Tax Credit Scholarships

Imani participates in the Pennsylvania Tax Credit Program that allows corporations and individuals to directly contribute to Imani’s scholarship program.  Tax credits are offered at 75% for a one-year gift or 90% if participating for two years.

SPE (For Individuals)

  • The Special Purpose Entity (SPE) is a wonderful program that provide individuals with a PA tax credit for their gift to Imani. If participating for two years, this tax credit is 90%.
  • To participate in this program, individuals must have a minimum PA tax liability of $500.00.
  • Please see the below video that explains the SPE process.
  • A FAQ from Penn Gift, an SPE associated with Imani, can be found here.
  • For more information on how to participate in these programs, please contact Bill Schlachter at bill.schlachter@gmail.com or 856.979.6905

EITC / OSTC Tax Credits (For Corporations)

  • The EITC (Educational Improvement Tax Credit) and OSTC (Opportunity Scholarship Tax Credit) programs are wonderful ways to support the students of Imani Christian Academy.   The EITC / OSTC programs provide corporations with PA tax credit for their gift to Imani.  If participating for two years, this tax credit is 90%.
  • The EITC program is designed to provide scholarships for individuals based on their household income. Over 95% of Imani students qualify for scholarships from this program.
  • The OSTC program is designed to provide scholarships for students who reside within the boundaries of a low-achieving school and choose to attend a nonpublic school like Imani. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation as an elementary or secondary school based upon combined math and reading Pennsylvania System of School Assessment (PSSA) scores.

Business Application Timeframe for Tax Credits

Pennsylvania businesses can apply for Opportunity Scholarship Tax Credits through DCED’s electronic single application system. Tax credit applications will be processed on a first-come, first-served basis by day submitted. All applications received on a specific day will be processed on a random basis before moving on to the next day’s applications.

Applications will be approved until the amount of available tax credits is exhausted.

  • May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 24/25 to renew their 2-year commitment.
  • May 15 – Businesses who are in the middle of their 2-year commitment.
  • July 1 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.

Pass-through entities, such as S-Corporations, Partnerships, LLCs, etc., can now apply the same day as C-Corporations. Applications must be submitted electronically using DCED’s Single Application for Assistance.