By using the EITC, you can help Springside students!
Pennsylvania businesses are eligible for a tax credit—not simply a deduction—by making donations to a scholarship organization like Springside. The EITC program allows our business stake-holders to redirect tax dollars to support scholarships for talented students who could not otherwise afford a Springside education. More than $450,000 has been received since 2006.
EITC provides companies with a 75% tax credit up to $300,000 for donations to a nonprofit scholarship or educational improvement organization. The tax credit increases to 90% if the company commits to making the same donation(s) for two consecutive years. Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
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 partners in a general or limited partnership Corporate Net Income Tax
- Capital Stock and Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
The EITC program is administered by the Pennsylvania Department of Community and Economic Development (DCED) on a first-come, first-served basis.
For more information about giving to Springside School, please contact Ceci Clark, Director of Institutional Stewardship, 215 247-7200 ext. 6080 or the EITC website and type in “EITC” or PA School Choice. |