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Tax Credit

EITC & SPE Tax Credit Programs

There are two programs that allow Pennsylvania taxpayers to receive significant tax credits when they donate to an educational non-profit organization.

Your participation in these tax credit programs provides CRUCIAL funds to St Leo the Great Catholic School.

These funds are used exclusively for needs based financial aid – assisting us in our goal of removing financial concern as a barrier to a Catholic Education.

Approximately 40% of our student body receives needs based financial aid, and this need grows each year.

Educational Improvement Tax Credit (EITC)

The EITC program allows businesses to receive 90% tax credits when they apply to the program and then make the appropriate donation to an educational non-profit.

All Catholic Schools are educational non-profits so this works out very well for us!

EITC is great, but is limited to businesses. The paperwork is kinda complicated and acceptance is NOT GUARANTEED.

Special Purpose Entity (SPE)

The SPE program exists because some legislators wanted there to be a way for individuals to receive the same benefit that businesses got through the EITC program.

In fact, the SPE that you join when you participate in this program applies for EITC funds. So Special Purpose entities are essentially “pass through” entities that allow individuals to participate in a program reserved for businesses.

SPE, without a doubt, is awesome!

Using the SPE program an individual can receive a 90% tax credit, just like a business. Rather than directly donating to the educational non-profit, you “invest” in the SPE and the SPE sends your investment to the non-profit of your choice.

Hypothetical Example of How SPE Works

The Bottom Line

Whether you are a business or an individual – you are going to pay PA Taxes each year.

The only question is:

Where do you think those dollars will do the most good – St Leo the Great Catholic School or The Capitol Building?

 

How to Participate

Just complete this simple form and a member of our development team will reach out to you!

Name(Required)

A Very Special Thank You!

St. Leo’s gratefully acknowledges those companies that are participating in the program and designating St. Leo’s as a recipient of this tuition assistance.

EITC Donors Include: