Earn Tax Credits with Your Gift
Pennsylvania has created two impactful programs that allow companies and individuals who ordinarily pay state taxes to direct their tax payments to schools like Girard College.
Funding received through this program is essential to Girard’s ability to meet our students’ educational needs through a wide variety of programs and services. In exchange, participating businesses and individuals are given a tax credit for that year by the state.
The Educational Improvement Tax Credit (EITC) program provides companies with a 75% tax credit for donations to a non-profit scholarship or educational improvement organization. The tax credit increases to 90% if a commitment to making the same donations for two consecutive years is made. A business paying taxes in Pennsylvania can receive up to $750,000 in tax credits annually. EITC provides low-income children and families, who reside in Philadelphia, with much needed tuition assistance.
The Opportunity Scholarship Tax Credit (OSTC) program provides tuition assistance to children who live within the attendance boundaries of Pennsylvania’s worst performing 15% of schools. Just like the EITC program, the OSTC program awards Pennsylvania businesses a tax credit of 75% if the gift is made for one year or 90% if the company commits to making the same donations for two consecutive years. OSTC funds are available in addition to any credits received under the EITC program.
Girard College is a qualified Scholarship Organization for both the EITC and OSTC programs.
New applications are accepted for these programs each year on July 1. Renewal applications start May 15.
EITC and OSTC are open to both businesses and individuals.
Individuals who pay $3,500 or more in PA state tax are eligible to apply.
Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes are eligible to apply:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
BLOCS is an independent charitable organization supported by individuals, companies, firms and foundations of all sizes in the five county Philadelphia region. Since 1980, BLOCS has invested in the lives of tens of thousands of children, including some of the poorest neighborhoods in Philadelphia. BLOCS serves as our guiding hand in the development of a EITC/OSTC relationship. For information on the BLOCS program, view our brochure below and visit www.blocs.org
On behalf of the entire Girard College community, we extend our deep appreciation to those corporations and individuals who support our students through the Educational Improvement Tax Credit Program (EITC) and Opportunity Scholarship Tax Credit Program (OSTC).
- Comcast Corporation
- BLOCS Foundation
- Michael Rubin, LLC
- Tony Van Veen, LLC
- Wells Fargo
- Robert Williams, LLC
- The Philadelphia Trust Company
- Philadelphia Insurance Companies
- Nexxt, Inc.
- The Bryn Mawr Trust Company
- UHS of Pennsylvania Inc.
- GTPHL, LLC.
- Fulton Bank, N.A.
- Waste Management
- UPMC Health Plan
- Bridge Educational Foundation, Inc.
Questions about the EITC and OSTC programs can be directed to:
Manager of Advancement Services and Special Events
Information provided by representatives of Girard College or the Girard College Foundation is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.