MCDS relies on the Pennsylvania Educational Improvement Tax Credit (EITC) program for nearly all its financial aid funding for its students. This program offers individuals and businesses the opportunity to contribute their PA income tax dollars to private educational institutions of their choice. Below is a list of several scholarship organizations MCDS partners with that run Special Purpose Entities (SPEs) that businesses and individuals can join to receive dollar-for-dollar tax credits for 90% of their participation with a 2 year commitment. (The other 10% can be used as a charitable deduction on your federal tax return.) SPEs will open with available credits as the scholarship organizations are able to obtain credits from PA or other participants leave or reduce their commitments. Each scholarship organization has its own minimum participation level (starting as low as $500, in some cases), and most charge a small administrative fee that will be deducted from your participation amount before the funds are forwarded to the school(s) you designate. The scholarship organization will send you a tax form, a K-1, to enable you to claim your credits and charitable contribution when you file your tax return.
Examples of Scholarship Organizations that run SPEs:
- ACSI Children's Tuition Fund
- Faith Builders
- Central PA Scholarship Fund
- Penngift
If you are interested in participating in this program to make Christian education affordable, please contact
Sandy Zimmerman, Finance Manager, at 717-665-4300. The school is often notified by the scholarship organizations if they are looking for participants, and we can point you to an open SPE. We are also happy to answer questions about the program.
Thank you for your help!
