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Foundation for Catholic Education PA Tax Credit Programs 2019-20 St. Jude Education Center

The Foundation for Catholic Education aims to support and enhance Catholic Education in the Philadelphia Archdiocese through EITC and OSTC programs. Learn how you can participate and help maintain and increase enrollment in Catholic schools.

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Foundation for Catholic Education PA Tax Credit Programs 2019-20 St. Jude Education Center

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  1. Foundation • for Catholic Education • PA Tax Credit Programs 2019-20 • St. Jude Education Center

  2. MISSION OF THE FOUNDATION • Support and enhance Catholic Education in the Archdiocese of Philadelphia. • Support the County Advisory Councils • Our goal is to leverage the EITC and OSTC programs, allowing us to maintain and increase the enrollment at all the Elementary and High Schools. • To achieve our goal, the successful solicitation, communication and distribution of EITC and OSTC funding is critical to the Catholic Schools in the Archdiocese of Philadelphia.

  3. St. Jude Education Center Allocations 2019-20 13 New SPE Members $30,874

  4. The state of Pennsylvania allows PA tax • payers to redirect their liability to your • Catholic School! • Here’s how easy it is! • Participate in: EITC / OSTC / SPE 4

  5. EITC • Tax Credit Programs: Funds Available for Families OSTC Educational Improvement Tax Credit • 85 Million Available at the State • Tuition Assistance K-12 • Eligibility: $100,608 Maximum Income • 15,608 for every additional child • Family must apply through FACTS Family of 4: $116,216 Family of 5: 131,824 Family of 6: 147,432 Opportunity Scholarship Tax Credit 35 Million Available at the State Tuition Assistance K-12 Students residing within a low achieving school district. A low achieving school is defines as ranking in the bottom 15% Same income requirement as EITC Family must apply through FACTS

  6. Businesses • Two Ways to Participate! Individuals PA businesses can contribute up to $750,000 to the program. C-Corps, S-Corps, LLCs and Limited Partnerships are eligible to participate. • Available to Those Who Do Business in PA • Receive a 75% Credit for 1-Year Commitment or 90% Credit for 2-YearsNew Businesses Can Apply by July 1st  • Designate to St. Jude School Individuals with a tax liability can now join a Special Purpose Entity (SPE) to take full advantage of the PA EITC programs.  Use the Credit for Your Personal PA Taxes 90% Tax Credit for a 2-Year Commitment Currently Recruiting Members $1,000 Minimum Contribution Designate to St. Jude School

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  8. What is SPE 2019-20? • The SPE 2019-20 program, is an LLC that the Foundation has created to allow individuals to now participate in the EITC/OSTC programs. • The sole purpose of the SPE is to: direct EITC/OSTC funds to families sending their children to our Catholic schools. • The Catholic Education, LLC 2019-20 is made up of many individuals who want to support Catholic Education. • The Foundation for Catholic Education will apply on July 1, 2019 for the SPE. • SPE Members receive a 90% PA Tax Credit for a Two Year Commitment if approved by the State. 8

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  10. SPE 2018-19 Scenario: 90% Tax Credit 10

  11. SPE 2018-19 Scenario (Withholding): 11

  12. EITC / OSTC / Other Distributions to Schools 257% Increase in One Year! Start of the SPE’s

  13. EITC and OSTC Programs: • SPE # 1: Approved for $255,500 in OSTC • SPE # 2: Received$655,215 in EITC • SPE # 3: Received$833,300 in EITC • SPE # 4: Received$755,117 in EITC • Businesses: $500,000 in OSTC/EITC Total new EITC Committed $2.1 Million!

  14. SPE 2019-20: Critical Dates 14

  15. Strategies for Schools to Increase EITC Funding • Board Meeting Presentations • Parent Nights • EITC Breakfast Event • EITC Weekend: April 28-29, 2019 • EITC Lunch & Learn for CPAs and Financial Planners • County-Wide EITC Receptions • County Hall of Fame Galas • Webinars

  16. In Summary, by participating in the EITC / OSTC Programs you will… Receive a 90% PA Tax Credit WHILE providing Tuition Assistance to Catholic School families across the Archdiocese. So why not participate? 16

  17. FAQs 1. What grades are eligible for tuition assistance? Kindergarten through 8th Grade 2. What is the current tuition at St. Jude? Kindergarten (five years old) 3. Can I change my contribution after I commit? In the event of a catastrophic event (i.e. unemployment, diability, etc..) you can certainly adjust your contribution

  18. FAQs 4. If a business is an incorporated in another state but does business in PA and pays PA taxes, can they participate?  Yes, any company who has PA tax liability can participate! 5. If a parishioner has more than one business, does he need to submit a form for each business or can he combine them?  It depends. We need to know more about how their taxes are paid (i.e. S Corps) 6. What is the tax form number of the form sent to the EITC donors?  The donors receive a K-1 in March.   7. Can I claim my contribution on my Federal Taxes as a contribution? Yes. 8. How much of the funding to Jude will be directed to assistance to needy families? 100%

  19. Contact Information Judi Neeld Director of Development Phone: 610.793.8503 E-mail: jneeld@foundationforcatholiceducation.org 19

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