PA Tax Credit

PA Special Purpose Entity Program

The Pennsylvania EITC/OSTC Special Purpose Entity (SPE) Program allows individuals with a PA state taxes liability in excess of $3,500 who are willing to make a two year commitment to donate to the private school/schools of their choice, to receive a PA state tax credit for 90% of their donation each year. The remaining 10% of their donation is a deductible charitable contribution for federal tax purposes.

Donors can also designate state and federal tax credit contributions to a scholarship fund like the Saint Patrick Fund for Catholic Education which provides scholarships for the most needy students and families in the Diocese of Harrisburg.

Below is a button to the FAQ page from the Central Pennsylvania Scholarship Fund (CPSF) that can answer most of your questions. CPSF handles all the legal and financial administration for schools and organizations, including filing your application form with PA Department of Revenue, for the SPE program, and issuing a K-1 statement from the LLC for your federal tax filing. They will retain the funds in the Special Purpose Entity (SPE) LLC that is set up with the state as a qualified legal entity for the distribution of state educational tax credits. The CPSF keeps us, at the St. Patrick Fund, apprised of the amount allocated for us in their SPE LLC. For more information, click here to go directly to the CPSF website for more details.

There is also a button to a pre-filled form below to donate your tax credit funds to the Saint Patrick Fund which will be distributed as scholarships to qualified students and families in the Diocese of Harrisburg. And a button below to a blank form if you choose to donate your tax credits directly to one or more qualified Catholic schools in Pennsylvania.