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Educational Improvement Tax Credit Program

The Educational Improvement Tax Credit Program (EITC) has accomplished what many in Pennsylvania have been advocating for years - a way for the business community to be directly involved in education. The EITC enables companies to support local non-profit charities, at minimal cost, instead of sending tax dollars to Harrisburg. It's that simple. The business community has overwhelmingly responded to the challenge. More than 2,200 companies have pledged in excess of $260 million to programs all across the state.

On May 7, 2001, by a bipartisan majority, Pennsylvania made history by becoming the first state to pass an education credit aimed at corporations. House Bill 996, the Educational Improvement Tax Credit (EITC), provides companies with a 75% tax credit 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. Currently, more than 33,000 children annually are benefiting from EITC scholarships, and countless numbers of children in public schools are benefitting from innovative programs that would have likely gone unfunded. The EITC program is administered by the Department of Community and Economic Development (DCED) on a first-come, first-served basis.

Businesses in Pennsylvania that pay any of the following taxes qualify to participate in the EITC program:

  • 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

For more information about supporting Sewickley Academy through the ETIC program, please contact the Advancement Office at advancement@sewickley.org or 412-741-2230 ext. 3045.

You may also visit the Department of Community and Economic Development website.

 


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