Participation Information: For Individuals

Individuals can participate by joining a Special Purpose Entity (SPE) as an “accredited investor” and participating with their personal tax liability. Joining a Special Purpose Entity will require a short joinder agreement confirming eligibility and anticipated level of participation.

• Once accepted, participants will write a check directly to the Special Purpose Entity, restricting scholarship funds to Gladwyne Montessori.
• The SPE then receives tax credits typically equal to 90% of the donation amount, which are distributed on a K-1 according to each member’s % interest in the LLC. These credits can then be applied to your PA tax liability by your accountant.
• Gladwyne Montessori awards scholarships and receives funds directly from the SPE.

Please contact advancement@gladwyne.org if you are interested in joining a SPE. 

Suggested Special Purpose Entities (SPEs)

Central PA Scholarship Fund | Minimum commitment of $3,500.
BLOCs | Minimum $5,000 commitment for two years.

Please contact advancement@gladwyne.org if you are interested in supporting scholarships at Gladwyne Montessori through a special purpose entity.

Participation Information: For Businesses

If your business pays any of the following taxes to the Commonwealth of Pennsylvania, the EITC and OSTC programs allow these tax dollars to be directed to scholarships:

• Personal Income Tax
• Capital Stock/Foreign Franchise Tax
• Corporate Net Income Tax
• Bank Shares Tax
• Title Insurance & Trust Company Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Tax
• Malt Beverage Tax
• Retaliatory Fees under Section 212 of the Insurance Company Law of 1912
• Pass-through entities (S-Corporations, Partnerships, LLCs, etc.), special purpose pass-through entities, and C-Corporations are eligible to apply for tax credit. 

Application Process

The application process is simple. The key is meeting application deadlines since tax credits are awarded on a first-come, first-served basis until funds are exhausted. Business guidelines are available here or visit www.dced.pa.gov and search EITC business guidelines.

• Applications must be submitted electronically using DCED’s Single Application for Assistance.
• Applications for the second year of a two-year commitment are due May 15.
• Applications for businesses who have fulfilled their two-year commitment and wish to renew their commitment are due May 15.
• New applications should be submitted on July 1, 2022.

Please Note: Businesses may also elect to participate through a Special Purpose Entity. 

How much tax credit will I receive?

The EITC and OSTC programs provides a tax credit of 75% for a one-year commitment or 90% for a two-year commitment up to a maximum of $750,000. Federal deductions may also apply. 

The Pre-K Scholarship (PKSO) program provides a 100% tax credit for up to $10,000 and 90% of any additional amount contributed, up to a maximum of $200,000. Federal deductions may also apply. 

Which programs benefit Gladwyne Montessori?

Gladwyne Montessori is eligible to receive two of EITC scholarship options: Scholarship Organization (SO) and Pre-Kindergarten Scholarship (PKSO) as well as OSTC scholarships (OS). By making an SO or OS donation you receive a tax credit of 75% for a one year commitment or 90% for a two year commitment. If you chose PKSO, you receive a 100% tax credit for up to $10,000 (anything over $10K is a 90% tax credit).

Learn more

Please contact advancement@gladwyne.org to learn more!

Visit http://dced.pa.gov/EITC or view the DCED EITC/OSTC Overview.