Other Ways to Give

A: 100% of all EITC gifts made to The Wyndcroft School through the Central Pennsylvania Scholarship Fund (CPSF) support scholarships for low- and moderate-income students. The students who receive these scholarships can do Wyndcroft-level work and thrive here. The CPSF is staffed by volunteer CPAs and attorneys and charges no fees.

A: The minimum EITC gift in any calendar year is $3,500. A $3,500 EITC gift earns you a 90% tax credit that reduces your PA taxes by $3,150. You can make a gift up to the amount of your state taxes.

A: You'll be invoiced for the gift of your choice, with 30 days to mail your check. You can increase or decrease the amount as long as the gift is at least the minimum of $3,500. Simply note the change on the joinder.

A: Joinders are accepted on a rolling basis. The supply of tax credits tends to run out by the end of October to early November, so it's best to send The Wyndcroft School to your joinder as soon as you decide on the amount of your gift. To reserve your tax credits, call, email, or stop by The Wyndcroft School Development Office at Marshall House to get your one-page joinder. Complete and send it back to us. We'll send your joinder to the Central PA Scholarship Fund, and they will invoice you for the gift within 45 days, or as soon as Pennsylvania sends the fund its annual award letter.

A: The LLC will send you a Pennsylvania K-1 in February so you can claim your tax credit for the gift you made in the prior year.

A: Yes, the Central PA Scholarship Fund will send you a Federal K-1 so you can claim your Federal deduction.

A: A signed joinder is not legally binding. When you sign a joinder, you are simply reserving space in an LLC to make your EITC gift.

A: If this is the case, you don't need to participate. Just let The Wyndcroft School Development Office know that your plans have changed. The Central Pennsylvania Scholarship Fund will then simply reassign those tax credits to the next donor who needs them. However, once you send in your check, you have a tax credit that you must use for the tax year in which you made the gift. The credits are "use them or lose them."

A: Yes. Once you have an approved joinder, you should be able to stop or reduce your estimated tax payments.

A: No. The gift and the EITC tax credit backdate in the PA tax system to the full year in which you made the gift, even if you made your gift on December 31. Once you're in the EITC program, you do not pay installments, or you pay smaller installments. You just file your K-1 with your PA tax return.

A: The tax credit acts as a payment and eliminates any penalties as long as you have enough tax credits to pay the PA tax you owe. Any penalty would be due only on any additional amount you owe beyond what's covered by the EITC. You would need to make estimated tax payments to cover that additional amount. You apply your EITC credit when you are doing your tax returns for the year that just ended.

A: Yes.

A: Check with your matching gift program administrator. It is possible that your company will match 10% of your gift that is not covered by the EITC tax credit.

A: Yes.

A: The Central Pennsylvania Scholarship Fund has many Special Purpose Entity LLCs that guarantee you a tax credit when you complete a joinder for any one of them. If there is no space in one LLC, one of the many other LLCs will step in and fulfill your tax credit order. As long as you are an existing donor or a new donor who files a timely joinder, and you make your donation when the CPSF invoices you, it is assured that you have a current-year tax credit.