Ways to Support St. Raymond’s School
The long-term success of St. Raymond’s, and its role in revitalizing a great educational legacy in Philadelphia, depends on your generosity and active support. Your contribution – large or small – can make a difference.
Annual Fund Support
We have updated our online giving portal for improved connection with our school and increased security! Please visit our Donate Online page to make your gift to St. Raymond’s today!
You are also welcome to Mail your tax deductible donations to:
St. Raymond of Penafort Catholic School
7940 Williams Avenue
Philadelphia, PA 19150
OSTC and EITC
A gift to St. Raymond of Penafort School can provide your business with an incredible 75% or 90% Pennsylvania tax credit through the Educational Improvement Tax Credit Program (EITC) and/or the Opportunity Scholarship Tax Credit (OSTC) while giving tuition assistance to deserving students. For example, if you donate $5000 to our school for two years, you will a receive a tax credit of $4500 per year, and you earn the ability to claim $500 as a charitable deduction. Companies can donate any amount up to $750,000.
If your business is subject to one or more of the following PA taxes, it is eligible to participate in the EITC and OSTC programs:
- Personal Income Tax of S corporation shareholders or Partnership partners,
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank & Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
Individuals Earning $200K or more can participate in the BLOCS Scholarship LLC
A special purpose limited liability company established to provide tuition assistance scholarships to low income families through the use of Pennsylvania’s Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs. These programs allow members to receive up to a 90% tax credit against their personal PA state tax liability. Essentially, you turn your PA tax liability into scholarships!
How it Works
1) An individual or legal entity who wish to support this mission becomes a member in the BLOCS Scholarship LLC (the “LLC”) by signing the attached operating agreement and making a 2 year commitment to fund the LLC. The LLC will solicit members until a total of $833,333 is committed to the LLC or until the manager closes the offering, whichever happens first. Your first capital contribution of the 2 year commitment is due at signing. Your second year capital commitment is due on or before July 1, 2016. There is a minimum capital contribution of $7,000 per member and all members must be considered “Accredited Investors” according to federal and state securites laws.
2) The LLC will then receive tax credits equal to 90% of the donation amount. These credits will be distributed on a K-1 according to each member’s % interest in the LLC. These credits can then be applied to your PA tax liability by your accountant. There may also be additional benefits to your Federal Tax liability as they relate to Alternative Minimum Tax (AMT). We suggests consulting with your tax advisor to maximize your overall potential tax savings.
3) This same procedure is followed for the second year of the member’s commitment.
Be sure to specifically designate your contribution to St. Raymond of Penafort Catholic School.
St. Raymond School, is a nonprofit 501(c)(3). All donations are tax deductible.