"Want to help TMS with your PA tax dollars?"
Through the Pennsylvania Educational Improvement Tax Credit (PA EITC) and the Pennsylvania Opportunity Scholarship Tax Credit (PA OSTC), businesses and individuals in the Commonwealth can earn a tax credit for up to 90% of certain Pennsylvania taxes when they make a donation to a scholarship organization such as The Montessori School. Funds received under these programs provide support to our need-based tuition assistance program. Consider making The Montessori School (TMS) experience possible for more qualified students through these powerful programs!
"What’s in it for me?"
Donors receive 90% of their contribution in the form of a tax credit on their PA state taxes (e.g. $9,000 tax credit for a $10,000 contribution) by check or direct deposit around September of the tax filing year.
– Any individual who pays PA income tax of at least $3,500 is eligible.
– Your PA tax liability is located on your 2018 PA-40 tax form, line 12.
– The minimum contribution to join the SPE is $3,500.
– You do NOT have to use your entire liability as your donation.
"How does it work?"
Donors will complete a Joinder Agreement (simple one-page document) which acts as a reservation for the amount of credits you wish to apply for. The reservations are taken on a first come, first serve basis. The contribution will be requested by our scholarship organization, CPSF and must be sent in check form. 100% of your contribution goes to The Montessori School in the form of scholarships.
"How do I apply this to my taxes?"
Our scholarship organization (CPSF) will send individual donors a K-1 packet for tax filing purposes. A 2-year commitment results in 90% of your contribution as a credit against your taxes. A 1-year commitment is a 75% credit. This is a dollar-for-dollar reduction in your PA tax payment. These are actual PA tax credits, not deductions. Tax preparers may contact CPSF with any questions about the K-1’s.