EITC/OSTC and BLOCS Contributions
Grey Nun Academy is a Member of the Business Leadership Organized for Catholic Schools (BLOCS)
Corporate Tax Contributions to the PA Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) Programs Provide Tuition Assistance to Eligible Families
Grey Nun Academy offers students from all faiths and backgrounds an academically rich curriculum that meets the unique needs of individual students, respecting the rights, interests, and dignity of each child.
Pennsylvania’s Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs present a wonderful opportunity for your business to help Pennsylvania children attain a Grey Nun Academy education.
BLOCS, An Independent Charitable Organization
Business Leadership Organized for Catholic Schools (BLOCS) serves the Philadelphia region of Pennsylvania by providing tuition to qualifying families who desires a Catholic education regardless of race, religion, or ability to pay.
BLOCS is committed to giving children access to high quality, values-based education in Philadelphia area Catholic schools. All applicants interested in attending Grey Nun Academy through BLOCS must meet the income criteria for the program as well as the admission requirements for our school to be considered.
Companies, firms, and foundations of all sizes in the five-county Philadelphia region have supported BLOCS since 1980. With the continued support of its Board, friends, and donors, BLOCS endeavors to continue to increase the number of scholarships distributed each year and help strengthen schools for future generations and for the good of our region.
During the 2014-2015 school year, BLOCS was able to grant partial tuition scholarships to more than 5500 students, and raise funds in excess of 10 million dollars for families in need.
Children who attend PreK-8, 9-12, and special education are eligible. For more information, please visit www.blocs.org.
Your Company Benefits By Utilizing the EITC/OSTC Tax Credits
The EITC/OSTC programs allow a business to direct where a portion of its taxes are spent – which are tax dollars your business is already committed to paying to the state of Pennsylvania. These programs allow your business to instead redirect those monies to support Grey Nun Academy and your local community.
These EITC/OSTC statewide programs provide companies with a 75 percent tax credit for donations to a non-profit scholarship or educational improvement institution. The tax credit increases to 90 percent if the company commits to making the same donations for two consecutive years. A business paying taxes in Pennsylvania can receive up to $750,000 in tax credits annually.
For contributions to Pre-Kindergarten Scholarship Organizations, a business may receive a tax credit equal to 100 percent of the first $10,000 contributed and up to 90 percent of the remaining amount contributed up to a maximum credit of $200,000 annually.
How You Can Help:
Grey Nun Academy is ready to work with your tax adviser to develop the best way for you to benefit from the EITC and OSTC programs. We encourage you to share information about this program with your company today.
Because most PA companies can participate in this program, we ask that you also share this information with your friends in business.
If you would like to speak with someone about the BUSINESS APPLICATION TIMELINE, or have any questions about the process or working with BLOCS, please contact:
Susy Kim: email@example.com
Jeff Gibson: firstname.lastname@example.org