PREP NEWS
Make a gift that lasts forever! Tom McParland ’52, a retired partner of KPMG, and his wife Marge are proud members of the Magis Society, which honors those who have made legacy gifts in their will to the Prep. “Marge and I are supporters of the strong academic and moral values that Catholic schools like the Prep offer. The Prep is a source of our future leaders and it is very important to keep this great institution vibrant for the good of the individuals who attend but also for society as a whole. By including the Prep in our wills, we are saying thank you and continue with your outstanding work.” For more information on making a forever gift to the Prep, contact Russell Gartz at 215-978-1035 or rgartz@sjprep.org.
Tom McParland ’52
Would you LIKE TO USE YOUR PENNSYLVANIA BUSINESS
TAX DOLLARS TO HELP PREP STUDENTS? The Pennsylvania Educational Improvement Tax Credit (EITC) allows you to do just that by providing tax credits up to 75% of your contribution to the Prep, up to a maximum of $300,000. This increases to 90% if your business agrees to provide the same amount for two consecutive years. Keep in mind that this is money you already pay in taxes. By submitting a 1-page application, your company can direct all of these designated state taxes to the Prep! • • • •
Corporate Net Income Tax • Capital Franchise Tax Bank and Trust Company Share Tax • Title Insurance Companies Share Tax Insurance Premium Tax • Mutual Thrift Institution Tax Personal Income Tax of S Corporation shareholders or partnership partners
All EITC donations are scholarship gifts to the Prep Fund and can only be used for scholarship purposes as regulated by state law. On average, over 36% of our student body receives approximately $3.2 million annually in both need-based and merit-based financial aid. Each year, EITC contributions average over $150,000 in aid.
“The EITC program is like free money from the state. My brothers and I, along with cousin Peter [below], are lucky enough to own our own business and have an annual tax liability to the state. It's a no-brainer from a business standpoint.” – Jay Bellwoar ’80, VP Colonial Electric Supply Co.
Additional information can be found at www.sjprep.org/EITC Have questions? Contact Ceal Biello at cbiello@sjprep.org Below is a list of companies who have supported the Prep in 2011 through the EITC Program: Advanced Network Products, Inc. Beneficial Savings Bank Bravo Foundation Bruno's Inc. Casaccio Architects LLC Colonial Electric Supply Co. Inc Connor, Weber and Oberlies DNB First Driscoll Construction Company Elkay Manufacturing Corportaion, LLC Evercrest, Inc.
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First Niagara Geppert Bros., Inc. Gordon E. Conwell Associates, Inc. Henkels Foundation Herman Goldner Company Inc. Kildare Capital MCS Group, Inc. Millennium Insurance Company Mohawk Tile & Marble Mulhern Electric Company, Inc. Neutronics, Inc. Nihill & Riedley, P.C.
Norman, Spencer McKernan Philip Rosenau Company Inc. Procacci Brothers Republic Bank Thomas J. Paul Inc. Topaz Kessler Meltzer & Check, LLP ViroPharma Incorporated VJG Enterprises Limited Wilmington Trust of Pennsylvania
THE PREP NEWS