An innovative program that provides state tax credits and benefits Catholic school students has reached a major milestone — $5 million invested over the past three years.
There is still time to take part in the program for this year. It is administered by the Eastern Pennsylvania Scholarship Foundation on behalf of diocesan schools.
Under the program, eligible donors can receive a 90-percent state tax credit, and designate that money to the Catholic school of their choice, to be used for scholarships.
“This is a way to ensure that your state tax dollars make a positive impact here in your own community,” said John Fierro, who manages the tax credit program for the Diocese.
“I find this to be a great vehicle to provide families with financial assistance while also receiving the benefit of a huge tax credit on my state income taxes,” said Chris Kuhn of Emmaus, a participant. “I encourage people to consult with their tax advisors to see how they can take advantage of this win-win program.”
Under state rules, donors must meet certain eligibility requirements to take advantage of the program. The requirements, along with more information on the program, can be found at http://spe.allentowndiocese.org. Or call Fierro at 610-866-0581 ext. 2344.
Fierro advised anyone interested in participating to file their application by December 15.