EITC & OSTC
Tax Credit Scholarship Programs
The Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) are Pennsylvania tax credit programs that allow Pennsylvania businesses that pay applicable taxes, as well as individuals who pay personal income tax through LLC, S Corp, or who own or are a member of an LLP, to receive up to a 90% TAX CREDIT to be used by schools like Nazareth Academy High School for financial aid.
How it works:
The process is easy! You can apply for one or two years of credit. Click Here to learn more about the application process. For a one-year commitment, you will receive a tax credit for 75% of your contribution. For two years, you will receive a tax credit for 90% of your contribution. There is no minimum to participate and businesses can receive up to $750,000 in tax credit annually.
Upon approval, you have 60 days to make your gift to Nazareth.
Contact our Advancement Office at 215.268.1023 for more information on the ways you can give your EITC/OSTC gift.
Who can apply?
Business in Pennsylvania that pay the following taxes:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (with some exclusions)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921