In 2001, the Commonwealth of Pennsylvania established the Educational Improvement Tax Credit (EITC) program to encourage the business community to make contributions to benefit Pennsylvania low-income students in exchange for substantial tax credits. Plymouth Meeting Friends School has been a recognized as a scholarship-providing organization since the program’s inception. Gifts from companies can help low-income students attend Plymouth Meeting Friends School.
With the success of the EITC, in 2012 Pennsylvania created a second program–the Opportunity Scholarship Tax Credit program (OSTC), to offer further support for students whose neighborhood schools have been determined to be low-achieving by the state.
The Pennsylvania EITC and OSTC programs enable a Pennsylvania business to direct up to $750,000 of its state tax dollars directly to the PMFS financial aid program and receive up to a 90% tax credit for a two-year pledge.
Tax credits are distributed on a first-come, first-serve basis.