Registration Exemption EITC Position
The staff of the Office of Corporation released the following position statement in regards to EITC and Special Purpose Entities (SPE). SPE's exemption from registration requirements include several criteria including:
-SPE is registered under Pennsylvania law;
-SPE was created for the sole purpose of making contributions to educational institutions;
-That 100% of the proceeds from the sale of the units is used as a donation
Please read the attached for more information.