THE IMPACT OF DONORS’ CONTRIBUTIONS ARE MULTIPLIED TEN TIMES
Because you’re using PA tax credits to multiply your gift, Jubilee Schools will actually receive ten times your net out-of-pocket gift! When you join the SPE and make an annual contribution, you receive a 90% PA EITC or OSTC tax credit based on your contribution, which reduces what you would otherwise pay to the Commonwealth of Pennsylvania for your personal income tax liability.
For example, if you typically owe $4,500 annually in PA Individual Income Taxes, you can join the SPE and make an annual contribution of $5,000. You then receive a 90% tax credit ($4,500) on your SPE contribution, which reduces your PA tax liability to zero. Based on your federal tax eligibility, you may be able to itemize the other $500 you paid to the SPE as a charitable contribution. And best of all, the school you designate receives the entire $5,000! For a net outlay of $500, the school of your choice receives $5,000. You can’t beat that!