PA Tax Credit Programs
EITC and OSTC
Did you know that through the Pennsylvania Educational Improvement Tax Credit (PA EITC) and the Pennsylvania Opportunity Scholarship Tax Credit (PA OSTC), businesses and individuals in the Commonwealth can earn a tax credit for up to 90% of certain Pennsylvania taxes when they make a donation to a scholarship organization such as The Haverford School. Funds received under these programs provide direct support to our need-based tuition assistance program. Please consider making a Haverford experience possible for more qualified students through these powerful programs.
Learn more about these programs in this animated video!
How do these programs work?
Tax credits are available on a first-come, first-serve basis for contributions to scholarship organizations such as The Haverford School. Credits may be applied against the tax liability for the tax year in which the contribution was made. Businesses and individuals may receive a tax credit equal to 75% of their contribution, up to a maximum of $750,000 per taxable year. Participants who agree to make a contribution to Haverford for two consecutive years may receive a tax credit equal to 90% of its contribution. In effect, it costs a dime to give a dollar!
Estimate your contribution and benefit
To estimate your gift through the PA Tax Credit Programs, as well as the state credit and federal deduction you could receive, enter your taxable income in Pennsylvania and your filing status below. If the minimum yearly donation is more than $5,000 you are eligible to enroll in the program.
Adjust the yearly donation amount, to see what the actual cost to you will be after the credits and deductions have been applied.
Please note, this is for information purposes, and Haverford recommends consulting your tax professional if interested in the PA State Tax Credit Programs
Taxable Income in Pennsylvania
PA State Tax Liability
6,140
Federal Tax Liability
48,000
Yearly Donation (2 Year Commitment Required)
There is a minimum contribution amount of $5,000 to enroll in the program, and based on your PA State Tax Liability, your maximum donation amount is less than $5,000.
Haverford Receives
$6,140
PA State Tax Credit
$5,526
Federal Tax Deduction
$147
Actual Cost to You
$467
Request Information
Frequently Asked Questions
- What businesses and taxes are eligible?
- I don't own a business. Am I still eligible?
- What is the difference between EITC and OSTC?
- How can I apply for EITC and OSTC?
- What happens after I apply?
What businesses and taxes are eligible?
I don't own a business. Am I still eligible?
What is the difference between EITC and OSTC?
How can I apply for EITC and OSTC?
What happens after I apply?
Contact
Matt Nierenberg
Capital Gifts Officer
484-417-2794
mnierenberg@haverford.org
Resources
Important Dates
May 16, 2022
Businesses who have fulfilled their two-year commitment can reapply for a new two-year commitment.
Businesses in the middle of their two-year commitment can renew for a second year.
July 1, 2022
All other businesses including initial applicants can submit their applications.
The greatest gift I have ever been given is the opportunity to get an education like the one I am getting at Haverford. My life has been transformed entirely for the better. My greatest hope is that Haverford continues to receive support so more boys like me - boys just as worthy and deserving of this wondrous opportunity - can receive the same education, so more lives can be transformed. Jose Martinez '17