Educational Improvement Tax Credit and
Opportunity Scholarship Tax Credit Programs

When Students Thrive We All Thrive

 

THE NEED

Even with our low tuition, families still need financial assistance to attend.

 

A SOLUTION

The Educational Improvement Tax Credit (EITC), Pre Kindergarten Educational Improvement Tax Credit (PK-EITC), and Opportunity Scholarship Tax Credit (OSTC) programs have been instituted by the Pennsylvania Legislature so that eligible corporations and businesses can make a contribution to an approved educational scholarship organization, and receive a tax credit.

 

EITC, PK-EITC/OSTC Eligibility

Eligible corporations and businesses are those that pay any of the following taxes

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• Corporate net income tax

• Capital Stock/Foreign Franchise Tax

• Bank and trust company share tax

• Title insurance companies shares tax

• Insurance Premiums Tax

• Fees under section 212 of the Insurance Company Law of 1921

• Mutual thrift institution tax

• Malt Beverage Tax

• Surplus Lines Tax

• Personal income tax of S-Corporation shareholders or partners in a general or limited partnership

 

EITC/OSTC Business Benefits

Receive a tax credit equal to 75% of its contribution up to a max of $750,000 per taxable year. If a business agrees to provide the same amount of contribution to an organization for two consecutive years, the tax credit may increase to 90% of the contributions up to a maximum of $750,000!

 

PK-EITC Business Benefits

Receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining amount contributed up to a max. credit of $200,000 annually.

 

WHO YOU ARE HELPING:

Parents seek out KCA because they believe that they can be met at KCA. But, when you are a single mom, have multiple children in a blended family, are in the process of fostering or adopting, and/or living below the poverty line, having those needs met is almost impossible without financial help.

EITC/PK-EITC Student Benefits:

Scholarships are open to students who are enrolled and meet required verified need standards. Families who demonstrate the greatest need are given priority

 

OSTC Student Benefits:

Scholarships are open to students who are enrolled and reside within the boundaries of low achieving public schools. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation.