PA Tax Credit Programs
Make your tax dollars work for Germantown Friends School
Businesses, corporations, and individuals can support Germantown Friends School through tax credit programs.
For more information on each program, please see below. If you are interested in participating in a tax credit program, please consult your tax advisor and call the GFS Advancement Office at 215-951-2340 for more information.
Pennsylvania Educational Improvement Tax Credit Program (EITC)
The Commonwealth of Pennsylvania offers a unique opportunity for businesses in the state to reduce tax liability by contributing to registered scholarship organizations. Gifts to scholarships at Germantown Friends School can generate a tax credit equal to 75% of the contribution. Two-year commitments receive a 90% tax reduction.
Pennsylvania Opportunity Scholarship Tax Credit Program (OSTC)
Like EITC, the OSTC program provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization. Business contributions are then used to provide tuition assistance in the form of scholarships at Germantown Friends School to eligible students residing within the boundaries of a low-achieving school.
Friends Education Equity Collaborative (FEEC)
Thanks to a Special Purpose Entity created in 2016 called the Friends Education Equity Collaborative, qualified individual investors now have the opportunity to take advantage of tax credits for supporting qualified scholarship organization like Germantown Friends School. Learn more about FEEC.
- What is the timeline for applying for EITC and OSTC?
- Is my business eligible for EITC and OSTC?
- How can my business register?
- Who do I contact with questions?
- Important Additional Information
If your business is authorized to operate in Pennsylvania and pays one of the following taxes, you can register to be eligible for the Pennsylvania Educational Improvement Tax Credit Program (EITC) and the Pennsylvania Opportunity Tax Credit (OSTC).
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Share Tax
- Title Insurance Companies Share Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
- Personal Tax of S corporation shareholders or Partnership partners
The single application is now available online from the Pennsylvania Department of Community and Economic Development. This document provides further information on the program as well as guidelines for filling out the application form. Additionally, you can call the Advancement Office for guidance at 215-951-2340.
Pennsylvania businesses can apply for Opportunity Scholarship Tax Credits through DCED’s electronic single application system. The business application guide, found here explains the process of applying. Additionally, you can call the Advancement Office for guidance at 215-951-2340.
Tax credit applications for both programs will be processed on a first-come, first-served basis by day submitted, so please submit your application on the first day your business is eligible. All applications received on a specific day will be processed on a random basis before moving on to the next day's applications. Applications will be approved until the amount of available tax credits is exhausted.
At Germantown Friends School, contact the Advancement Office for guidance at 215-951-2340. At the Department of Community and Economic Development (DCED), call 717-787-7120 or find more information online at dced.pa.gov.
Once a business is eligible, the business has sixty (60) days to make its contribution to Germantown Friends School. An approved company must provide proof to DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter; Tax credits not used in the tax year the contribution was made may not be carried forward or carried back and is not refundable or transferable.