Question 1

Who is eligible to participate?

Accepted Answer

This program is available to both businesses and individuals alike. If you pay at least $5,000 in Pennsylvania state taxes, you most likely qualify. For individuals, you must be an employee, owner, or shareholder of a business authorized to do business in Pennsylvania. This includes non-profit employees and retirees as long as you own stock in a business that operates in Pennsylvania.

Question 2

How do I apply? What is the process?

Accepted Answer

Step 1: Consult your tax advisor or accountant to confirm your eligibility.
Step 2: Determine your Pennsylvania tax liability for two years and the amount you want to redirect your taxes.
Step 3: Sign our SPE joinder agreement and reserve your spot as soon as possible! It’s first-come, first-served.
Step 4: Write a check made payable to Educational Opportunities LLC (NOT PYB) and send it to 101 Greenwood Avenue, Suite 380, Jenkintown, PA 19046. We can also send wire instructions upon request.
Step 5: The SPE passes 100% of your contribution to Philadelphia Youth Basketball, providing enrichment programming to youth in Philadelphia.
Step 6: Around February of the following year, you will receive a K-1 Statement for your Pennsylvania taxes that will include your 90% tax credit.

Question 3

If I'm eligible, am I guaranteed a tax credit once I apply?

Accepted Answer

Tax credits are available on a first-come, first-served basis. This is a popular program that fills up fast! To make sure you receive a tax credit this year, submit your signed joinder as soon as possible and reserve your spot! Checks are due either in the spring or fall. We recommend joining in the spring if you know your state tax liability at the beginning of the year and want to avoid paying your quarterly estimated taxes. Also, this is a more guaranteed time. You can also sign up in the fall, if you need a little more time, but know this is the more sought-after deadline. There may be a waiting list due to high demand so get in your joinder early.

Question 4

Will my entire contribution directly support Philadelphia Youth Basketball?

Accepted Answer

Yes! 100% goes to programmatic support.

Question 5

Is the other 10% of my contribution tax deductible?

Accepted Answer

Yes! If you itemize your deductions at tax time, the other 10% of your contribution qualifies as a federal charitable donation.

Question 6

What are Special Purpose Entities (SPEs)?

Accepted Answer

Special Purpose Entities (SPEs) are used in Pennsylvania to aggregate contributions from individuals interested in the Education Improvement Tax Credit (EITC) programs. Individuals sign joinder agreements to participate in a SPE, and our partner, Friends of Education LLC makes it possible for you to receive the tax credit.

Question 7

Who is Philadelphia Youth Basketball’s partner?

Accepted Answer

We partner with an organization called Friends of Education LLC that receives the awards from the state, processes the paperwork for us, and passes 100% of the funds to us. They are CPAs who manage the SPEs and provide this service  in collaboration with PYB. They also work with hundreds of organizations and schools across the state. Friends of Education LLC will send your K-1 Statement in February and will also follow up with you regarding your next year’s participation. The program is increasingly popular so the sooner you reserve your spot by completing our joinder agreement, the better. They accept sign ups in the spring and fall.

Question 8

Should I fill out the joinder in full, even if I am uncertain about the amount that I will be paying in PA state taxes?

Accepted Answer

Yes, by filling out the joinder, you are essentially reserving your tax credit. It is possible to adjust the amount listed on your joinder before you need to write a check. For assistance, contact Emily Jordan at ejordan@phillyyouthbasketball.org.

Question 9

Can I adjust the amount listed on my joinder once a new calendar year begins?

Accepted Answer

We hope that individuals will make at least a two-year commitment but there is no term limit and you can continue for however long you wish to participate. You will be reminded to reapply, at which point you can adjust your contribution amount.

EITC TAX-CREDIT

YOUR TAX DOLLARS, YOUR CHOICE!

This is your chance to receive a 90% tax credit while supporting Philadelphia Youth Basketball in an easy process.

Participating is simple. Commit to a year or more. This scholarship gift will qualify you for a state tax credit of 90%. That’s It!

Determine Eligibility

Contact PYB

Request Paperwork & Donate!

Who is eligible to participate?

How do I apply? What is the process?

If I'm eligible, am I guaranteed a tax credit once I apply?

Will my entire contribution directly support Philadelphia Youth Basketball?

Is the other 10% of my contribution tax deductible?

What are Special Purpose Entities (SPEs)?

Who is Philadelphia Youth Basketball’s partner?

Should I fill out the joinder in full, even if I am uncertain about the amount that I will be paying in PA state taxes?

Can I adjust the amount listed on my joinder once a new calendar year begins?

FREQUENTLY ASKED QUESTIONS

Current EITC Donors!

EMAIL

PHONE NUMBER

EIN:

THE ALAN HORWITZ "SIXTH MAN" CENTER ADDRESS

HOURS OF OPERATION

EITC TAX-CREDIT

YOUR TAX DOLLARS, YOUR CHOICE!

This is your chance to receive a 90% tax credit while supporting Philadelphia Youth Basketball in an easy process.

​

Participating is simple. Commit to a year or more. This scholarship gift will qualify you for a state tax credit of 90%. That’s It!

Determine Eligibility

Contact PYB

Request Paperwork & Donate!

Who is eligible to participate?

How do I apply? What is the process?

If I'm eligible, am I guaranteed a tax credit once I apply?

Will my entire contribution directly support Philadelphia Youth Basketball?

Is the other 10% of my contribution tax deductible?

What are Special Purpose Entities (SPEs)?

Who is Philadelphia Youth Basketball’s partner?

Should I fill out the joinder in full, even if I am uncertain about the amount that I will be paying in PA state taxes?

Can I adjust the amount listed on my joinder once a new calendar year begins?

FREQUENTLY ASKED QUESTIONS

Current EITC Donors!

EMAIL

PHONE NUMBER

EIN:

THE ALAN HORWITZ "SIXTH MAN" CENTER ADDRESS

HOURS OF OPERATION