Educational Improvement Tax Credit/Opportunity Scholarship Tax Credit Program: Direct Your PA Tax Dollars to NFA through these tax credit programs
The EITC and OSTC tax programs present an opportunity for companies and qualifying individuals to re-direct their PA state tax dollars to education and specifically to NFA in support of financial assistance and mission-related projects.
For important dates and info, click here.
EITC/OSTC in a nutshell:
Your taxes … your choice! Make your PA state tax dollars work for NFA through BLOCS (Business Leadership Organized for Catholic Schools) or the Henkels Foundation. Companies and individuals can redirect their tax dollars to NFA through PA’s EITC/OSTC Tax Credit Program. NOTE: NFA does not appear on the EITC/OSTC recipient list, but does receive these funds when designated to NFA through BLOCS and the Henkels Foundation.
This is your chance to support NFA’s future as an excellent school in an easy 1-2-3 process.
Any C corporation or S corporation that pays the following Pennsylvania state taxes are eligible for the EITC program:
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
- Personal Income Tax of S corporation shareholders or Partnership Shareholders
- Qualifying individuals can participate in a Limited Liability Special Entity group.
When approved, 75% of your contribution to NFA will post as a tax credit for your business. The tax credit increases to 90% if your company commits to making the same donation for two consecutive years. A business paying taxes in Pennsylvania can receive up to $300,000 in tax credits annually. Our school receives the EITC/OSTC contributions designated to NFA through 2 scholarship organizations: BLOCS (Business Leadership Organized for Catholic Schools) and the Henkels Foundation. Please note: NFA is a not a separate scholarship recipient organization; rather NFA works with these 2 groups to receive these funds.
Furthermore, the 25% (or 10% for two year commitment) that is not included in the tax credit may be claimed as a charitable donation on your federal tax return.
Please contact the Mission Advancement Office at 215-247-3811 ext. 207 or email@example.com for more information. You can also e-mail members of our EITC/OSTC committee: Eric Riethmiller ’89 (firstname.lastname@example.org) or Rob Louka, ’89 (email@example.com).
- Submit one-page application to BLOCS who will submit the application on your behalf.
- Receive an approval letter from the Commonwealth.
- Your company then makes its donation to BLOCS within 60 days.
- BLOCS will send your company a confirmation receipt.
- Your company sends this receipt back to the Commonwealth as noted in the letter.
- The Commonwealth provides your company with a letter completing the process. The letter is attached to your tax return to utilize your credit.
- Both EITC & OSTC applications are filed via a single application at www.newpa.com
- Upon approval, you have 60 days to make your gift to any of the following:
- Henkels Foundation, with a designation to Norwood-Fontbonne Academy
- Business Leadership Organized for Catholic Schools (BLOCS), with a designation to Norwood-Fontbonne Academy
100% of donations to BLOCS designated for NFA help with financial assistance and other mission-related projects.
Click here to go directly the the BLOCS website for more information, or
Click here for a short video about how to easily donate to NFA through BLOCS.
To contribute through the Henkels Foundation, you may contact JoAnne Tirpak at 215-283-7419.