Through Pennsylvania’s Educational Improvement Tax Credit Program (EITC), eligible businesses contribute to an Educational Improvement Organization like The Education Partnership and receive tax credits.
Educational Improvement Organizations (EIOs), such as The Education Partnership, are nonprofit organizations that have been approved by DCED for participation in the EITC program. The Education Partnership is an eligible EIO for our STEAM Lending Library and Teacher Resource Center programs.
By supporting The Education Partnership through the EITC program, you can be assured that your taxes are being directed toward educational programs that benefit our local community. Tax credits equal to 75% of the contribution up to a maximum of $750,000 per taxable year can be increased to 90% of the contribution if your business agrees to provide the same amount for two consecutive tax years. This can mean you receive up to 90% of your gift total as a tax credit: your $20,000 gift (over 2 years) could result in a credit as high as $18,000.
Pennsylvanian businesses or corporations can qualify if they pay any of the following taxes:
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
- Insurance Company Law of 1921
- Personal Income Tax of S corporation shareholders or Partnership partners
The filing date is July 1 for first year applications and May 15 for business applicants who have fulfilled their 2-year commitment and wish to reapply in to renew their 2-year commitment.
Businesses apply online stating what amount they plan to contribute. The DCED will notify businesses if their applications are approved.
Applications for tax credits are processed until the credits are exhausted; therefore it is important for your business to submit your application on July 1.
Once your application has been approved by the Department of Community and Economic Development (DCED), your business must contribute to The Education Partnership within 60 days. You need to send proof of the contribution to DCED within 90 days of the approval.
Your support impacts thousands of students
Our programs improve the educational opportunities for students and funding from the EITC program allows us to provide school supplies for students and their teachers in low-income schools in Southwestern PA. By supporting The Education Partnership through the EITC program, you can be assured that your taxes are being directed toward educational programs that benefit our local community.
For more information, visit the Department of Community & Economic Development (DCED) website or contact Josh Whiteside at josh@theeducationpartnership.org.
