EITC for individuals

How Does This Program Work for Me?

Individuals can participate through a Special Purpose Entity (SPE). Pennsylvania's definition of a "Business” includes an SPE thereby enabling the participation of individuals in this program. 

To become a member of an SPE at the Jewish Scholarship, LLC, you must:

  • Meet the income or asset threshold (see below for details);
  • Make a two-year commitment to joining the JSLLC; and
  • Submit a signed JSLLC Operating Agreement
    • Upon notification of tax credit approval from the Pennsylvania Department of Economic and Communty Development, the JSLLC will send you an Operating Agreement;
    • The Operating Agreement needs to be signed and returned to the JSLLC along with your first-year contribution; and 
    • In your second year, your contribution must be submitted within 60 days of the Letter of Approval from the Pennsylvania DCED. The JSLLC will inform you of this date. 


Is There a Minimum Contribution?

There is a $6,200 minimum contribution and a two-year required commitment for participation.

Individuals must also meet the SEC Defined Accredited Investor Requirement, Rule 501 of Regulation D:

  • Individual income of $200,000 OR Husband/Wife combined income of $300,000 in each of the last two years; or 
  • $1,000,000 net investable assets excluding the primary residence


Is there a maximum allowable contribution?

Pennsylvania has no maximum for individual participation through one or more of the Special Purpose Entities (SPEs). You can become a member of an SPE through the Jewish Scholarship, LLC.

How much should I contribute?

You need to select an amount that generates a 90% tax credit amount without exceeding your Pennsylvania tax liability. The amount is a guess for most people who don't know exactly what their current year taxes will be. Please consult your tax professional to help you choose the right amount.

Contact Us

Jewish Scholarship, LLC

Phone: 610-668-0044 Email: Info@jewishscholarshipllc.com