EITC & OSTC

It’s like sending your state tax payment to Villa Maria instead of Harrisburg!

Villa Maria Academy High School is eligible to receive corporate gifts through two innovative programs offered by the Commonwealth of Pennsylvania: the Educational Improvement Tax Credit (EITC) program and the Opportunity Scholarship Tax Credit (OSTC) program. Companies that do business and pay corporate and other taxes in Pennsylvania can receive substantial tax credits by redirecting their state tax dollars to Villa Maria in support of scholarships for underserved and deserving students.

The EITC Program and the recently established OSTC Program, which benefits students who reside in underperforming school districts, each provide wonderful opportunities to not only the business making the donation, but also the young women who rely on this support in order to attend Villa Maria.

Tax credits start at 75% of the donation amount for a one-year contribution and increase to 90% for a two-year contribution. Tax credits can be applied to as much as $750,000 in contributions each year through both EITC and OSTC programs. Furthermore, the 25% (or 10% for two-year commitment) that is not included in the tax credit may be claimed as a charitable donation on your federal tax return, which would reduce the cost of your donation to almost nothing!

To date, businesses have donated more than $500,000 to the Marian Grant Fund, which has given us the means to offer young women an opportunity to receive an outstanding all-girls, Catholic, college preparatory education and the tools and confidence to succeed in both academics and the broader challenges of the world they live in today.

The application process for changing the course of a young woman’s life could not be simpler! Visit the EITC Website or contact the Advancement Office for more information on these programs.

Who:

C-Corporations, S-Corporations, Single & Multi-Member LLCs, and LLPs all qualify

What:

Receive a tax credit in exchange for supporting Pennsylvania students

Why:

  • Tax credits are more beneficial than deductions—it’s like sending your tax dollars to VMA instead of to Harrisburg!
  • The paperwork is a breeze—just a simple online application for each program.
  • You also receive a deduction against net income as a charitable donation.
  • Supporting a rigorous education for girls, steeped in Gospel values, is a cause that deserves our attention.

When:

  • May 17 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 21/22 to renew their 2-year commitment.
    Note: this date is typically May 15 but has been adjusted this year until the next business day.
  • May 17 – Businesses who are in the middle of their 2-year commitment.
    Note: this date is typically May 15 but has been adjusted this year until the next business day.
  • July 1 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.
  • OSTC applications are available NOW for immediate tax credits.

How:

To learn more about EITC or OSTC and how you can direct your dollars to benefit student scholarships, please contact Kathy McCartney, kmccartney@vmahs.org, 610-644-2551. She would be happy to guide you through the process or answer any questions.