NEW INDIVIDUALS YOU CAN MAKE AN
IMPACT THROUGH THE LLC PROGRAM PJP is excited to partner with Business Leadership Organized for Catholic Schools (BLOCS). How It Works: Individuals or legal entities with $200K single income or household income of $300K may join BLOCS in the BLOCS SCHOLARSHIP LLC. You agree to make a minimum $7,000 contribution for a 2-year commitment to fund the LLC. Members are solicited to reach the maximum of $833,333 and then are issued K-1 credits according to each memberâ€™s percentage interest in the LLC. These credits can then be applied to a Pennsylvania tax liability and directed to Pope John Paul II High School. Contact BLOCS for more information. For assistance with the application process and designation of funds to Pope John Paul II High School please contact: Mr. Jim Downey Development Manager, BLOCS Business Leadership Organized for Catholic Schools 555 Croton Road, Suite 310 King of Prussia, PA 19406 email@example.com 484.704.2304 (office)
100% of your donation will go directly go to PJP.
IMPACT WITH YOUR TAX DOLLARS Pope John Paul II High School 181 Rittenhouse Road Royersford, PA 19468 484.975.6500 www.pjphs.org
MAKE AN IMPACT WITH YOUR TAX DOLLARS Did you know? You can help students receive a PJP education by reallocating your tax dollars!
HOW IT WORKS If your company owes $25,000 in Pennsylvania taxes and commits to making a donation to PJP for one year, it may contribute up to $18,750 (75% of $25,000) to PJP in year one and pay the remaining $6,250 to the Commonwealth of Pennsylvania.
If your company commits to making the same donation for two years, it may contribute up to $22,500 (90% of $25,000) to PJP and pay the remaining $2,500 to the Commonwealth of Pennsylvania, in each of the two years.
$25,000 = $18,750 + $6,250
$25,000 = $22,500 + $2,500
IN PA TAXES
IN PA TAXES
TO COMMONWEALTH OF PA
TO COMMONWEALTH OF PA
HOW TO APPLY:
FAQS ABOUT EITC/OSTC What are the Educational Improvement Tax Credit and Opportunity Scholarship Tax Credit Programs? The EITC and OSTC Programs enable companies to support nonprofit schools at minimal cost. Instead of sending tax dollars to Harrisburg, companies can reallocate tax money to support PJP’s financial aid program.
How much of a business’ tax liability can be donated? You can donate up to 100% of your tax liability, as long as it does not exceed the $750,000 per year maximum. Approved businesses receive a tax credit equal to 75 percent of the contribution. The credit increases to 90 percent of the contribution if the business agrees to the same amount for two consecutive tax years.
Who can make EITC/OSTC gifts? Neighborhood businesses, mid-sized companies, and large corporations are all eligible. This includes the following types of businesses: • C-Corporations (taxed at the corporate level) • S-Corporations • Partnerships • Limited Liability Companies (LLCs)
FOR MORE DETAILS AND FREQUENTLY ASKED QUESTIONS VISIT OUR WEBSITE AT WWW.PJPHS.ORG AND CLICK WAYS TO GIVE
The applications can be accessed at www.newpa.com/EITC or www.newpa.com/OSTC • The deadline for renewal applicants is May 15, 2018 (businesses who have fulfilled their 2-year commitment and wish to renew that 2-year commitment or businesses who are in the middle of their 2-year commitment) • The deadline for new applicants is July 3, 2018
QUESTIONS? Contact Stacy Gallagher, Executive Director of Advancement and Engagement firstname.lastname@example.org or by phone at 484.975.6500 x3006