PA Tax Credit (EITC) Program
It is with great pleasure that I support Shipley through the Educational Improvement Tax Credit (EITC) Program. Not only does it make sense for INTECH from a business standpoint, but, more importantly, our participation is helping to open doors for talented students who are eager to take advantage of a Shipley education. It is such a worthwhile program; I can’t think of a reason why we wouldn’t want to participate!
William Schwartz, parent of Ali ’10 and Drew ’11, and Co-Owner of INTECH Construction
Benefits Your Company and Shipley
A gift to Shipley can provide your company with a substantial Tax Credit through the Educational Improvement Tax Credit (EITC) Program.
By making a contribution to Shipley’s scholarship fund, your company can save in Pennsylvania tax as much as 90% of the value of the gift. Please take a few moments to review this opportunity with your company’s tax advisor. Your support of Shipley through the EITC will help the School make its educational experience available to the most capable students regardless of their financial circumstances.
The following businesses have already made contributions through the EITC Program, enabling Shipley students to receive more than $1,000,000 in financial assistance since its inception:
It works like this:
- Almost $50 million is available on a first-come-first-served basis for contributions to scholarship organizations like Shipley.
- Applications for tax credits for program fiscal year 2012-2013 (July 1, 2012 - June 30, 2013) will be accepted beginning July 1, 2012.
- Tax credits are given for 75% of the business's contribution to the Shipley scholarship fund, up to a maximum of $300,000 annually.
- A business that agrees to make the same contribution to the scholarship fund for two consecutive tax years may receive a tax credit equal to 90% of its contribution, again up to a maximum of $300,000 annually.
- Simply apply to the Department of Commerce and Economic Development (DCED) for the Educational Improvement Tax Credit program (EITC). Application forms are available online at http://www.newpa.com/EITC.
- You may also call the DCED office at 717-787-7120.
For further information about this exciting opportunity, please call Betsy Block '83, Associate Director of Development for Parent Engagement, 610-581-4655 or email@example.com.