“EITC and OSTC are great ways to support The Hillside School. Instead of paying my tax dollars to the Commonwealth of Pennsylvania, the program allows me to give the money to The Hillside School instead, where I know it will be used to support our financial aid program.”
– Jim Edwards, CAPTRUST Financial Advisors, Hillside Alumni Parent
Sounds too good to be true? It isn’t! Through both of these programs, businesses can receive a 75% state tax credit or a 90% state tax credit. In addition, business owners can claim a charitable deduction for the difference between the tax credit amount and the gift. For example, if you donate $5,000 to TPS each year for two years, you receive a tax credit of $4,500 per year, plus the ability to claim $500 as a charitable deduction. You can donate any amount up to $750,000.
The Educational Improvement Tax Credit program (EITC) allows qualified businesses to fulfill their state tax burden while supporting financial aid at The Hillside School. The Opportunity Scholarship Tax Credit program (OSTC) allows qualified businesses to fulfill their state tax burden while supporting low-income students who reside in low-achieving school districts in Pennsylvania.