PA Tax Credit Programs
Claim your 90% Pennsylvania Educational Improvement Tax Credit (EITC)
When you support scholarships at Wyndcroft
Now easier than ever!
The new Wyndcroft 100 LLC is the simplest way to get a 90% Pennsylvania EITC tax credit when you support low- and moderate-income Wyndcroft scholarships through the EITC!
We have well-qualified applicants who can do Wyndcroft-level work and thrive in the culture of our School. With your support through the EITC we can provide the scholarships they need to attend Wyndcroft.
The EITC now offsets Pennsylvania taxes for individuals as well as businesses. If you own or work for a Pennsylvania business, or if you’re a shareholder in one, you can take the credit against your personal Pennsylvania income taxes. Even retirees can participate if they own stock in a Pennsylvania company.
Businesses no longer have to apply to become “approved businesses” and wait for State approval.
Our new Wyndcroft LLC is a “Special Purpose Entity” – it’s simply a conduit for the tax credits. A minimum gift of $3500 is required for each of the two years. You get the 90% tax credit for each of those years.
For example, the net cost to you for a $3500 scholarship gift in each of two years is just $350 per year! There are no administrative fees – 100% of your gift goes to support Wyndcroft scholarships.
Who qualifies for the ETIC tax credit?
Individuals and businesses authorized to do business in Pennsylvania, their shareholders, and employees, which are subject to one or more of the following taxes may utilize the EITC:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
100% of your EITC gift will go to fund Wyndcroft scholarships!
Consult your tax advisor to get the maximum benefit from the EITC.
The Wyndcroft 100 LLC is administered by the Central Pennsylvania Scholarship Fund. A copy of the Operating Agreement is available on request.
Send your dollars to Wyndcroft, not Harrisburg! You’ll spend a dime to give a dollar!
Here’s how to qualify for the 90% Tax Credit when you make an EITC gift.
- You pay Pennsylvania taxes, or your business does (see list of eligible taxes).
- You send in a simple joinder form stating that you or your business will make EITC gifts to Wyndcroft in each of two consecutive years. You have no other responsibilities to the LLC.
- You receive an award letter to tell you when to make your first and second year gifts.
- You receive K-1 forms confirming your Pennsylvania tax credits.
- A federal charitable deduction may be available for a portion of your gift.
Just request the simple LLC joinder form from us, or download it. Choose the amount of your gift, designate Wyndcroft as the beneficiary and send it in to reserve your credits.
Wyndcroft makes creating scholarships easy!
Fill out the form below to let us know you want to learn more about this extraordinary opportunity. Robert Evans, Director of Development, will then contact you to set up a personalized EITC planning session.
For more information on PA Tax Credit Programs and other ways that your business can support The Wyndcroft School, please contact:
Robert W. Evans `65, Director of Development