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EITC

EITC supporting communityNEW! Businesses, as well as individual taxpayers, can now participate in this program.

INFORMATIONAL MEETINGS are scheduled:

Wednesday, June 24th at 8:00 p.m.
Congregation Beth Sholom
8231 Old York Road, Elkins Park

Special Opportunity: A tour of Beth Sholom Synagogue, designed by Frank Lloyd Wright, will be provided at 7:30 p.m. promptly. There is no fee for meeting attendees and no RSVP requested.

By participating in the Pennsylvania Educational Improvement Tax Credit (EITC) program, businesses and individuals will not only know where their tax dollars are going, they will also decide how they are being spent – all while supporting the Jewish community.

Individuals and business owners can participate in three distinct tax credit programs that provide needs-based scholarships to lower and moderate-income families attending Jewish day schools and pre-schools through the Foundation for Jewish Day Schools. The Foundation, created by the Jewish Federation of Greater Philadelphia in partnership with the regional Jewish day schools, is an IRS-recognized 501(c)(3) non-profit organization, whose mission is to provide needs-based school scholarships.

How it works:

  1. Businesses and individuals that pay taxes to the Commonwealth complete a simple online application to participate in one (or all) of three educational tax credit programs that provide scholarships to children in preschools and grades K-12. 
  2. Upon approval, the taxpayer can receive a credit for up to 90% of their state tax liability for up to $1.7 million by making a contribution to the Foundation for Jewish Day Schools.
  3. The Foundation uses these donations to provide low-to moderate-income families with tuition assistance so their children can attend Jewish day schools and preschools.
  4. Some participating individuals and businesses may be able to claim their gift as a charitable tax deduction on their Federal tax return.

Who qualifies to participate? 

I.  Individuals who are shareholders, partners or members of large firms, or employees of other business firms and pay individual income taxes to PA. 

These individuals will need to join a Special Purpose Entity (SPE), through which the contribution will flow.  It is the entity which will submit an application to participate in the program.  The Foundation for Jewish Day Schools will provide guidance on this process for those contributing a minimum of approximately $6,500.  Those participating at a lower amount will need to consult a professional to create the SPE.  

II.  Those who pay business taxes to PA are defacto eligible and do not need a Special Purpose Entity.

Thanks to the EITC program, for the 2013-14 school year the Jewish Foundation for Jewish Day School awarded more than $2.4M in needs-based scholarships enabling almost 600 students from low- and moderate-income homes to attend a Greater Philadelphia Jewish day school. The Foundation also awarded nearly $330,000 in scholarships to almost 170 pre-school students from low- and moderate-income households.

Note:  LLC, LP, S-corp, C-corp and Partnerships are approved  entities by the state.  Sole proprietors are not approved entities for the purposes of the EITC program and these people will need to engage with an SPE or form their own individual LLC in order to participate in the EITC program.  If all members of a partnership will not be participating, individual partners will also need to engage in an SPE in order to participate.

FOUNDATION FOR JEWISH DAY SCHOOLS -- HOW TO APPLY:  EASY STEP-BY-STEP INSTRUCTIONS - click here

APPLY FOR EITC/OSTC (Direct link to online application) - click here

EITC/OSTC BROCHURE - click here

DCED's HOW TO APPLY STEP-BY-STEP - click here 

ONLINE APPLICATION PREPARATION FORM - click here

EITC NEWSLETTER - click here
 

What participants are saying about the EITC program:

“The EITC tax program is one of the most painless and yet most effective ways to give. In terms of results, I feel strongly that Jewish education at any and all levels is absolutely the most effective way to help our community to endure. It is enormously gratifying to give access to deserving students who might otherwise not receive the benefit of a Jewish education.”

 - Steven Fisher, Esq., CEO of Pei Genesis

“When we discovered our company could participate in the Pennsylvania Education Tax Credit Programs we jumped at the opportunity. We were amazed to learn that we could help Jewish children get a day school education that is at no cost to our company. It is very rewarding to know that our tax dollars are being used to help the future leaders of our community get an education that is grounded in Jewish values.”

 - Mary Relles, Treasurer of SofterWare

"It is extremely gratifying as the parent of day school students to know that my business’ state taxes can be turned into a gift to The Foundation for Jewish Day Schools at little or no cost to our firm. Parkway Corporation has been a participant in the Pennsylvania Educational Tax Credit Program since its inception in 2001. Nothing could be more rewarding than knowing Parkway's tax dollars are helping a Jewish family in need give their children the same outstanding education I want for my children.”

 - Robert Zuritsky, CEO of Parkway Corporation.

“The tax credit program is an easy way to support something we really believe in (Jewish education). It costs us no more and we know that our tax money is being put to good use by supporting The Foundation for Jewish Day Schools.”

 - Irv Stein, Keystone Motors

Read about EITC in the Jewish Exponent, EITC Empowering Businesses to Support Jewish Education.

For more information on the EITC program and to see a listing of day schools and pre-schools that partner with the Foundation – download our EITC brochure.

For questions, contact Ellen Matz at ematz@jfgp.org or call (215) 832-0525.