Thursday, November 20, 2014

Education Improvement Tax Credit

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The Community Foundation of the Endless Mountains can help redirect your PA state tax dollars to assist Endless Mountains area students!

With 10 years of experience, The Community Foundation has given more than $1,000,000 of scholarship assistance to thousands of students.

What is EITC?
The Education Improvement Tax Credit program, administered by the Pennsylvania Department of Community & Economic Development, enables companies to redirect PA state tax dollars from Harrisburg to support local education. It is funded when businesses that owe certain types of state taxes make donations to education and then receive 75% - 100% of their donation subtracted from their Pennsylvania state tax bill. Businesses may apply to direct their donations to any of the three aspects of EITC:

  • Preschool children (ages 3-5 from low to moderate income families) receive tuition assistance
  • K-12 students (private or public) receive grants for tuition or school related costs, including vocational training and dual-enrollment.
  • Education Improvement programs provide curriculum enhancement to local public schools.
Application procedures have changed recently.  All applications must be submitted online.  Businesses that have already participated in the EITC program and are either in the middle of or have completed a two year commitment for the K-12 program can submit applications starting May 15.  Businesses that have not participated in EITC in the past and all businesses donating to the preschool or education improvement programs can submit online starting July 1.  The Community Foundation staff are happy to assist with this new process.  To learn more about submitting online, call our office, email, or download the latest information for review.

Your cost: 6-7 cents on the dollar:

Cost

How you benefit:

  • Individualized Service by Community Foundation staff:
    • Targeted donations: Match students in need with donor's targeted area of assistance
    • Application processing assistance
    • Provide students in targeted areas with a certificate that identifies the donating company
  • Public acknowledgment of donations
    • Regular press releases via existing network of local and regional news outlets, including print and radio
    • News articles on www.community-foundation.org
    • Social media exposure with regular updates
    • Geographically targeted and widespread email distribution newsletters
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