EITC/OSTC Individuals

RE-DIRECT AND RE-INVEST YOUR PERSONAL TAXES

How to Qualify

This is an option if you work for a business that pays PA business taxes AND if you meet at least one of the two personal income criteria below:

• Individual income exceeds $200,000 in each of the two most recent years, or joint income together with a spouse exceeds $300,000 in each of those years (In addition, income of at least $200,000 this year or joint income with a spouse of at least $300,000 is expected this year).
• Individual net worth or join net worth together with a spouse exceeds $1,000,000.
  

 

Individual Tax Credits

Just a portion of your tax credits can provide an education to a Crossroads scholar. For example:

• Sample donation — $10,000
 Dollar-for-Dollar PA tax credit with a 2-year commitment — $9,000
 Estimated Net Federal Tax reduction based on 35% tax rate —  $350
 Estimated cost to you — $650.
• Every $11,000 provided through EITC and OSTC funding supports a Crossroads scholar for one year. Of all Crossroads scholars, 99% are EITC eligible, and 64% are OSTC eligible.
• Every $11,000 provided through EITC and OSTC funding supports a Crossroads scholar for one year. Of all Crossroads scholars, 99% are EITC eligible, and 64% are OSTC eligable. 

 

Next Steps

• To participate, you need to become a member of the applicable Crossroads Scholarship LLC by signing an agreement for a two-year commitment to fund the LLC.
• Each member must agree to make the same donation amount for two consecutive years to retain the 90% tax credit. 2020 donations can be made through December 31, 2020 and 2021 (2nd-year) donations must be made by November 1, 2021.
• We can help walk you through the entire process and then complete the rest for you!