Student Scholarship Program
The annual cost to educate a student at Hope Partnership for Education is $15,000. However, the families that Hope Partnership serves are asked to pay what they can afford, which could be between $20 to $100 per month. The Student Sponsorship Program helps supplement the cost of our students’ educational programming. It covers the daily academic curriculum, the after-school programs, and field trips and extra-curricular activities including the Summer Session.
Educational Improvement Tax Credit Program (EITC)
The Commonwealth of Pennsylvania offers the EITC (Educational Improvement Tax Credit) to companies that make gifts to scholarship organizations in lieu of taxes.
If your corporation is authorized to conduct business in the Commonwealth of Pennsylvania and pays the following taxes, it can take advantage of the EITC: Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company Shares Tax, Title Insurance Company Shares Tax, Insurance Premiums Tax, or Mutual Thrift Institutions Tax.
The tax credit is 75% for a one-year commitment, and 90% for a two-year commitment. A simple one-page application is available at www.newpa.com.
Opportunity Scholarship Tax Credit (OSTC) Program
The OSTC program is almost identical to the EITC program, but your tax credits will be designated strictly for scholarships to students who reside within the attendance boundary of the lowest 15% of low-achieving schools as identified by the Department of Education. That makes up at least 80% of our student body at Hope Partnership for Education.
The state has not fully appropriated the OSTC funds, so your application will be considered, and it will be considered quickly. The simple application for the Opportunity Scholarship Tax Credit Program must be completed and submitted online using DCED’s Single Application for Assistance which can be accessed at http://www.newPA.com or http://www.esa.dced.state.pa.us. Download a copy of our EITC/OSTC brochure.