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Educational Improvement Tax Credit

Educational Improvement Tax Credit Program (EITC) 

What is an Educational Improvement Tax Credit?

It is a Pennsylvania tax credit for businesses that make a donation to a scholarship organization. Scholarship organizations will award scholarships to children across Pennsylvania to assist them in attending the schools of their choice. 

How to Make EITC Work for You


3 EASY STEPS

Step 1
Determine If You Qualify


Businesses or corporations qualify if they pay any of the following taxes:

  • 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
  • Shareholder and Partner personal income tax (S Corps and Partnerships with pass-through tax liability)

Step 2
Apply

CONTACT Sally Stein at the Jewish Federation of Greater Pittsburgh at 412-992-5243 or sstein@jfedpgh.org to help you through the application

OR

VISIT www.dced.pa.gov/programs/educational-improvement-tax-credit-program-eitc/


Step 3
Make the Pittsburgh Jewish Educational Improvement Foundation (PJEIF) the Recipient

Once approved by the Department of Community and Economic Development (DCED), your business must contribute to a qualified organization such as the PJEIF within 60 days. You need to send proof of the contribution to DCED within 90 days of the approval. The PJEIF will send an acknowledgement letter as proof of your contribution, and you are required to send a copy of this letter to DCED.

How EITC Benefits Your Business

  • Simply put, you contribute money for educational scholarships, and the Educational Improvement Tax Credits (EITC) lower your tax liability. Some companies find that when they add in Federal tax deductions, they save the same amount on taxes that they contributed to scholarships—a zero cost contribution.
  •  
  • The Pennsylvania Department of Community and Economic Development (DCED) provides state tax credits to eligible businesses that contribute to qualified organizations such as the Pittsburgh Jewish Educational Improvement Foundation.
  •  
  • Approved businesses receive a percentage of their contribution as a tax credit:

Scholarship Organizations

$750,000 Maximum Amount of Tax Credits 

• 1-year commitment: 75%
• 2-year commitment: 90% each year
• Full amount deductible for Federal tax purposes*

Opportunity Scholarship Tax Credit

$750,000 Maximum Amount of Tax Credits

• 1-year commitment: 75%
• 2-year commitment: 90% each year
• Full amount deductible for Federal tax purposes*

Pre-K Scholarship Organizations

$200,000 Maximum Amount of Tax Credits

• 100% for the first $10,000
• 90% for the remainder of the contribution
• Full amount deductible for Federal tax purposes*

* Full amount is deductible as a charitable contribution, subject to Federal charitable contribution rules.

Your EITC Contribution Changes Lives


EITC
Your support for day schools and preschools
transforms the lives of children, many of whom would not be able to afford the schools without EITC funding.

Day school gives children the academic tools to thrive,
as well as the confidence and caring
to get involved in helping the community.

 

EITCResearch from the Cohen Center at Brandeis University showed that Jewish day school alumni achieve the highest levels of academic success while becoming more likely to identify with Judaism as adults.

An AVI CHAI Foundation study found that Jewish day school graduates account for 40% of young Jewish leaders.

Research from Ukeles Associates found that both the children attending Jewish early childhood programs and their parents increased their participation in Jewish life.

Give and Receive Through EITC

Who Will You Help?
Through EITC in 2016, businesses made a substantial impact with scholarships:

515 children received K-12 scholarships
234 children received preschool scholarships

EITC7,000+
scholarships have been awarded since the program began in 2001.

Benefits of Jewish Preschools and Day Schools
• Support for low-income families
• Excellent academic preparation
• Values that emphasize helping others
• Increased participation in Jewish life for both kids and their parents 

Join Us to Make an Impact

The Jewish Federation of Greater Pittsburgh supports ten early childhood education programs and three day schools by helping local businesses apply for the tax credits and contribute through the Pittsburgh Jewish Educational Improvement Foundation.

What scholarship organizations can businesses contribute to in order to receive the credit?

Businesses may contribute to qualified charitable organizations that are registered with the Department of Community and Economic Development (DCED). The Jewish Federation of Greater Pittsburgh has created an applicable organization, called the Pittsburgh Jewish Educational Improvement Foundation.

 

EITC Beneficiaries

 

JCC Pittsburgh                Ohav Shalom Center for Early Learning                Temple Emanuel of South Hills              Yeshiva Schools

        
Community Day School                       Adat Shalom Preschool                       Hillel Academy 

Beth Shalom                  Rodef Shalom                   The Early Learning Center at Yeshiva

 

 

 

EITC Donors

The following corporate donors have generously contributed $3.42 million through the Pennsylvania Educational Improvement Tax Credit (EITC) program in 2015-16. This year, through this initiative, tax credits provided 753 scholarships for children to attend Jewish day schools and pre-kindergarten programs.

Advanced Computer & Network Corp.
AMS Real Estate Ventures, LLC
Atlas Materials Recycling Corporation

BHC Holdings, Inc.
Bridges & Company
Concast Metal Products Company
  (A Cubed Corporation)
Cowden Associates, Inc.
Ditto, Ken & Steve Shriber
Dollar Bank
Fifth Third Bank
First Commonwealth Bank
Glimcher Group Incorporated
Guttman Group
Highmark Inc.
Home Instead Senior Care, Inc.
Huntington Bank
Impel Strategies, LLC
JKM Trading Company

Littles Shoes
LunaMetrics LLC
Marvista Real Estate Holdings LLC
McKnight Development Corporation
McKnight Realty Partners
MSA-The Mine Safety Company
Nartak Media Group
The Pfeffer Family
PNC Financial Services Group, Inc.
Karen & Tony Ross
Kenny Ross Automotive Group
Saxon Uniform Network, Inc.
Signature Financial Planning
S&T Bank
Town Development
Trumbull Corporation
UGI Storage Company
UHS of Pennsylvania
UPMC Health Plan

 

 

Jewish Federation of Greater Pittsburgh

Jewish Federation of Greater Pittsburgh
234 McKee Place, Pittsburgh PA, 15213  412-681-8000
www.jfedpgh.org I info@jfedpgh.org  
 
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