Foundation for Catholic Education PA Tax Credit Programs

Foundation for Catholic Education PA Tax Credit Programs 2019 -20

MISSION OF THE FOUNDATION �Support and enhance Catholic Education in the Archdiocese of Philadelphia. �Support the County Advisory Councils �Our goal is to leverage the EITC and OSTC programs, allowing us to maintain and increase the enrollment at all the Elementary and High Schools. �To achieve our goal, the successful solicitation, communication and distribution of EITC and OSTC funding is critical to the Catholic Schools in the Archdiocese of Philadelphia.

The state of Pennsylvania allows PA tax payers to redirect their liability to your Catholic School! Here’s how easy it is to participate in EITC / OSTC / SPE March 20, 2019 3

Tax Credit Programs: Funds Available for Families EITC Educational Improvement Tax Credit OSTC Opportunity Scholarship Tax Credit � 85 Million Available at the State � 35 Million Available at the State � Tuition Assistance K-12 � Eligibility: $100, 608 Maximum Income � Students residing within a low achieving � 15, 608 for every additional child school district. A low achieving school is � Family must apply through FACTS defines as ranking in the bottom 15% � Same income requirement as EITC Family of 4: $116, 216 Family of 5: 131, 824 Family of 6: 147, 432 � Family must apply through FACTS

Two Ways to Participate! Individuals Businesses PA businesses can contribute up to Individuals with a tax liability $750, 000 to the program. C-Corps, can now join a Special Purpose Entity S-Corps, LLCs and Limited (SPE) to take full advantage of the Partnerships are eligible to participate. PA EITC programs. � Available to Those Who Do Business in PA � Use the Credit for Your Personal PA Taxes � Receive a 75% Credit for 1 -Year � 90% Tax Credit for a 2 -Year Commitment or 90% Credit for 2 -Years � Currently Recruiting Members New Businesses Can Apply by July 1 st � $1, 000 Minimum Contribution � Designate to a Catholic School of Your Choice March 20, 2019 � Designate to a Catholic School of Your Choice

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What is SPE 2019 -20? � The SPE 2019 -20 program, is an LLC that the Foundation has created to allow individuals to now participate in the EITC/OSTC programs. � The sole purpose of the SPE is to: direct EITC/OSTC funds to families sending their children to our Catholic schools. � The Catholic Education, LLC 2019 -20 is made up of many individuals who want to support Catholic Education. � The Foundation for Catholic Education will apply on July 1, 2019 for the SPE. � SPE Members receive a 90% PA Tax Credit for a Two Year Commitment if approved by the State. 7

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SPE 2018 -19 Scenario: 90% Tax Credit 9

SPE 2018 -19 Scenario (Withholding): 10

EITC / OSTC / Other Distributions to Schools 257% Increase in One Year! Start of the SPE’s

EITC and OSTC Programs: �SPE # 1: Approved for $255, 500 in OSTC �SPE # 2: Received $655, 215 in EITC �SPE # 3: Received $833, 300 in EITC �SPE # 4: Received $755, 117 in EITC �Businesses: $500, 000 in OSTC/EITC Total new EITC Committed $2. 1 Million!

SPE 2019 -20: Critical Dates 13

Strategies for Schools to Increase EITC Funding �Board Meeting Presentations �Parent Nights �EITC Breakfast Event �EITC Weekend: April 28 -29, 2019 �EITC Lunch & Learn for CPAs and Financial Planners �County-Wide EITC Receptions �County Hall of Fame Galas �Webinars

In Summary, by participating in the EITC / OSTC Programs you will… Receive a 90% PA Tax Credit WHILE providing Tuition Assistance to Catholic School families across the Archdiocese. So why not participate? March 20, 2019 15

Contact Information Judi Neeld Director of Development Phone: 610. 793. 8503 E-mail: jneeld@foundationforcatholiceducation. org 16