Pennsylvania businesses can improve the lives of students in their communities by taking advantage of the Educational Improvement Tax Credit (EITC) Program. By doing so, participating Pennsylvania businesses will also receive a reduction in their tax liability, therefore reducing their overall tax bill.
Tax credits can equal up to 75 percent of a business’ contribution, up to a maximum of $750,000 per taxable year. This amount can be increased to 90 percent of the contribution if the business agrees to provide the same amount for two consecutive tax years.
As a participant in the EITC program, PHNCF accepts donations to further education for the disadvantaged and help low or moderate-income families pay for school expenses. The scholarships and program support from the EITC program make it possible to continue providing education to those in our communities.
PHNCF, as a Scholarship Organization, will provide tuition to eligible students to attend a public or nonpublic kindergarten, elementary school, or secondary school in the commonwealth of Pennsylvania. The term “tuition” shall also include school-related fees charged by a school, including a special education school. At least 80 percent of the funds contributed to PHNCF go to cover the cost of the scholarships.
Businesses interested in participating in the EITC program should contact the Pennsylvania Department of Community and Economic Development Education Improvement Tax Credit Program at: 1-866-466-3972 or visit: http://community.newpa.com/programs/educational-improvement-tax-credit-program-eitc/
Businesses interested in contributing to PHNCF via the Pennsylvania EITC should contact the Director of Programs at: 724-981-2875 ext. 401.