When you decided to “commit” to EITC as an individual, you would have received a joinder to fill out with SPE terminology on it. Then when we requested your contribution you would have received your SPE name. A simple google-search explains that, “A Special Purpose Entity (SPE) is a company specially created to fulfil a narrow, specific purpose. The reasons for setting up an SPE are to: Hold a pool of assets to act as security (collateral) for loans.”
In the terms of the EITC standard, SPE’s simply serve to receive your donation and legally pass it through the foundation at the proper time to claim the awarded EITC tax credit.
