Turning Tax Dollars into Scholarships!
Did you know that you can redirect your Pennsylvania Tax liability to ICHS and receive a 90% credit back on your taxes? The process is simple, yet the impact is significant. Through the Opportunity Scholarship Tax Credit (OSTC) and the Educational Improvement Tax Credit (EITC) programs both businesses and individuals can turn their tax dollars directly into scholarship funds for students in need.
Want to learn? Are you ready to join the program? The first step is to contact us.
What is the impact of your tax dollars at ICHS? A $3500 tax liability could equal $3500 in scholarship funds at ICHS at a cost of only $350 for you!
How does this program work?
To be eligible to participate in the program, the taxpayer must have a tax liability of at least $1000 and be an owner, employee, or have at least one share of a company that does business in Pennsylvania.
The taxpayer then fills out a short application to join a Special Purpose Entity (SPE) which is managed by a scholarship organization in Pennsylvania. SPE’s are made up of others who also desire to participate in the tax credit program. In order to make this process as easy as possible we at ICHS will help connect you to an SPE.
At the prompting of the scholarship organization the taxpayer makes a contribution of at least $1000. The scholarship organization then redirects this money to ICHS where we use the funds directly for scholarships.
Finally, during tax season the taxpayer will receive a Form K-1 which they submit with their income tax to receive a 90% credit.
“This is a school that is always supportive of you. They will pray for you. If you need help, just ask. Don’t stay quiet if you need help.”
— Current ICHS Junior
“The students come to ICHS and it is this safe place. You hear them say it but then you also see it. They don’t want to go home from school; that is different!”
— ICHS Biology Teacher