Support Yeshiva’s students while reducing your tax obligations!
Redirect Your PA State Tax Liability to Education and Earn a 90% Tax Credit
Maximize the impact of your charitable giving by participating in Pennsylvania’s Educational Improvement Tax Credit (EITC) program. Through this program, individuals and businesses can reduce their state taxes by supporting the students at Yeshiva Schools of Pittsburgh.
Most of Yeshiva’s students rely on tuition scholarships, and your participation ensures these students receive a quality education while strengthening our community. Your contribution through the EITC program can have up to ten times the impact!
Program Highlights:
The EITC and Opportunity Scholarship Tax Credit (OSTC) programs allow donors to receive a 90% tax credit on their PA state taxes when they contribute through a Special Purpose Entity (SPE).
By joining one of our SPEs with a 2-year commitment, you can fund the LLC, and receive tax credits distributed via a K-1, which will apply to your PA tax liability for the year of your donation.
Eligible Taxes for Offset:
Individuals and businesses subject to PA state taxes, such as:
- Personal Income Tax (including pass-through entities like Sub-chapter S corporations)
- Corporate Net Income Tax
- Insurance Premiums Tax
- Bank and Trust Company Shares Tax
- And more…
Simple Steps to Become a Donor:
- Commit to supporting Yeshiva’s scholarship program through an SPE for two years.
- Sign the LLC agreement and make your contribution.
- Receive a K-1 in the spring to file with your PA taxes.
- Enjoy your 90% tax credit from the state.
Many donors use the tax credit to fund their second-year commitment.
Frequently Asked Questions:
What is a Special Purpose Entity (SPE)?
An SPE is a partnership created to facilitate participation in Pennsylvania’s Education Tax Credit programs.
Is the SPE right for me?
We recommend speaking with your tax advisor, as Yeshiva Schools cannot provide tax advice.
How much should I contribute?
The recommended amount is based on your PA tax liability. For example, $100,000 in taxable income equals a $3,411 contribution for maximum benefit.
How does the tax credit work?
You contribute between $1,000 and your annual state tax liability. In the spring, you’ll receive a refund of 90% of your donation and possibly a federal tax deduction on the remaining 10%.
Where do I get more information?
To learn more or apply, email junik@yeshivaschools.com.
