Alumni/Advancement » EITC/OSTC

EITC/OSTC

The Ryan Fund
Header 4

Direct your PA taxes to support financial aid…and change lives!

Pennsylvania created two transformational programs - the Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) – that allow individuals, as well as companies, who ordinarily pay state taxes, to direct their tax payments to schools like Archbishop Ryan to provide tuition assistance to qualified students and their families.  In exchange, participating businesses and individuals will receive a 90% Pennsylvania tax credit when you make a commitment for two years.

This is an opportunity to make a significant gift to financial aid at Ryan at little cost to you. Please consider taking advantage of this incredible opportunity to support our students as their need is greater than ever.

Many Ryan alums already participate in the program and make a difference. Please consider joining them, it’s a win – win!

Sample $5,000 Tax Credit:

Donation to Archbishop Ryan

$5,000

PA Tax Credit Reduction (90% of contribution)

($4,500)

Out of Pocket Expense*

$500

*Always consult with your tax advisor.

 

How does it work?

 

1.  An individual or company who wishes to support financial aid at Ryan becomes a member of a scholarship LLC at BLOCS  or another scholarship organization by making a 2-year commitment, signing the operating partnership agreement and making their first capital contribution to the partnership.

 

2.  The LLC will then receive tax credits equal to 90% of the donation amount. These credits will be distributed on a K-1 according to each members percentage of interest in the LLC. These credits can then be applied to your PA state tax liability. We suggest consulting with your tax advisor to maximize your overall potential tax savings.

 

3. This same procedure is followed for the second year of the members' commitment.

 

4.  Archbishop Ryan receives your PA tax dollars for the benefit of our students in need!

 

 

Click here to fill out an inquiry form.

 

Questions?

Contact Ed Hughes '79, EITC, Advancement Office, at [email protected] or 215-637-1800 Ext. 7038.
 
Thank you to our EITC/OSTC donors - your participation affects over 65% of our students by providing much needed tuition assistance to students and their families.