Professional advisors play a crucial role in guiding clients toward strategic philanthropy. Pennsylvania’s Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs provide corporate donors with a unique opportunity to support innovative public school grants and need-based scholarships for private school students while receiving substantial tax credits of 75% to 100% for qualifying contributions.
The Washington County Community Foundation (WCCF) is an approved recipient of EITC and OSTC contributions, ensuring that funds are directed toward educational initiatives benefiting students throughout Washington County.
Eligible taxes for these programs include the Capital Stock/Foreign Franchise Tax, Corporate Net Income Tax, Bank Shares Tax, Title Insurance & Trust Company Shares Tax, Insurance Premium Tax (excluding unauthorized, domestic/foreign marine), Mutual Thrift Tax, Malt Beverage Tax, and Surplus Lines Tax.
For professional advisors guiding clients in strategic, tax-efficient philanthropy, these programs offer a compelling way to align charitable impact with financial benefits.
Dollar Bank recently contributed $30,000 to the Community Foundation under the Pennsylvania OSTC program and EITC program. This latest gift is part of a long-standing partnership, bringing Dollar Bank’s total contributions to $265,000, directly supporting educational initiatives that benefit local students.
For more details on participation, please contact info@wccf.net.
The information contained in this publication is not intended as legal or tax advice.