The following PA taxes qualify for OSTC Tax Credits: State Tax on S-Corporation, K-1 income (total income is eligible for tax credit) State Tax on C-Corporation Net Income State Tax on Capital Stock Bank and Trust Company Shares Tax Title Insurance Companies Shares Tax Insurance Premiums Tax or Mutual Thrift Institutions Tax or a tax under Article XVI of the Act of May 17, 1921
Dear Friends: Father Judge High School, in association with BLOCS (Business Leadership Organized for Catholic Schools), is excited to announce that the Pennsylvania Legislature has passed the Opportunity Scholarship Tax Credit (OSTC). Through this new program, the state will distribute $millions in tax credits to businesses that contribute to organizations such as BLOCS, that are certified by the state as Opportunity Scholarship Organizations. Businesses can contribute to BLOCS and direct their donations to the school(s) of their choice. BLOCS then provides this financial support to students and families seeking a quality education. Contributions through OSTC are now one of the best educational support resources in the state. Together, BLOCS and Father Judge High School will work to ensure that this program positively assists those young men who attend, or wish to attend, our great school. I hope you will consider being our partner is educating the young boys of Philadelphia in the Salesian traditions of St. Francis De Sales. In Salesian Spirit & Crusader Pride,
Rev. Joseph G. Campellone, OSFS President PS: Tax credits are issued on a first-come, first-served basis. Be sure to act fast!
Important Facts Related: • In addition to the $400,000 allowed under the EITC program, companies can apply with the Department of Community and Economic Development (DCED) for up to $400,000 in OSTC tax credits. • Businesses that make a one-year donation to BLOCS may receive a 75% tax credit. Businesses that make a two-year commitment to BLOCS may increase their tax credit to 90%. • If a company contributes for a two-year period and a 75% tax credit for a one year contribution period, it may elect to receive a 90% tax credit. • If a business does not make its contribution within 60 days of the date on the approval letter, or the department does not receive proof of contribution within 90 days of the letter, the approval of tax credits will be rescinded. • Students can receive up to $8,500 in tuition assistance. • Special education students can receive up to $15,000 in tuition assistance. Application Process Please note: Applications must be submitted electronically. The OSTC Program is administered by the PA Department of Community & Economic Development. Businesses can apply through an online single application available at: https://www.newpa.com • Under Popular Topics, click on Opportunity Scholarship Tax Credit • Under How to Apply, click on Apply • At the bottom of the screen, click on Go To Single Application • Click on Register
Businesses that contribute to Opportunity Scholarship Organizations approved by the Pennsylvania Department of Community & Economic Development (DCED) are eligible for the tax credit. BLOCS is approved by the DCED as an Opportunity Scholarship Organization.
? BUSINESS LEADERSHIP ORGANIZED FOR CATHOLIC SCHOOLS – BLOCS – is an independent charitable organization supported by companies, foundations, and individuals in the five-county Philadelphia region. BLOCS is committed to giving children access to a high quality, values-based education in Philadelphia area Catholic schools. BLOCS awards thousands of scholarships to students each year through the Pennsylvania EITC and OSTC programs to support education, including Bright Futures, the Urban Endowment Initiative, and Emergency Scholarship Funding. Children who attend high school within the Archdiocese of Philadelphia are eligible for BLOCS Scholarships. Through its scholarships, BLOCS reaches more children in more communities than almost any other private education charity in our region. With the support of its Board, friends, and donors, BLOCS endeavors to increase the number of scholarships distributed each year and help strengthen the schools for future generations and for the good of our region.
ANNUAL APPEAL Write a check or make a credit card donation on-line to the Crusader Campaign Annual Appeal. Donations go to tuition assistance, program and facility improvements, and technology.
CAPITAL CAMPAIGN Make your pledge or contribution during the “quiet phase” for the planned STEM Center.
STOCKS & SECURITIES Transfer ownership of equities, bonds or 401(k) disbursements to the school, and benefit by special tax savings.
PLANNED GIVING Include the Friends of Father Judge High School, Inc. in your will or estate planning.
SPONSOR A STUDENT Join the program that allows you to sponsor a student with full-year or partial-year tuition.
EITC OR OSTC If you own or manage the financial affairs of a Pennsylvania corporation, then consider the TAX CREDITS that go with one year (75%) or two year (90%) donations to tuition assistance.
Judge FATHER
To learn more about how your business can help support Father Judge High School through the OSTC Program please contact: Brian Patrick King ’97 Director of Advancement Father Judge High School 3301 Solly Avenue Philadelphia, PA 19136 bking@fatherjudge.com 215-338-9494 x-1127
high school
OSTC
For assistance with the application process and designation of funds to Father Judge High School please contact: Bill O’Brien Director of Development BLOCS Business Leadership Organized for Catholic Schools One Radnor Corporate Center 100 Matsonford Road Suite 101 Radnor, PA 19087 484.684.1212 OFFICE 484.684.1296 FAX
Help us ensure our future, as we educate and maximize the potential of young boys in Philadelphia
www.fatherjudge.com