CPSF SPE Joinders

A joinder is a legal term referring to becoming a partner in a business entity.  Our special purpose entities all have the same operating agreements.  The only purpose for the business entity is to receive your donation and legally pass it thru to CPSF at the proper time to claim the awarded EITC tax credit by the Department of Community and Economic Development (DCED).  No other activities occur in the SPE checkbook.

A Joinder is a reservation of next available EITC tax credit
Central Pennsylvania Scholarship Fund (CPSF) has a one-page joinder that is identical for all 50+ special purpose entities (SPE's) operated by the CPSF charity.  Our process is to receive a completed joinder and Tami Clark Executive Director communicates and confirms she has received your joinder reservation and put it on our master list of new donor joinders.  The new EITC tax credit award letter received by CPSF will be used to submit billings to new donors.  Once you get a billing you need to send a donation check promptly.  If you reach the deadline for the billing and CPSF has not received your donation, then the billing is void and the next new donor will be contacted for a donation.

Fall 2022 Joinder Reservations
Due to new EITC credit awards and our upper donation limit of $100,000 CPSF has been able to bill all new donors to date.  Our new EITC Fall 2022 awards will be fully used up in the next week or two so if you are still trying to get 2022 EITC tax credits please contact Tami immediately and arrange to submit your joinder ASAP.  Once we announce we are full all future joinders will be first in line for our new donor EITC tax credits for Spring 2023.  2023 billing will start February 2023 for existing donors and new donors.  

How to Complete Joinders
Make sure to complete your individual name, address and social security number.  Only one social security number can go on the K-1 tax form you will receive in February so you can select husband or wife.  If you file a joint return it will not matter.  If you wish to have seperate K-1's fill out two joinders.  Select a K-12 school that charges tuition or a preschool that charges tuition in Pennsylvania.  Here is a list of current schools we have given to in the past by county.  Any new qualified school can be added and appears on this list once CPSF sends the school a scholarship award.  Select a donation amount that does not exceed your expected total PA tax for the current tax year.  You can look at your paystub for the current year or last year's PA 40-line 12-page 2 PA Tax Liability or ask your accountant for a reasonable number to use for your joinder reservation. Be cautious as the 90% PA tax credit is only if your PA taxes are larger than your donation.  Otherwise, some of your 90% PA tax credit may be lost.   You can select as many qualified schools as you want and 100% of your donation will go to that school as EITC scholarships once they submit qualified applications to CPSF.  

School Follow Thru on Scholarships
CPSF communicates regularly with the school on our list of schools and with any new school you provide.  The school is responsible for thanking you for your donation and submitting qualified scholarship applications.  Tami Clark is very involved in helping the schools complete these tasks.  Donors are welcome to participate with the schools, so they get proper thanks and verify that the scholarships were issued.  The process does take time so that your donation goes to the correct student in a fair way.  CPSF has a very good track record of getting all scholarships out by the required deadline of less than 2 years.  We would only contact you for a replacement school if your school closes or states that they have no eligible students.  

We will officially post on our website as we do annually when all of our tax credits for 2022 are filled with donors.  To date we have never had to send PA EITC tax credits back to DCED from any of our SPE's due to donors' extreme generosity and diligence.  Thank you to all donors and schools for the amazing generous gifts made in 2022!  We all look forward to working with you in 2023!