EITC

Educational Improvement Tax Credit Program
pa-eitc

A program that benefits
businesses and schools.

Pennsylvania makes millions of dollars available through the Educational Improvement Tax Credit Program (EITC) for businesses to use as “tax credits.” The EITC program enables businesses to support private schools, such as Penn-Mont Academy, a recognized 501 (c)(3) organization, via scholarship funds, instead of directing their tax dollars to Harrisburg.

Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made. Businesses large and small can benefit from this tax credit program. It is a win-win for both business and school.

Who is eligible to participate?

Pennsylvania businesses that pay any of the following taxes are eligible to participate in the EITC program:

  • Personal Income Tax of S Corp Shareholders or Partnership Partners
  • Corporate Net Income Tax
  • Capital Stock Franchise Tax
  • Bank & Trust Company Shares Tax
  • Insurance Premium Tax
  • Title Insurance Company Shares Tax
  • Mutual Thrift Institutions
  • Malt Beverage Tax

The Application Process

Applications are processed by the PA Department of Community & Economic Development (DCED) on a first-come/first-served basis by the date submitted until the amount of available tax credits are exhausted (we recommend that new businesses submit their application NO LATER than July 1st).

How to Apply

  1. Go to the PA Department of Community & Economic Development (DCED) Website.
  2. Click on the Single Application link, under Programs and Funding in the main menu.
  3. After submitting your application, wait for approval from the state.
  4. When you receive your approval letter, contact April Sherry, Director of Development at Penn-Mont Academy, to advise of the amount you have been approved and where to send your donation.
  5. Receive your contribution acknowledgement from Penn-Mont Academy.
  6. Forward this letter to DCED – Center for Business Financing, who will advise the Dept. of Revenue to apply your tax credits.
  7. Redeem your Tax Credits!

Do you need more information?

For more information about our school’s EITC program contact April Sherry, Director of Development, Penn-Mont Academy, at 814-696-8801 Ext 307.

The Impact of Your Business EITC Contribution

The Educational Improvement Tax Credit Program (EITC) provides a way for the business community to be involved with education by directing their tax liability dollars to a school of their choice. Contributions provide financial aid to families of current students. Contact our Development Office to learn how your business can participate.

2016

Funds Dispersed Fall 2016

Number of Participating Businesses:16
EITC Contributions Received:$98,959
Percentage Receiving Aid:19%
Number of Students Impacted:48
2017

Funds Dispersed Fall 2017

Number of Participating Businesses:16
EITC Contributions Received:$117,100
Percentage Receiving Aid:19%
Number of Students Impacted:48

Thank you to the following businesses.
We appreciate your support!

Our 2016-2017 EITC Businesses
  • Allegheny Regional Endoscopy
  • The Bravo Foundation
  • Mike Grimm, Scott Igou and Ed Kaplan thru the Central Pennsylvania Scholarship Foundation
  • First Commonwealth Bank
  • First National Bank of PA
  • The Hite Company
  • M&T Bank
  • The Music Emporium
  • Okonak, Ciocca and Lechner, P.C.
  • Pretzel Place
  • S&T Bank
  • Seltzer Financial Strategies, LLC
  • South Altoona, LLC
  • TDS Foods, Inc.
  • UPMC Health Plan
Our 2017-2018 EITC Businesses
  • Allegheny Regional Endoscopy
  • Altoona Ophthalmology Associates
  • American Eagle Paper Mill/Team Ten through the Central Pennsylvania Scholarship Foundation
  • Dick’s Homecare
  • The Hite Company
  • M&T Bank
  • Marcus & Mack
  • The Music Emporium
  • Okonak, Ciocca and Lechner, P.C.
  • Pretzel Place
  • Rutter’s
  • S&T Bank
  • Seltzer Financial Strategies, LLC
  • TDS Foods, Inc.
  • UPMC Health Plan

Need More Info?

For more information about our school’s EITC program contact April Sherry, Director of Development, Penn-Mont Academy, at 814-696-8801 Ext 307.

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