Pennsylvania Tax Credits & Girard College

1. Pennsylvania Tax Credits & Girard College OSTC and EITC: Immediate, simple ways to benefit Girard College and your business.

2. What is EITC? The PA Opportunity Scholarship Tax Credit (OSTC) and the PA Educational Improvement Tax Credit (EITC) allow for any C corporation or S corporation authorized to do business in PA to receive tax creditfor contributions to Girard College’s scholarship program.

3. How much Tax Credit? • For a one-year gift, OSTC and EITC allow for a tax credit of 75% of the gift. • If your business provides the same amount for two consecutive years, the credit increases to 90%. • The maximum tax credit is $750,000 per taxable year.

4. How do I know if my company is eligible? If your company pays any of the following PA taxes, you are eligible to participate in the OSTC or the EITC program. • Corporate Net Income Tax • Capital Stock Franchise Tax • Bank and Trust Company Shares Tax • Title Insurance Companies Shares Tax • Insurance Premiums Tax • Mutual Thrift Institution Tax • Insurance Company Law of 1921 • Personal Income Tax of S corporation shareholders or Partnership partners 

5. What is the impact of a gift to Girard? Girard’s Return on Investment: • VIRTUALLY ALL – 98% – of Girard graduates go on to college. • Our college completion rates, at 53%, make us leaders in the region for our at-risk population and surpass most competitors nationwide. Girard’s Leadership in Urban Education: • Girard College is committed to the Common Core State Standards. • It engages students; aligns standards, curricula and measurements; and assures rigor. • Girard develops life-long learners and provides ongoing Young Alumni support for 10 years following high school graduation.

6. It’s easy to participate: Apply through the PA Department of Community and Economic Development’s (DCED’s) electronic “single application” system by creating a login/profile: OSTC/EITC log-in. An online Business Guide walks you through the 2-page application (and we’re happy to help as well): OSTC/EITC business guide. • Once approved for tax credits, make a donation to the Girard College Development Fund within 60 days. We’ll respond with written confirmation. • Forward the confirmation to DCED, and a tax credit will be posted to your account.

7. Here’s an Example: • Your company pays $10,000 or more in PA taxes. • Apply to OSTC or EITC for a $10,000 gift in two consecutive years. • Once approved, your company donates $10,000 to Girard and receives a $9,000 tax credit. • The remaining $1,000 can be claimed as a charitable donation on your firm’s federal tax return.

8. Timeframes: • OSTC: Any time • EITC: July 1, 2015: Apply online at PA state log-in.(Only current 2-year participants can – and should – apply earlier.) • September-October: Approvals are sent out by the state. • Your company donates to the Girard College Development Fund within 60 days of receiving state approval.

9. Further information: • Planning to participate? Please contact: Bruce Bekker, Director of Institutional Giving, at bbekker@girardcollege.eduor 215-787-4489 • Need to learn more about the OSTC or EITC state programs?Info from the PA Department of Commerce and Economic Development can be obtained at OSTC PA state program or EITC PA state program. Thank you for your interest in Girard College! Arecognized leader in the education of children in need, Girard College has an unmatched 166-year history of providing a quality educational experience for economically disadvantaged children on its 43-acre campus in the heart of Philadelphia. www.girardcollege.edu