Pa SPE EITC credits for 2020 and 2021

Pa SPE EITC

2021 SPE Reservation Forms Available

For 2020 our special purpose entities (SPE’s) are fully funded.  We have no available EITC tax credits left for donors for 2020. Our charity is proud we were able to add new donors into early December 2020.  Existing donors are billed for donations from their existing SPEs.  As these donors decreased amounts or were unable to give we used our new donor wait list to fill our SPEs.  Only a few late new donors in December had their 2020 request for EITC tax credits denied or unsolicited donation checks returned.  All denied donors were offered 2021 EITC joinder reservation forms.

2021 Joinder Reservation Form
DCED has May 15 requests for “Spring” 2021 award letters from our SPE’s.  New donors are welcome and we expect to have credit availability until March 2021.  The spring award letters tend to arrive at the end of January and Tami Clark promptly bills existing SPE donors and any new donors in the order of their date of reservation with a donation due date in late February or early March.  Spring is a great time to start EITC.  Donors can avoid paying 2021 Pennsylvania taxes that begin in April 2021 for individuals.  Your selected school can receive scholarships for new fall enrollments for 2021-2022 at the end of this school year or beginning of fall 2021 school. For the school this is an ideal time to maximize the benefits of scholarships and for new or returning parents helps in the financial decision to enroll in another year of school.

2021 New Donor Limitations 
We are currently open to all schools PreK or K-12 that charge tuition in Pennsylvania.  Our SPE’s donors funds are 100% given to chosen schools as scholarships that meet DCED parent income guidelines.  For 2021 that remains the policy of our charity.  All SPE donations are transferred to Central Pennsylvania Scholarship Fund and then issued out to schools as scholarships as their scholarship paperwork is received. 

During 2021 we expect to limit new donors to $100,000 in donation sometime during 2021 but definitely for Fall 2021 so large donors should apply early with spring SPE joinder reservations.

SPE acquisition 
During 2020 we acquired 5 new existing SPEs from schools and individual donors.  We actively solicit existing SPEs to merge in with our network of 400+ schools so we can provide year round assurance to our network of schools that new donors are welcome and existing donors can increase their donations.  You or your school can help by helping us add new SPE’s to our network in 2021.  There are significant improvements and donor access we can afford SPEs that join our network and existing SPE donors receive more certainly about their future EITC credit availability.  We have actively requested ACSI let us manage their 3 SPE’s and Pittsburgh diocese let us manage their 4 SPEs for several years now.  Any encouragement you can give these organizations to merge their SPEs would be greatly appreciated.  

Year End Thank You
Tami, Randy, Kim, Zach and Nick look forward to visiting schools in 2021!  Thank you to all the donors, schools, accountants, volunteer school board members and school development professionals that work with our charity!  Our SPEs and network of schools and donors could not have grown without everyone’s tremendous effort and passion for individual EITC donations!  Redirecting your Pennsylvania taxes to the school of your choice where 100% of your donation goes to scholarships in a clear and stress free process is our charity goal.  Thank you for helping us meet that 2020 goal and doing even better in 2021!