Business Owners: Get Involved at HPCA
Are you a business owner or do you know a business owner who would like to receive tax credits for donating to help the mission of HPCA?
The Opportunity Scholarship Tax Credit (OSTC) program is a way for the business community to get directly involved in education by providing scholarship money. The program enables companies in Pennsylvania to support local non-profits, like HPCA, at a minimal cost, instead of sending their tax dollars to Harrisburg.
How the Program Works
If a business pays certain Pennsylvania taxes, those taxes may be given to HPCA for scholarship instead of paid to the Commonwealth. Business contributions are used to provide tuition assistance in the form of scholarships to eligible students residing within the boundaries of a low-achieving school. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation as an elementary or secondary school based upon combined math and reading Pennsylvania System of School Assessment (PSSA) scores.
Types of Taxes that are Eligible for OSTC:
Personal Income Tax
Capital Stock/Foreign Franchise Tax
Corporate Net Income Tax
Bank Shares Tax
Title Insurance & Trust Company Shares Tax
Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
Mutual Thrift Tax
Malt Beverage Tax
Retaliatory Fees under section 212 of the Insurance Company Law of 1921
Applications for the Opportunity Scholarship Tax Credit (OSTC) program will become available on July 1st for businesses who have not participated before.
Businesses in Pennsylvania can receive up to a 90% tax credit by donating to HPCA through the Opportunity Scholarship Tax Credit (OSTC) program. By directing tax dollars your business will already be paying, you can help provide a quality education for children who otherwise would not be able to afford it. Applying for these credits is easy.
HPCA works with Children's Jubilee Fund, a scholarship organization, to process tax credit donations.
Talk with your business' finance office, accountant, and/or tax professional to determine your eligibility and the dollar amount to be donated.
The online application can be filed with the Department of Community and Economic Development (DCED).
Once approved by the DCED, the business has 60 days from the date of the letter to make the charitable contribution to Children's Jubilee Fund. When making your donation to Children's Jubilee Fund, please indicate that you would like to set aside the donation for Hunting Park Christian Academy students.
Within 90 days of the letter from the DCED, the business must send proof of the contribution to the DCED. This would be the written acknowledgment from Children's Jubilee Fund.
The DCED will then notify the PA Department of Revenue to have the credit applied to the taxpayer’s account.
If you are interested in donating, or have further questions, please contact Jen Deane, Director of Development.