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Diocese
of
Scranton
Scholarship Foundation
&
Pennsylvania Businesses
"Building the Future Together"
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- Helping
Children
- Helping
Families
- Helping
Communities in
Pennsylvania
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The Mission
The Mission of the Diocese of Scranton
Scholarship Foundation is to provide tuition
assistance to families who desire a Catholic
education in Diocesan schools
and to accomplish this by inviting the
Business Community within the eleven
counties of the Diocese of Scranton to
participate in the
Educational Improvement Tax Credit Program
offered by the state of Pennsylvania.
What Businesses Qualify?
Businesses that pay any of the following Pennsylvania State Taxes
may apply for tax credits through the EITC
program:
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- Corporate Net
Income Tax
- Title Insurance
Company Shares Tax
- Capital Stock and
Franchise Tax
- Bank and Trust
Company Shares Tax
- Insurance Premium
Tax
- Mutual Thrift
Institutions Tax
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Your Business Can Help Build
the Future!
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The
generosity of the corporations who
contribute to the Diocese of Scranton
Scholarship Foundation enables many families
to exercise choice in the education of their
children. Many parents desire that their
children be educated in a strong academic
environment where Catholic Faith is greatly
enhanced. Unfortunately, financial stress
eliminates this option for some. The support
of corporate contributions through the EITC
program allows this choice to become a
reality.
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How Are The Awards Made?
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The Diocese
of Scranton Scholarship Foundation
awards families most in need of
financial assistance first.
Private School Aid Service, a
Lakewood
,
Ohio
company that specializes in financial aid programs, evaluates all
applications. Using objective
criteria, the applications are
ranked according to need within each
school based on a formula that
utilizes financial information
provided by the applicants. Awards
are then made based upon the
rankings and amount of scholarship
money available in each school.
Parents will be eligible for aid if
they are residents of
Pennsylvania
and their children are enrolled in a K-12 or Pre-K school in
Pennsylvania
which is eligible to receive donations from
Pennsylvania
corporations under the Educational Improvement Tax Credit Program.
State income guidelines set
household income limits at $50,000
with an income allowance of $10,000
for each additional dependent. |
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Applying is Easy
A one page
application is all that is needed to apply
to the state for tax credits through the EITC program. Once a confirmation letter is received from the
state, a company has sixty days to make their
donation. The Diocese of Scranton
Scholarship Foundation then sends a donation
confirmation which is provided to the state
in order to obtain the tax credit.
Businesses may earmark their donation to the
school or schools of their choice.
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| How
Many Families are Helped?
Each
year more than 1000 families receive
tuition awards from the Diocese of
Scranton Scholarship Foundation
which is funded exclusively from
business contributions under the
EITC program.
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How Can Your Business Help?
Pennsylvania
Corporations may take advantage of the
Educational Improvement Tax Credit Program (EITC)
offered through The State of Pennsylvania's
Department of Communication and Economic
Development (DCED), which allows businesses
to make donations to eligible scholarship organizations such as The Diocese of Scranton
Scholarship Foundation. (Full information
and applications may be found by logging
onto the DCED website at: www.inventpa.com
)
How Does The Tax Credit
Program Work?
Grades
K through 12: A tax
credit of 75% of Pennsylvania State
Taxes is granted for a one year
commitment. A 90% tax credit is
granted for a two year commitment.
The maximum is $200,000 per year per
corporation. All donations up to the
maximum amount are accepted.
Pre-K: A tax credit of 100% for the first $10,000 of contribution to an
eligible organization is granted to
a corporation regardless of the
number of years applied for. A 90%
tax credit is granted for the
remaining contribution up to a
maximum of $100,000 per corporation. |
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Bishop Joseph F. Martino, D.D., Hist. E.D.
…
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Commends all those who have contributed through the Educational
Improvement Tax Credit Program:
“We are very grateful to
businesses that help provide
financial aid by making a donation
to the Diocese of Scranton
Scholarship Foundation. Because of
their generosity, we can reach
beyond financial barriers and
provide a quality Catholic Education
to families who might not be able to
afford one without help.” |
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Your Contribution
Your contribution to the Diocese of Scranton Scholarship Foundation
will enable more parents to take
advantage of Catholic Education. In
doing so, you may take pride in
knowing that your company has made a
contribution that has helped many
families and their children in such
a positive way. |
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For
more information on this year's tuition
assistance awards, please click on:
Schools
benefit from Annual Appeal and Scholarship
Foundation
January 24, 2008
For more details about this program and to discover the benefits of
contributing, contact:
The
Diocese of Scranton
Scholarship Foundation
at 570-207-2250
or email:
Ernest-Pappa@dioceseofscranton.org
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