• Berks Catholic High School
    Special Purpose Entities (SPEs) – Personal State Tax Credits

    The Commonwealth of Pennsylvania now allows individuals who pay a particular amount of personal state taxes the opportunity to participate in the Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) Programs!

    Individuals may now join a Special Purposed Entity (SPE) that allows personal tax liabilities to flow through it, allowing them to participate in the EITC & OSTC programs. Joining an SPE enables Pennsylvania taxpayers the ability to receive a credit up to 90% of the donation amount as well as a federal charitable tax deduction.

    What is a Special Purpose Entity?

    An SPE is a pass-through partnership that exists to allow individuals’ Pennsylvania personal tax liability to flow through it – allowing that person to participate in the EITC/OSTC Program.

     

    Who Qualifies?

    Individuals who meet the following criteria may be able to join an SPE and participate in the PA State Tax Credit Programs (EITC & OSTC) with their personal tax liability:

    • Pay at least $1,000 in state income taxes each year
      • PA Tax Liability is found on your Form PA-40
    • Work for, or own, a for profit business in PA

     

    Are there SPEs that Berks Catholic High School recommends?

    The SPEs that Berks Catholic currently works with are:

     

     

      ·       Eastern Pennsylvania Scholarship Fund (EPSF) ($5000)
    Contact: Mr. John Fierro Diocese of Allentown 610-866-0581, Ext. 2344
    JFierro@AllentownDiocese.org
     
     Business Leadership Organized for Catholic Schools ($5000) 
    Contact Kathleen Harvey, Senior Financial Analyst BLOCS 484-704-2307
    kharvey@blocs.org
     
     
          Central Pennsylvania Scholarship Fund (CPSF) ($3500)
    Contact Tami Clark, Executive Director CPSF (814)682-9035
    tami@cpsfcharity.org
     
        ACSI Children’s Tuition Fund ($1000)
    Contact Catherine Long, 717.285.3022 x 1
    Catherine_Long@acsi.org