Tax Credit NEW
Your Tax Dollars, Your Choice
This is your chance to receive a 90% tax credit while supporting the future of St. James School in an easy process.
By redirecting your state tax dollars to St. James School through Pennsylvania’s Opportunity Scholarship Tax Credit Program (OSTC) and Educational Improvement Tax Credit Program (EITC), businesses and individuals have an opportunity to make a tremendous impact on the educational trajectory of children residing in the Allegheny West neighborhood of North Philadelphia. OSTC and EITC allows you to invest in tomorrow, and helps provide much needed tuition assistance to our students.
Participating is simple. Commit to a two-year scholarship gift to St. James, and you receive a state tax credit of 90%. That’s It!
Check Your Eligibility
Any tax-paying business doing business in Pennsylvania.
Individuals who pay $3,500 or more in state taxes and are employees, owners, or shareholders of businesses authorized to operate in PA. This includes non-profit employees or retirees.
Join a SPE
Join a Special Purpose Entity (SPE) made up of a group of donors interested in diverting their state taxes to scholarships. The SPE’s manager applies for tax credits from the state to pass onto members.
Write a Check
Makes a contribution of at least $3,500 to the SPE and commit to give the same amount the next year.
Frequently asked questions
Who is eligible to participate?
- You must be an employee, owner, or shareholderof a business authorized to do business in Pennsylvania. This includes non-profit employees and retirees as long as you own stock in a business that operates in PA.
- You must commit to give the same amount for two years.
- You must owe at least $3,500 in state taxes annually.
If I'm eligible, am I guaranteed a tax credit once I apply?
Tax credits are available on a first-come, first-serve basis for contributions made through SPE’s like ours. Apply early to make sure you get a tax credit this year!
What’s the difference between EITC and OSTC?
The EITC program provides tuition assistance support to qualified students from low income households. The OSTC program is slightly more restrictive, in that the students must also live in school districts ranked in the bottom 15% in Pennsylvania. The tax benefits of these programs are exactly the same.
The budget and application for both programs are separate; businesses may apply for both programs within a given year.
What are Special Purpose Entities (SPEs)?
Special Purpose Entities (SPEs) are used in Pennsylvania to aggregate contributions from individuals interested in the Education Improvement Tax Credit (EITC) or Opportunity Scholarship Tax Credit (OSTC) programs.
Will my entire contribution directly support St. James School?
Yes, all you have to do is indicate on your joinder that you would like your contribution to go to “St. James School.”
What Does the St. James partner do? Do they charge anything?
- CPSF handles all the paperwork related to applying for the credits and will send you the tax form you need.
- The program is increasingly popular. It is available first-come-first-serve, and the sooner you can submit your paperwork, the better.
- CPSF does not take out any fees. They will pass along 100% of your donation to St. James School.
- To join, you will need to review and sign a joinder agreement indicating your commitment amount. (Accepting now!)
Learn more at www.pennsylvaniaeitc.org
How do I apply?
Simply apply to the Department of Commerce and Economic Development (DCED) for the Educational Improvement Tax Credit program (EITC) or the Opportunity Scholarship Tax Credit (OSTC).
- Applications are only accepted online.
- All applications are approved on a first-come, first-served basis by date received.
What happens after I apply?
The Department of Community and Economic Development (DCED) will send an approval letter to businesses that have been awarded tax credits. Please note that the timing of these letters varies from year to year. We will be in contact with businesses who have let us know about their application when there are any updates from DCED.
From the time the letter has been received from DCED, the business has 60 days to send its philanthropic contribution to their SPE.
St. James School will issue a gift acknowledgement receipt which the business must send to the DCED within 90 days of the original approval letter. After sharing this written acknowledgement with the DCED, the business will receive the amount of tax credits outlined in the original approval letter.
Should I fill out the joinder in full, even if I am uncertain about the amount that I will be paying in PA state taxes?
Can I adjust the amount listed on my joinder once a new calendar year begins?
We hope that individuals will make a two-year commitment to support student scholarships at St. James School through contributions to the Central Pennsylvania Scholarship Fund. You will be reminded to reapply after January 1 and fill out a new joinder for the year ahead, at which point you can adjust the amount listed.
Is the other 10% of my contribution tax deductible?
Yes, the other 10% of your contribution qualifies as a federal charitable donation, if you itemize your deductions at tax time.
Helpful Documents and Links
Don’t miss the opportunity to participate with over 70 fellow donors by providing scholarships to nearly every St. James student!
“The program is remarkable. It allows us to support a wonderful school in a financially advantageous way. You can direct 90% of the money you would otherwise pay to the state in income taxes to St. James. It really is a no-brainer!”
By God’s Grace, we were blessed with the resources to support the St. James School, which holds such a special place in our hearts: the school’s founding principles, their dedication to the entire student’s family, their commitment to the spiritual life of the neighborhood, their interest in students’ lives well after graduation — not to mention the enduring influence of the inimitable Audrey Evans — are each so meaningful to us.
So, giving by way of the tax-credit program was an easy decision for us to have made. After all, who wouldn’t want to direct their tax dollars to students who are eager to learn but lacking the resources to do so?
And the process itself was also so easy. Working with the St. James School’s scholarship partner couldn’t have been simpler, and we were able to also make just a one-year rather than two-year commitment. It’s a time-tested program, we know it works, and we’ve been thrilled with its results.”
Current St. James Tax Credit Champions
- The Rev. Frank Allen & Dr. Amy Allen
- Matt & Lori Espe
- Gordon & Patricia Fowler
- Dr. Corrina Franklin & Dr. Rey Ramirez
- Roger & Chrisy Jones
- David Kasievich & The Rev. Andrew Kellner
- Susie & Michael Lastowski
- Kathryn & Mark Miani
- Bill & Karen Mignucci
- Steve & Allyson Ross
- Karl Schoettle
- Laura & Thomas Sibson
- David & Laura Thayer
- Jay & Jo Ann Townsend
- Joe & Laney Vogt
- Jeffrey & Gillian Waldron
- Todd & Tina Whitlow
Tax credits are available on a first-come, first-serve basis
Apply early to make sure you receive your tax credit and to make sure St. james can benefit from this fantastic program!