Gifts for Tax Credit

Central PA Scholarship Fund | Minimum commitment of $3,500.

BLOCs | Minimum $5,000 commitment for two years.

Please contact advancement@gladwyne.org if you are interested in supporting scholarships at Gladwyne Montessori through a special purpose entity.

If your business pays any of the following taxes to the Commonwealth of Pennsylvania, the EITC and OSTC programs allow these tax dollars to be directed to scholarships:

• Personal Income Tax
• Capital Stock/Foreign Franchise Tax
• Corporate Net Income Tax
• Bank Shares Tax
• Title Insurance & Trust Company Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Tax
• Malt Beverage Tax
• Retaliatory Fees under Section 212 of the Insurance Company Law of 1912

Pass-through entities (S-Corporations, Partnerships, LLCs, etc.), special purpose pass-through entities, and C-Corporations are eligible to apply for tax credit. 

Application Process

The application process is simple. The key is meeting application deadlines since tax credits are awarded on a first-come, first-served basis until funds are exhausted. Business guidelines are available here or visit www.dced.pa.gov and search EITC business guidelines.

• Applications must be submitted electronically using DCED’s Single Application for Assistance.
• Applications for the second year of a two-year commitment are due May 15.
• Applications for businesses who have fulfilled their two-year commitment and wish to renew their commitment are due May 15.
• New applications should be submitted on July 1, 2022.

Please Note: Businesses may also elect to participate through a Special Purpose Entity. 

• The EITC and OSTC programs provides a tax credit of 75% for a one-year commitment or 90% for a two-year commitment up to a maximum of $750,000. Federal deductions may also apply. 

• The Pre-K Scholarship (PKSO) program provides a 100% tax credit for up to $10,000 and 90% of any additional amount contributed, up to a maximum of $200,000. Federal deductions may also apply. 

Gladwyne Montessori is eligible to receive two of EITC scholarship options: Scholarship Organization (SO) and Pre-Kindergarten Scholarship (PKSO) as well as OSTC scholarships (OS). By making an SO or OS donation you receive a tax credit of 75% for a one year commitment or 90% for a two year commitment. If you chose PKSO, you receive a 100% tax credit for up to $10,000 (anything over $10K is a 90% tax credit).

Please contact advancement@gladwyne.org to learn more!

Visit http://dced.pa.gov/EITC or view the DCED EITC/OSTC Overview.