Tax-Deductible Ways to Give
to Saint Mark’s Academy
Tax laws intentionally encourage charitable giving. Here are some of the ways families and individuals can make a gift to St. Mark’s and enjoy tax benefits. Please remember, every person’s tax situation is different and St. Mark’s is not advocating a specific tax position. Please consult with your individual tax advisor to determine the deductibility of your contribution.
Many families choose to write us a check or make an online donation. Such gifts are fully tax deductible, for federal income tax purposes. Please consider making a one-time or monthly commitment.
The Education Improvement Tax Credit (EITC)
Pennsylvania Education Improvement Tax Credit (EITC) program is a powerful tool through which you can provide for a student’s financial need by means of designating your (or your business’) state tax liability to help a child in need attend our school.
Some details about the program are listed below. Please contact us to learn more!
Redirect your Pennsylvania taxes to our school, at no cost to you
As an example: an investment of $100,000 in our school will yield you a PA tax credit of $90,000 (90%)
100% of your donation goes to scholarships for real kids and real families
It’s easy to participate: fill out a simple one page form and designate your donation
Your accountant will get a tax K-1 form for you to receive your refunds
Our school’s EITC program is administered by a CPA with many years of experience in EITC and a large donor base through a volunteer charity audited and registered with Pennsylvania specializing in EITC donations
By designating your state tax liability to St. Mark’s Classical Academy, you are helping low-in- come families choose a better education for their children
Pennsylvania will not spend your tax money as well as you can by providing a scholarship to our school
The EITC program is one of the most popular programs in state history and copied by over 13 other states
Other Ways to give
Gifts of Stock: Gifts of appreciated stock represent a two-fold savings opportunity. You avoid paying any capital gains tax on the increased value of the stock, and you receive a tax deduction for the full market value of the stock as of the day of the gift.
Bequests: These may be earmarked for a specific use or left to the discretion of the school trustees. A bequest of funds or property is exempt from federal estate tax and inheritance tax in most states.
Matching Contributions: Many employers have a matching gift program in which they will match your contribution to an approved non-profit organization. It provides them with a tax benefit and “doubles” the significance of your gift.
Make a contribution to one of Saint Mark’s funds:
Annual Fund: Gifts to the Annual Fund are used to sus- tain and enrich the overall educational program, improve and expand facilities, and ensure the financial stability of the school.
The Scholarship Fund: Saint Mark’s is committed to helping any family that desires a classical and Christian education to overcome difficult financial obstacles.
Gifts-in-Kind: Contributions in the form of material goods or services for which the school would otherwise have to pay, help reduce the school’s expenses and thereby strengthen the overall financial structure.
Participate in a Fundraiser:
St. Mark’s Classical Academy benefits from your participation in each of these creative ways to support students:
Box tops for Education. Cut off box tops and send them to school - the power of this simple (and free!) fundraiser adds up powerfully over time!
Amazon Smile. Select St. Mark’s Classical Academy through your Amazon account and Amazon will make a contribution to our school every time you make a purchase.
Annual Jog-a-thon. Each Spring students work to raise support for our school by soliciting sponsors for our Jog-a-thon. All are welcome to support a student as he or she runs laps to raise funds for our school.
Please check with your accountant, tax attorney, or tax advisor to discuss the gift method that best suits your situation.