THE FOUNDATION & EITC PROGRAM
WHAT IS EITC? WHAT DOES IS HAVE TO DO WITH TUITIONCARE?
EITC, or the Educational Improvement Tax Credit Program, is a tax credit program approved by the state of Pennsylvania which allows certain businesses or organizations to redirect their PA state taxes toward approved scholarship organizations. These organizations then provide scholarships to help families afford a Catholic Education.
WHERE CAN I LEARN MORE ABOUT EITC?
You can learn more about EITC by visiting the Foundation website, www.foundationfce.org, or by contacting Kevin Kelly, firstname.lastname@example.org
WHAT IS A SPECIAL PURPOSE ENTITY (SPE) AS IS PERTAINS TO PA EDUCATIONAL TAX CREDITS?
The SPE is the vehicle that the TuitionCare program uses to apply for the Educational Improvement Tax Credits. TuitionCare members join an SPE when they become members of TuitionCare.
WHO PROVIDES THE OVERSIGHT OF THE SPE FOR TUITIONCARE?
The Foundation for Catholic Education oversees the SPE for TuitionCare.
WHAT'S THE DIFFERENCE BETWEEN TUITIONCARE AND THE FOUNDATION FOR CATHOLIC EDUCATION?
TuitionCare is a program under the Foundation for Catholic Education. It is launched at the Parish School level and will combine EITC/OSTC tax credits offered by the State of PA with a Tuition Reduction Grant.