Tax Credit Giving
Make your tax dollars work for GFS!
Businesses, corporations, and individuals can support Germantown Friends School through tax credit programs.
GFS is an approved scholarship organization, participating in the Pennsylvania Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs. Businesses and individuals may support financial aid at GFS through one of these programs and receive a tax credit from the State of Pennsylvania of up to 90% of their gift.
How Does It Work?
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 of up to 90%.
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.
How Can Individual PA Taxpayers Participate?
Individuals may join a Special Purpose Entity (SPE) which operates as a pass-through mechanism for their personal tax liability.
As a member of an SPE, individuals may receive a tax credit for up to a 90% of their contribution amount. It may also be possible to claim a federal charitable deduction on the remaining 10%.
How Can My PA Business Participate?
Businesses may apply directly to the Pennsylvania Department of Community and Economic Development. Application information and deadlines can be found here.
Businesses may also join a Special Purpose Entity (SPE) that allows tax liabilities to flow through it.
Other Partner Organizations
The Friends Collaborative
GFS is a founding member school of The Friends Collaborative (TFC), which was formed in the summer of 2016, by a group of individuals who were passionate about increasing access to Quaker education.
TFC formed several special purpose entities with the goal of raising scholarship dollars through the PA EITC and OSTC programs. Businesses and individuals contributing to one of TFC’s special purpose entities will receive a tax credit of up to 90% of the donation.
- How do I know if I am eligible to participate?
- What is the minimum contribution for an individual or household?
- How can my business register with the state to participate in the EITC and/or OSTC program?
- What is the deadline to participate in the EITC or OSTC program?
- Who do I contact with questions?