PA Tax Credit (EITC)
Through participation in the Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs, businesses—and now, individuals—with significant tax liability, can earn PA tax credits when they make a contribution to a scholarship organization like Montgomery School.
Apply Online By June 30, 2020
Existing EITC donors have preference and can apply for credits between May 15 and June 30. New EITC credits cannot be applied for until July 1.
What is EITC/OSTC?
Contributions made through the Educational Improvement Tax Credit (EITC) provide financial aid to qualified students who attend an eligible scholarship organization, like Montgomery School.
Contributions made through the Opportunity Scholarship Tax Credit (OSTC) program support Montgomery students who live in neighborhoods with low-achieving public schools (bottom 15% in Pennsylvania).
When an approved individual or business agrees to participate in the program for two consecutive tax years, they may be eligible for a tax credit equal to 90% of the total contribution.
Who is eligible?
Businesses authorized to do business in Pennsylvania who are subject to one or more of 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 (excluding surplus lines, unauthorized, domestic/foreign marine)
Mutual Thrift Tax
Malt Beverage Tax
Retaliatory Fees under section 212 of the Insurance Company Law of 1921
Individuals may participate though inclusion in a Special Purpose Entity (SPE).
How does EITC/OSTC benefit Montgomery School?
Montgomery School is committed to enrolling a diverse student body from varying economic backgrounds. The EITC and OSTC programs support our financial aid efforts and impact students who, without the assistance of businesses like yours, would not be able to attend Montgomery School.
Learn more about EITC/OSTC.
The following resources may help in the application process. If you have any questions, please contact Allison Stinger, Director of Development.
Department of Community and Economic Development (DCED)
Central PA Scholarship Fund
Bridge Educational Foundation
EITC Special Purpose Entities Donor Guide
EITC Special Purpose Entities Quick Reference Sheet
Make a difference.
When you're ready to make your contribution, checks can be made to Montgomery School. Please send to the attention of Allison Stinger to Montgomery School's mailing address with a copy of the letter you received from the Commonwealth of Pennsylvania.
For more information, contact:
Director of Development
A special thank you to the following companies and individuals who have contributed scholarship support through EITC and OSTC programs in 2019:
Mr. and Mrs. Jonathan Brassington
Mr. and Mrs. Naresh Ramdas