Pay Taxes OR Give a Scholarship?
We have an incredible opportunity for certain eligible individuals to receive up to a 90% tax credit for contributions to the Opportunity Scholarship Tax Credit (OSTC) program by joining a Special Purpose Entity (SPE). Here are some important things to understand about this SPE opportunity.
SPE enables qualified supporters to multiply the impact of their contribution by 10 times!
Imagine this – a gift of $500 out of pocket can result in a $5,000 OSTC contribution to help students afford HPCA! A $1,000 contribution can result in $10,000! And so on. And when you take into consideration your federal tax return, the effect is even greater. Another way to look at this is: SPE enables qualified investors to receive a 90% tax credit on their PA tax liability for a contribution to help students afford HPCA.
Consider this example:
Jill Taxpayer owes $4,500 in PA taxes. She joins the SPE and makes a contribution of $5,000. She will then receive a 90% tax credit on her SPE contribution, which will result in a $4,500 tax credit that reduces her PA tax liability to zero. Thus, in effect, since Jill Taxpayer has to pay her $4,500 PA taxes no matter what, it has cost her $500 out of pocket to re-direct the entire amount of her PA tax liability to Hunting Park Christian Academy, resulting in a $5,000 OSTC scholarship for students at the school. Plus, the contribution has even greater benefit when you consider your federal tax return.
Please help us find more qualified supporters and business owners!
We are looking for individuals or businesses who pay at least $3,500 in Pennsylvania taxes. If you, or someone you know meet this criteria, please contact HPCA’s Director of Development, Jen Deane at firstname.lastname@example.org.
Even if you are not a qualified investor yourself – you may know someone who is. Please help us to meet people who are eligible and eager to participate in this program!
How we use the funds:
The mission of HPCA is to provide an affordable, quality Christian education that celebrates a diverse community and leads children to know and serve the Lord. 100% of our students receive some form of scholarship - affordable tuition, sibling discounts, and/or need-based financial aid. We serve a diverse student body, consisting of students of different socio-economic status, race, ethnicity, and faiths.
Our desire is to serve every family that wishes to attend HPCA, and we strive to keep the cost of tuition from becoming an obstacle. To make this possible, we need you!
Please Note: The school is not able to offer professional tax advice. Please consult with your own tax professional to determine whether this program is right for you.