Scholarship Partners Foundation (SPF)
Eligible businesses make tax credit contributions directly to the Scholarship Partners Foundation (SPF) of the Diocese of Greensburg, while typically earning 90% of their contribution back in tax credits. SPF allocates the contributed funds as tuition assistance to children of qualified families in all 14 Catholic schools within the Diocese of Greensburg. State-mandated income guidelines determine eligibility for families to receive aid from SPF. Contributing businesses may designate one or more specific schools to receive their contribution or make their contribution unrestricted in which case their contribution will be awarded where the need is greatest. Businesses may contribute up to $750,000 per taxable year.
In the 2014-15 fiscal year $60 million in EITC funding, $10 million in PKTC funding and $50 million in OSTC funding was available to businesses to contribute to Scholarship Organizations like Scholarship Partners Foundation.