DEFER YOUR STATE TAX LIABILITY INTO SCHOLARSHIP DOLLARS FOR LCA FAMILIES!
$1000 OWED TO THE STATE CAN BE REDIRECTED TO LCA FOR TUITION ASSISTANCE/SCHOLARSHIP FUNDING
WITH A 2-YEAR COMMITMENT TO THIS PROGRAM, YOU RECEIVE A 90% TAX CREDIT
THAT MEANS, FOR A $100 DONATION YOU HAVE GIVEN LCA $1,000 TO MAKE THE SCHOOL MORE ATTAINABLE FOR FAMILIES WHO OTHERWISE CANNOT AFFORD THE TUITION
“If there has ever been a truly rewarding and helpful program for Christian Schools, Pennsylvania’s EITC (Educational Improvement Tax Credit Program) is it! There are very few “no brainers” that we come across in our lifetime, but I would have to say, in my opinion, that this is one of them. To be able to significantly offset (up to 90%) my state income tax owed each year with tax credits based on my giving to LCA is a win-win. The EITC program allows me to significantly support Christian education in my local area with only a minor incremental cost. I would encourage anyone with a passion for Christian education to get educated and avail him or herself of this very meaningful program.”Joshua Ottinger, VP of Operations, Strategic Wealth Alliance Group
HOW THIS BLESSES LCA
EITC funds address one of LCA’s greatest desires: limiting financial roadblocks and making LCA accessible to as many families as possible!
Establishing a healthy EITC fund would remove a very large portion of LCA’s operating budget that is allocated towards financial assistance.
The financial relief provided through EITC funds means that the money can then be allocated towards other areas of school growth and development!
ABOUT THE EITC PROGRAM
The Educational Improvement Tax Credit (EITC) program allows individuals, business owners, and corporations to redirect their PA state tax liability to Lehigh Christian Academy for the purpose of tuition assistance funding. This is an absolute game changer in making LCA a more attainable place for more families to send their children.
For years, the EITC program was only available to businesses incorporated as S Corps, C Corps, or LLC’s. However, individuals can now participate in the program by joining what is called a Special Purpose Entity (SPE). An SPE is formed as an LLC for the sole purpose of allowing individuals to participate in this program.
AND IT’S ALL VERY EASY TO GET INTO PLACE!
OVERVIEW OF HOW IT WORKS
KNOW YOUR TAX LIABILITY
- There is a $1,000 minimum to participate in the EITC
- Determine how much of your tax liability you would like to defer to LCA (up to $750,000)
- FOR BUSINESSES – apply online at: https://dced.pa.gov/programs/educational-improvement-tax-credit-program-eitc/
- MUST APPLY ON JULY 1 – THE EITC IS VERY COMPETITIVE
- FOR INDIVIDUALS – download, fill out, and submit the INTENT TO PARTICIPATE FORM
- Submit at your earliest convenience. Once submitted, you are placed on a waiting list for approval.
- The Children’s Tuition Fund (ACSI) will notify you of your approval to participate in the program
- CTF will provide next steps and timelines for submitting donations and more
- The Children’s Tuition Fund will send you a “K1” document around the end of February
- This form will be used when completing your taxes for the purpose of receiving your credit