Serfass Construction Contributes to Financial Assistance
Moravian Academy recently was the beneficiary of a significant gift from Serfass Construction to be used for financial assistance. The gift came through the Opportunity Scholarship Tax Credit (OSTC) program in Pennsylvania, which provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization such as Moravian Academy.
Business contributions are then used by Opportunity Scholarship Organizations to provide tuition assistance in the form of scholarships to eligible students residing within the boundaries of a low-achieving school to attend another public school outside of their district or a nonpublic school. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation as an elementary or secondary school based upon combined math and reading Pennsylvania System of School Assessment (PSSA) scores. David Serfass, President of Serfass Construction said, “There are students from Allentown and other areas in the Lehigh Valley who don't have the opportunity to go to a place like Moravian Academy. By giving an OSTC gift, we are able to give them the opportunities that they currently don't have. The funds will go to underprivileged kids who are motivated.”
Serfass Construction is currently engaged in the construction of the new Athletic and Wellness Center on the Merle-Smith Campus. The facility is slated to be completed in the coming months. Serfass Construction also was involved in the building of the Van S. Merle-Smith Woodworking Studio. “Serfass has a long history with Moravian Academy. We have seen where you were 20 years ago and have been pleased to be a part of where you are today. We're so proud to be associated with Moravian Academy,” said Matthias Fenstermacher, Vice President, Serfass Construction.
“We are always so pleased when we receive gifts such as this that enhance our financial assistance abilities,” said Ann Mindler, Assistant Head of School and Director of Financial Aid. “We are grateful to Serfass Construction for their generous gift and for their commitment to helping students in the Lehigh Valley.”
Serfass Construction is a multi-disciplined construction management, design/build, and general contracting firm based in Allentown, Pennsylvania and defined by a commitment to excellence. Serfass Construction was founded on principles of integrity, loyalty, and a commitment to quality that has been maintained and fostered for over 65 years. Their profile of work is extensive and balanced across most building sectors including: health care, corporate, academic, public, commercial, hospitality, entertainment and multi-unit residential.
A business may participate in the OSTC program if it is authorized to do business in and is subject to one or more of the following taxes: Corporate Net Income Tax; Capital Stock Franchise Tax; Bank and Trust Company Shares Tax; Title Insurance Companies Shares Tax; Insurance Premiums Tax; Mutual Thrift Institution Tax; or a tax under Article XVI of the Act of May 17, 1921, known as the Insurance Company Law of 1921. This includes the Personal Income Tax of S corporation shareholders or Partnership partners.