EITC/OSTC Tax Credits

  • The Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) program is a unique way for corporations, as well as, small businesses to support Roman Catholic High School. For a one year commitment, businesses receive a tax credit of 75% of their contribution. However, businesses receive a tax credit of 90% of their contributions.

    It is easy for your business to participate.

    First, your company needs to submit their application to BLOCS, a scholarship organization who facilitates this program for Roman.

    Once the state approves your application, the corporation needs to make their gift to BLOCS, designated to Roman Catholic High School, within 60 days. Each year, a finite amount of tax credits are made available, and tax credits are awarded to businesses on a first-come, first-served basis.

     SAMPLE DONATION

    Donation to Roman Catholic High School $10,000
    PA Tax Credit (2 year pledge)               $9,000
    PA Tax Savings from Contribution       $307
    (3.07% Tax Rate)
    Net Federal Tax Reduction for Contribution $243
    (35% Tax Rate)
    Out of Pocket Cost       $450

     

     

    To participate in this exciting program or for more information do not hesitate to contact us at 215-627-5487 ext . 312.

CLOSE