ACA has had a long time commitment to providing a dynamic christian education to all of our students, and our hope has always been that financial issues would not be a hindrance for our families or for prospective students to enroll here. However, we have found that the needs are greater than the contributions to these financial aid scholarships. This is where you can put your taxes to work!
The state of Pennsylvania has provided a game changing, but limited, opportunity for you to redirect your personal and/or business PA tax dollars towards scholarships for ACA students. This is possible through the Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC).
All of your eligible tax funds made available will be distributed to ACA through the Central Pennsylvania Scholarship Fund (CPSF) to fund the deficit created by providing financial aid.
Here’s the catch - your capital contributions (tax funds) must be provided to and designated through our EITC accountant, Tami Clark and the CPSF by the November deadline.
Keep reading to see how you can get involved!
Time is of the essence!
An SPE is a pass-through partnership that exists solely for the purpose of earning Educational Improvement or Opportunity Scholarship Tax Credits.
The Central Pennsylvania Scholarship Fund (CPSF) is a non-profit that is the admin of our SPE, HeHaller, LLC at no cost to the school.
Tami is our EITC/OSTC "accountant" and the Executive Director of the CPSF.
227 Jefferson Ave. Tyrone, PA 16686
By paying your capital contributions in advance, you will be reserving the amount of tax credits you wish to apply for through the EITC & OSTC. Businesses and individuals who participate will receive credits against their PA State Taxes for 90% of that amount for each year of participation.
EITC - supports needs-based financial aid for K-12 students
OSTC- supports needs-based financial aid for K-12 students who reside within a low achieving school.
Those who wish to donate their tax funds will need to complete a Joinder Agreement (a simple 1 page document) which acts as a reservation for the amount of tax credits you wish to apply for, and designates ACA as the recipient of their tax contribution.
With completion of the Joinder Agreement, the business or individual becomes an accredited member of the SPE.
The Department of Community & Economic Development (DCED) grants approval for participation to the SPE.
CPSF will notify members of their approval request the specific capital contribution tax amount for the current tax year. All contributions must be made with in 60 days of the approval notice.
Your business will need to pay the minimum donation of $3,500 to the SPE.
Example of minimum donation designation:
The SPE will pass through all contributions to the CPSF for distribution to Armbrust Christian Academy and handles all the associated paperwork with the DCED.
In February of the following tax year, members will receive the following tax filing documents:
Businesses must pay ONE (or more) of the following taxes annually:
Businesses often eligible to participate: