In June and July existing donors will receive a request to renew reservations for tax credits for the fall. Please respond even if you want to make the same donation to the same school. This is your annual chance as an existing donor to change your amount of donation up or down or change any of the information we have on you as a donor. If you don't respond we will make less effort in the fall to bill you for a donation and you could drop out of the existing donor program with our charity.
We reapplied for fall 2022 credits and asked for many more credits so existing donors will be able to obtain the same donations as they have received in the past and we should have enough new credits for our existing wait list and new donors thru the start of school in the fall. After that date any new joinder forms will be turned into a donor billing request as credits become available from existing donors that drop out. By October or November we will most likely have no credits available for 2022 and put any joinder reservations on the Spring 2023 wait list.
As in the past joinders have a minimum of $3,500 in donation required and a maximum of $100,000 per donor limit per board of directors limitations.
2021 Tax Refunds
We have sent all 1123 transfer requests into PA Department of Revenue as of March 2022 and we have acknowledgement they have been received for processing. We have sent all the thank you letters from 2021 to DCED since January 2022 and have many acknowledgement letters back. DCED transmits a master list of tax credits to PA Department of Revenue and they then use this list to transfer the credits from the LLC to you. My understanding is each individual return needs to be reviewed by an PA Dept of Revenue analyst before a refund is issued and they tend to wait until June to make sure all the tax credits have been put on the master list and transferred to your social security number. There is a new computer system that works your refund thru the process with a "MyPath" portal being available to you.
If you do nothing like I do then you should receive a refund as soon as the system gets to completion. If you get a notice we have provided you a packet to upload your K-1 packet to your MyPath portal or we can do this for you if you provide the notice. Hopefully we have done everything possible to avoid all tax notices.
There are numerous posts on this refund delay issue beginning in July to September 2021 and even in prior years. Once we get to July 2022 we will post a more detailed update as to how to reach out and request your refund or refund status for 2021.
DCED and the PA Dept of Revenue have worked hard on streamlining this process but they have to be overly careful so the refunds go out correctly to the correct taxpayers. We appreciate your patience with this process and everyone we have ever worked with that deserved a refund has gotten their refund as long as they work thru the process. We can not ask about your 2021 refund for you because of privacy issues that the refund is yours and was generated by you or your tax preparer.
Our schools and the employees at the school that work with EITC are an extremely important part of our charity. The school manages donors that give to their school and does all the paperwork that is needed to release scholarships. Tami Clark can provide you our school contact at your school but we highly encourage you to work thru your school so they also know what is going on with your decision to renew your donation or to be a new donor. For scholarships you have to get the application from your school. There is no cost for our charity and 100% of your donor funds go to your school as scholarships but that can not happen without the help we get from your school because we only have 5 employees in our charity. Each school gets a list of their schools designated donors regularly and are encouraged to be involved in the process as much as they wish to be involved. Thank you to all our school volunteers and helpers. We could not be productive without your assistance.
Independent Paid EITC Consultants
There are several companies and individuals that offer to help your school with the EITC process. They get no special allocation of EITC tax credits and have to work in the same system as everyone else that credits are available on a first come first serve basis from our charity. If the consultant has a signed contract or confirmation that they are employeed by your school we will share your school donor list with them but also still send to your responsible school official. Our charity works with the schools but will also include independent paid consultants. A school needs a strategy to make sure they maximize EITC/OSTC benefits to the school. That strategy can be a paid employee, a volunteer parent, a committtee and/or an independent paid consultant. We work with whatever strategy the school decides and if a donor picks a school we will force that school to have a strategy with the donors assistance because we have to get the funds to the schools within less than 2 years and have been successful in doing that in the past with all donor EITC dollars.
Our school list
All of our schools that receive donation are listed by county at this link. To get on this list you simply have to have received a scholarship check from us in the past. If your school is not on this list they have not received a scholarship check yet. We can only fund schools in Pennsylvania that charge tuition for Pre-K to 12 grade children with EITC scholarships.
Central Pennsylvania SCHOLARSHIP Fund
While we appreciate the role that the EITC education improvement tax credits play in the public schools and charities that assist public schools our charity works with scholarships because no new EIO (education improvement organization tax credits) have been increased since our charity started so that is not the focus of our charity. Most of these credits are renewed annually by banks and large companies. If you want to individually donate to an EIO you need to contact your bank and see if they will do this for you because we do not have EIO credits for new individual donors. We are a SCHOLARSHIP EITC organization. Our charity works with the schools to get donors money 100% to scholarships at the eligible school the donor select. Our employees are funded by interest income because there is a natural delay in the time from when the donors give until the schools most natural scholarship timeframe. We do not hold funds if schools provide all the proper scholarship information but this is up to the school to do.
Tax season for our charity was difficult this year so we apologize for not having monthly updates but are committed to doing monthly updates the rest of the year. Thank you for all of your support of our charity!