EITC

Educational Improvement Tax Credit (EITC) - Follow this simple guide to help you navigate the process. I am interested in EITC and helping Phil-Mont scholarships I want to get the $500 (or more) tuition discount for my family I can budget to be without the amount I allocate for 12-14 months
Participate Now (Complete the form)
START Participating TODAY
The Children’s Tuition Fund (ctf_spe@acsi.org from step 2) will contact you when it’s time to submit your check – at which point you submit the check to them for your commitment/allocation amount - as submitted in step 2, based on step 1. Timing: Typically September-October
The Children’s Tuition Fund will send you a K-1 tax form to submit with your PA state taxes (for the “next” April tax filing). Note: include the K-1 form with your PA taxes; the amount you gave to EITC will be tax exempt on your PA taxes; and the 10% fee you’re charged (by the Children’s Tuition Fund) is tax deductible on your federal taxes. Timing: Provided before the following April
Receive 90% of what you gave back in the form of a PA tax refund (atop whatever refund you would otherwise be due!). Note: we, of course, hope you will recycle this refund amount back into the next year’s EITC contribution. One gift recycled for you – but a fresh gift to Phil-Mont every year! Timing: Typically October–January
Participate Now (Complete the form)
Discount Allocation Form

Your PA State Taxes Could Become Phil-Mont Scholarships!

Click here for the "Newbies" guide to EITC

There are plenty of details below, but here are the basics for signing up and benefitting from this program. If you are eligible, then following this path will lead to scholarships for Phil-Mont and discounts for you.

  1. Sign up with the Special Purpose Entity through Children’s Tuition Fund – click here for individuals or businesses click here
  2. SPE applies to Pennsylvania for tax credits.
  3. Tax credits (90%) pass through to individual members of the Special Purpose Entity toward personal tax liability (K-1).
  4. Send a copy of your joinder agreement to the school to receive the discount.
  5. Phil-Mont parents get a $500 discount on their tuition bill for the year in which the EITC funds get processed. If the family tax liability is higher than $5,000, there may be additional discount dollars available. Contact head@phil-mont.com for information on larger discounts for larger credits.

Are you eligible to designate your taxes to Phil-Mont?

Check our our eligibility quiz.

Details

Pennsylvania is one of the few states that actually budget funds to be used by private and parochial schools for scholarship funds so that parents can make choices in the education of their children. This
year they have set aside a remarkable $225,000,000 to be used for that purpose! Certainly, Phil-Mont would appreciate receiving some of those funds for the many families who come to us eager to attend Phil-Mont but who need financial assistance.

In short, Pennsylvania Individuals and Businesses can participate in either the Educational Improvement Tax Credit (EITC) or the Opportunity Scholarship Tax Credit (OSTC) and receive up to a 90% tax credit for an approved donation to a scholarship organization (maximum $750,000 per taxable year). Businesses or individuals donate an amount to the program and the following year 75% of that gift is credited toward your Pennsylvania taxes. If you make a two-year commitment to donate the same amount for two consecutive springs, it is a 90% credit. Some of our sister Christian schools have raised upwards of $1,000,000 from this program. What a blessing!

And here’s more good news. The Association of Christian Schools International (ACSI) in which Phil-Mont holds membership, has an entire division dedicated to helping businesses and individuals work through the application and submission process. Called the Children’s Tuition Fund, and they will help with all forms, answer all questions, and work through the entire process for and with you. And there is no charge or deduction for their certified services.

We hope you will look over the materials linked to this letter and perhaps even share them with your accountant or business manager. It is an amazing program with tremendous benefits for both the donor and the school. The forms should be filled out by mid-June with submission precisely on July 1st.

Please feel free to call or write to Dr. Mangum (or use the form above), but perhaps you might do well to speak directly to the experts at Children’s Tuition Fund. You can contact Catherine Long at 717-285-3022 or catherine_long@acsi.org.

Our Phil-Mont family has been such a blessing over the years and this is simply offering you yet another way that folks might support the work of the Lord in this place. With the many new students applying for the fall, this opportunity is both exciting and timely.

Contact Us

If you would like to speak directly to us at Phil-Mont, contact Phil-Mont’s Head of School, Dr. Mangum by email (head@phil-mont.com)

Pennsylvania Educational Improvement Tax Credit Benefits Phil-Mont Families