Special Purpose Entities
It was recently announced that the Diocese of Allentown has been allotted an additional $633,000 in available tax credits dedicated to providing scholarships to students at schools such as John Paul II Center (via SPE, or Special Purpose Entity). Scholarships are important to JPII because they provide less fortunate families with the means to give their children the education they deserve.
What is the SPE program?
What is a Special Purpose Entity (SPE) as it pertains to Pennsylvania education tax credits? A Special Purpose Entity is a new class of pass-through partnerships that exists solely for the purpose of obtaining Education Improvement Credits (EITC/OSTC).
Tax Benefits to Individuals & Students at JPII
Individuals with a tax liability can now join a Special Purpose Entity (SPE) with the following benefits:
- Use the credit for Personal PA taxes
- 90% Tax credit for two year commitment
- Can be designated to John Paul II Center
We hope that you will take this tax option into consideration for not only your own benefit, but for the benefit of the students at John Paul II Center as well.
How to Qualify as a SPE – Must be an Accredited Investor, as defined by federal and state securities laws. This is defined as one of the following:
- Having individual income of $200,000 over the past two years
- Having joint income of $300,000 over the past two years
- Having a net worth of $1,000,000 excluding your primary residence
- Must be able to donate at least $5,000 for a two year period
If you would like to participate in this program, please contact Melissah Jablonski: