E.I.T.C
EDUCATIONAL INCOME TAX CREDIT.
Pennsylvania’s Educational Improvement Tax Credit (“EITC”) program permits donors to claim a 90% state income tax credit for any gift to an approved Educational Improvement Organization (“EIO”). An EIO is a not-for-profit organization registered with the Pennsylvania Department of Community and Economic Development which provides educational programs, services, and initiatives that improve student achievement in Pennsylvania.
Scouting America, Laurel Highlands Council is an approved EIO registered with the Pennsylvania Department of Community and Economic Development.
It costs a dime to give a dollar to Laurel Highlands Council!
Benefits for THOSE who enroll:
- Receive a state tax credit of up to 90% of their contribution
- Receive a 10% itemized charitable deduction on their federal return
- Directly support public education through Laurel Highland Council’s EIO program
- Encourage educational opportunities for children in need
*Note that these benefits are for both businesses and individuals who enroll
Eligibility Requirements:
- Donors must have Pennsylvania-source income
- Donors must be employed by, a shareholder of, a partner in or member of a business that pays taxes in Pennsylvania (i.e., own an interest in an LLC)
- Donors must be current on all state and federal tax obligations
Laurel Highlands Council has partnered with Friends of Education to make EITC giving easy. Friends of Education provides a simple and convenient way for individuals and businesses to participate in supporting education through special purpose entities (SPE(s)). By participating, donors can redirect a portion of their tax dollars from Harrisburg to Laurel Highland Council’s EIO program. EITC dollars support programs and initiatives that make a real difference in the lives of children living in Pittsburgh.
Ready to give? Here are the next steps:
- Speak with your tax advisor to determine whether you are eligible to participate.
- Notify Nathan Catanese, that you intend to make an EITC gift.
- Request a joinder from Friends of Education at info@pataxcredits.org.
- Designate Laurel Highland Council in the joinder and remit your donation.
FREQUENTLY ASKED QUESTIONS.
WHAT IS EITC?
A PA Department of Community and Economic Development (DCED) program that provides state tax credits to eligible businesses for charitable contributions made to the Scouting America, Laurel Highlands Council.
IS MY BUSINESS ELIGIBLE?
If you do business in Pennsylvania and pay any of several corporate taxes, the answer is YES! Contact the Laurel Highlands Council to find out more.
HOW CAN I MAKE EITC WORK FOR ME AND MY BUSINESS?
Visit the PA DCED website for EITC Guidelines and access to DCED’s electronic Single Application system. Once you are approved* by DCED, make your contribution to the Laurel Highlands Council within 60 days.
WHAT’S THE BOTTOM LINE?
Tax credits equal to 75% of your contribution up to a maximum of $750,000 per taxable year; can be increased to 90% of your contribution, if your business agrees to provide the same amount for two consecutive tax years.
|
|
CORPORATE CONTRIBUTION |
ANNUAL PA TAX CREDITS AWARDED |
ANNUAL ACTUAL CASH OUTPUT |
|
Two-Year Commitment (90% tax credit) |
$100,000 |
$90,000 |
$10,000 |
|
One-Year Commitment (75% Tax Credit) |
$100,000 |
$75,000 |
$25,000 |
