We suggests consulting with your tax advisor to maximize your overall potential tax savings.ģ) This same procedure is followed for the second year of the member’s commitment. There may also be additional benefits to your Federal Tax liability as they relate to Alternative Minimum Tax (AMT). These credits can then be applied to your PA tax liability by your accountant. These credits will be distributed on a K-1 according to each member’s % interest in the LLC. There is a minimum capital contribution of $7,000 per member and all members must be considered “Accredited Investors” according to federal and state securities laws.Ģ) The LLC will then receive tax credits equal to 90% of the donation amount. Your second year capital commitment is due on or before July 1, of the following year. During the 2017-2018 school year, BLOCS was able to grant partial tuition scholarships to more. Your first capital contribution of the 2 year commitment is due at signing. around Philadelphia are eligible for BLOCS Scholarships. The LLC will solicit members until a total of $833,333 is committed to the LLC or until until the manager closes the offering, whichever happens first. How it Worksġ) An individual or legal entity who wish to support this mission becomes a member in the BLOCS Scholarship LLC (the “LLC”) by signing an operating agreement and making a 2 year commitment to fund the LLC. If eligible, these families will receive tuition assistance through Business Leadership Organized for Catholic Schools (“BLOCS”, the charity) to attend a qualifying private school.
Families are eligible for scholarships if they meet the income and geographic guidelines established by the state.
Applications for the 2021-2022 school year are free and available here.To provide families seeking a private or faith based education for their children access to these schools as an alternative to their neighborhood public school. Please contact Nancy Witts at 21 or ScholarshipĬSFP provides four-year, need-based, partial scholarships for up to three children in a family through a random lottery. If you need assistance in locating, or filling out an application, please let us know and we would be happy to have someone assist you. We do not want you to leave school because of lack of funding. We encourage you to apply to at least one of these foundations. There are a few other scholarships not listed that the school applies for and the tuition assistance will be provided upon receipt of those grants.
They are all quite competitive, so it is always beneficial to apply early with a complete application. Awards will be distributed at the Home and School meeting in the fall.Īll of these scholarships are available for you, as parents, to apply for, unless otherwise noted. Make a Difference Tuition Assistance ScholarshipĪre a student who attends Holy Innocents School and exemplifies the school's mission at school, at home and in your community.Īre a family who has shown support of both school and church activities and services which have helped in your home, school and community.Īpplications will be available through the school.
The program enables you to redirect your tax dollars to provide scholarships for children attending. Amelia takes a moment to update us on her recent full scholarship to the University of Pennsylvania and to recognize BLOCS impact on her life and academic. In addition, every year we sponsor multiple events whose profits directly benefit tuition assistance for our students. programs by pooling your donation with other like-minded community members. We believe that every child should be able to receive a Catholic education, regardless of their family's financial situation. Holy Innocents School provides families with many opportunities to apply for financial aid through scholarships and grants.