Invest in Philadelphia’s Students. Transform Education.

To make a gift of stock to Elevate 215, please use the following:

Name of Receiving Institution: Charles Schwab & Co., Inc.

DTC Number: 0164, code 40

Account Number: 9684-4037

Telephone: 800.435.4000

Account Registration: Elevate 215

Mailing Address: 123 S. Broad Street, Suite 1170, Philadelphia, PA 19109

Contact Name: Stacy Holland

Through Pennsylvania’s Educational Improvement Tax Credit (EITC) program, you can redirect your state tax dollars to Elevate 215 and receive a 90% state tax credit. It’s one of the simplest and most impactful ways to support Philadelphia’s students.

1. Determine Eligibility

• PA-Source Income: Minimum gift is $5,000 per year, with a two-year commitment. Households with $200,000+ in annual income typically qualify.
• Business Connection: You must be employed by, a shareholder of, a partner in, or a member of a business that pays taxes in PA. (Owning stock in a PA-based company also qualifies; mutual funds do not.)
• Tax Standing: You must be current on all state and federal tax obligations.
• Not Eligible: 1099 employees, employees of nonprofits (e.g., hospitals, universities), government employees, or individuals whose companies do not pay PA taxes (unless they own qualifying stock).

2. Contact Elevate 215

Before giving, please let us know you’d like to participate.

Contact: Jacquie Patterson, Chief Development Officer jacquie.patterson@elevate215.org

3. Request Paperwork & Make Your Gift

Elevate 215 will connect you with our partner, Friends of Education, LLC, who manage the required paperwork. Contributions are made to a Special Purpose Entity (SPE), which then passes 100% of your donation to Elevate 215.

Frequently Asked Questions

Who is eligible?

Both businesses and individuals may participate. If you pay at least $5,000 in PA state taxes, you likely qualify. Nonprofit employees and retirees may qualify if they own stock in a company that does business in Pennsylvania.

How do I apply?

1. Consult your tax advisor to confirm eligibility.
   2. Estimate your two-year PA tax liability and gift amount.
   3. Sign an SPE joinder agreement to reserve your spot (first-come, first-served).
   4. Write a check payable to Educational Opportunities LLC (not Elevate 215) or request wire instructions.
   5. The SPE transfers 100% of your contribution to Elevate 215.
   6. In February, you’ll receive a K-1 Statement reflecting your 90% tax credit.

Am I guaranteed credit?

Not necessarily. Credits are limited and fill quickly. To increase your chances, sign your joinder in the spring, before quarterly tax deadlines. Fall enrollment is possible but more competitive.

Is the other 10% deductible?

Yes. The remaining 10% of your gift qualifies as a federal charitable deduction if you itemize.

What is a Special Purpose Entity (SPE)?

An SPE is a structure recognized in Pennsylvania that allows individuals to pool contributions for the EITC program. Our partner, Friends of Education LLC (a team of CPAs), handles compliance, paperwork, and distribution of funds.

Can I fill out the joinder if I’m unsure of my final gift amount?

Yes. Submitting the form reserves your spot. You can adjust your contribution before writing the check.

Can I change my gift amount later?

Yes. While we encourage at least a two-year commitment, you can update your contribution when reapplying each year.

Pro Tip: Spots are limited and in high demand. Sign your joinder early to secure your tax credit.

• Vanguard

• Chubb

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• Richard Worley