PA Tax Credit Programs

Business taxpayers can help deserving students receive financial assistance toward their George School education while receiving a substantial credit on their state taxes. Through the Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs, businesses can redirect their Pennsylvania state taxes to George School in support of academic scholarships for promising students.

Please see below for more details and links to state resources. If you are interested in applying or have questions about these programs, please contact Renée Mayo ’93, Leadership Gift Officer of Institutional Support, at 215.579.6574 or pataxcredits@georgeschool.org.

What are EITC and OSTC?

The Educational Improvement Tax Credit (EITC) provides a tax credit to businesses that pay Pennsylvania corporate income tax for contributions to scholarship organizations that give private-school scholarships to eligible children.

The Opportunity Scholarship Tax Credit (OSTC) offers further support for students whose neighborhood public school is low-achieving.

The EITC and OSTC programs enable a Pennsylvania business to direct up to $750,000 of its Pennsylvania state tax dollars directly to George School’s scholarship program. Tax credits are given for 75 percent of a one-year gift and 90 percent of gifts given in two consecutive years.

Please visit the Pennsylvania Department of Community and Economic Development website for more information.

Eligibility

Eligible businesses must be authorized to operate in Pennsylvania and subject to one or more of the following taxes:

  • 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 partners in a general or limited partnership

Additional information on EITC and OSTC program guidelines.

Benefits to George School

Gifts to George School made through the EITC and OSTC programs help us open doors to deserving Pennsylvania students with limited financial means. George School is committed to increasing the socio-economic diversity of our school community, and your support helps us to fulfill this essential aspect of our mission.

In recent years, businesses committed to education have gifted over $200,000 to George School through these tax credit programs. An EITC or OSTC gift enables George School to offer financial aid to promising students from Pennsylvania who would otherwise not be able to attend our school.

George School At-A-Glance (PDF)

How to Get Involved

Simply complete the online application at newpa.com. Within two to three weeks, you should hear whether you have been approved to join the program.

For more information and application assistance, please contact Renée Mayo ’93, Leadership Gift Officer of Institutional Support, at 215.579.6574 or pataxcredits@georgeschool.org.