative
For over a decade, Pennsylvania businesses have been providing scholarship dollars to Friends’ Central in exchange for state tax credits through the Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC). Now, thanks to the Friends Collaborative, the state tax credit opportunity is also available to individuals and more businesses.
This giving opportunity returns a 90% state tax credit on contributions made two years in a row. That is a dollar-for-dollar reduction in taxes owed, and is a great way to make a large gift at a very low cost - less than 10 cents on the dollar. All EITC and OSTC donations to FCS are allocated to need-based tuition assistance.