EITC and OSTC Programs
The Commonwealth of Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs provides tax credits to eligible businesses and/or individuals when they make a gift that provides tuition assistance in the form of scholarships to eligible students who live in Pennsylvania.
OSTC and EITC funding makes it possible for extraordinarily gifted students who come from disadvantaged socioeconomic backgrounds or who would otherwise be unable to afford a private school education to gain the full benefits of a Grayson education.
How does it work?
Individuals/couples and/or businesses with a minimum PA tax liability of $3500 annually are eligible to participate. Tax credits can be applied against the tax liability in the year you make a contribution to an approved scholarship organization like The Grayson School. The goal of these programs are to help companies and individuals support and promote the educational interests of the children of Pennsylvania.
If your application is accepted you will need to make a donation to The Grayson School through the Central PA Scholarship Fund of $3,500, up to the amount of your annual state taxes or a maximum of $750,000. You do risk the chance of losing your credit if you choose an amount over your tax liability, so it’s important to make sure you have a clear understanding of your anticipated annual state taxes. With a two year commitment, you will receive a tax credit of 90% of your donation from Pennsylvania and a federal benefit based on your donation.
How to Apply
The Grayson School has partnered with Central PA Scholarship Fund, a Special Purpose Entity (SPE) to help our donor community participate in this program. Request an application/joinder by contacting CentralPAScholarshipFund@gmail.com or by calling 814-942-4406. Your application may be submitted at any time until December 1. Tax credits are distributed on a first come first served basis until the tax credits which have been awarded to all SPE’s by the Department of Community and Economic Development are depleted.
If you have additional questions please contact Liz Braun, Director of Development and Community Partnerships.