Opportunity Scholarship Tax Credit Program

OSTCPAs a local business, there is a tremendous opportunity called the Opportunity Scholarship Tax Credit Program (OSTC) which allows your company to direct your business tax dollars to Bishop Canevin High School students instead of Harrisburg.

These funds are used specifically to provide tuition assistance to students in underperforming school districts, who otherwise would not be able to afford a quality Bishop Canevin education.

YOU ONLY NEED TO TAKE THESE THREE EASY STEPS

  1. You or your accountant completes the Single Application, online form to the PA Department of Economic Development at www.newPA.com or www.esa.dced.state.pa.us. Paper applications are not accepted. A hard copy signature page must be printed from the online application and immediately signed and sent to the Department – see p.1 of the guidelines – click for handbook.
  2. When notified of approval by DCED, your company will make its contribution to “Scholastic Opportunity Scholarship Fund” of the Diocese of Pittsburgh.
  3. In a cover letter accompanying the check, designate that you specifically want Bishop Canevin High School as the recipient of the tax credit. Send check and letter to:

Scholastic Opportunity Scholarship Fund
111 Boulevard of the Allies
Pittsburgh, PA 15222
c/o Dr. Ronald Bowes
Phone: (412) 456-3090
E-mail: rbowes@diopitt.org

The Diocese will send you a receipt of the contribution. Send a copy to DCED. Upon receipt of proof of your contribution, DCED will notify the Department of Revenue to apply the contribution as a credit against the appropriate business taxes.

WHICH BUSINESSES CAN PARTICIPATE?

Entities authorized to do business in Pa. that are subject to the following taxes: Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company Shares Tax, Title Insurance Companies Shares Tax, Insurance Premiums Tax, or Mutual Thrift Institutions Tax. These businesses include pass-through entities such as C corporations, S corporations and subchapter S businesses. All you need to do is work with your company’s accountant to confirm that your business is eligible.

While this process is truly as simple as the aforementioned three step guideline, please feel free to contact me with any questions you may have. I can be reached at (412) 922-7400 or sinagrak@bishopcanevin.org. Full details are available at www.newpa.com/eitc.

All of us at Bishop Canevin greatly appreciate your consideration,

Kenneth M. Sinagra

Principal

P.S. Those who participate in our OSTC program receive recognition on our Website, Blog, Alumni Newsletter & Annual Report (7,000+ homes) and Parent Newsletter (400 homes). You may also choose to remain anonymous.

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