Moving Forward Together
Our community is strongest when we work together.
We know that there are families who will need additional or unexpected financial support to remain a part of our community in the coming year, and we are committed to doing all that we can so that we may all remain together.
We need your help to ensure that we are in a position to support those families who have been impacted the hardest during this unprecedented moment in history and this is most easily accomplished through our tuition assistance program.
Whether you choose to make an outright donation, or explore redirecting your 2020 individual or business PA taxes to students at Gladwyne Montessori, your partnership and generosity means the world to us.
When you redirect your PA tax dollars to benefit scholarships for children at Gladwyne Montessori, you are giving a child the gift of time spent learning at Gladwyne Montessori. One simple decision...one short application...that's all it takes.
Thanks to Pennsylvania's Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC), businesses and individuals may earn a tax credit when they direct their taxes to a scholarship organization such as Gladwyne Montessori.
- Participation Information: For Individuals
- Participation Information: For Businesses
- Suggested Special Purpose Entities (SPEs)
- How much tax credit will I receive?
- Which programs benefit Gladwyne Montessori?
- Learn More
Individuals can participate by joining a Special Purpose Entity (SPE) as an “accredited investor” and participating with their personal tax liability. Joining a Special Purpose Entity will require a short joinder agreement confirming eligibility and anticipated level of participation.
Once accepted, participants will write a check directly to the Special Purpose Entity, restricting scholarship funds to Gladwyne Montessori.
The SPE then receives tax credits equal to 90% of the donation amount, which are distributed on a K-1 according to each member’s % interest in the LLC. These credits can then be applied to your PA tax liability by your accountant. Federal tax benefits may also apply.
Gladwyne Montessori awards scholarships and receives funds directly from the SPE.
Please contact Molly Robbins at firstname.lastname@example.org if you are interested in joining a SPE.
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.
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, 2020.
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).
- Who determines tuition assistance awards?
- How can I apply for tuition assistance for the 2020-21 year?
- My family is experiencing a hardship right now. What can we do?
Gladwyne Montessori utilizes a third-party organization, the School and Student Service for Financial Aid (SSS), which, based on the financial documentation submitted by the applying family, recommends an financial award amount to Gladwyne Montessori. The school’s Tuition Assistance Review Committee then makes final decisions based upon the SSS recommendation, available financial aid resources for distribution, and any special circumstances of the family when making final award decisions.
Tuition assistance is based on a number of factors including the total funds available for all students, the number of applicants, and their relative demonstrated need. Tuition assistance must be applied for every year. All tuition assistance information and communications are held in strict confidentiality.
Gladwyne Montessori receives financial aid applications on a rolling basis and encourages all families who need support - whether due to their ongoing financial situation or short-term challenges - to apply. To apply, please go to SSSbyNAIS.org. All tuition assistance information and communications are held in strict confidentiality. Use our tuition assistance checklist to ensure you complete all items for your application.
If you have questions, do not hesitate to contact Chief Financial Officer, Michael Dyson in the Business Office.
We recognize that COVID-19 has presented challenges on many fronts. As such, Gladwyne Montessori’s Board of Trustees has established a COVID-19 Task Force that will help focus on the needs of our parent community and school during this time.
If your student or family is experiencing significant educational and/or financial hardships, please complete this form so that we can see how we can best work together to support you.