Educational Investment Tax Credit

Educational Investment Tax Credit (EITC)

EITC has accomplished what many in Pennsylvania have been advocating for years — a way for the business community to be directly involved in improving education. EITC enables companies to support local nonprofit charities, such as Community Services for Children, at minimal cost to your business.

The program is administered by Pennsylvania’s Department of Community and Economic Development and is a way for businesses to enrich educational opportunities for students while earning tax credits. Through EITC, eligible businesses can receive tax credits equal to 75 percent of their contribution, up to $750,000 per taxable year. The tax credit may be increased to 90 percent of the contribution if the business agrees to provide the same amount for two consecutive tax years.

Organizations able to accept EITC donations are designated in one of three categories:

• • Pre-K Scholarship Organizations (PKSO)
  • Educational Innovation Organizations (EIO)
  • K-12 Scholarship Organizations (SO)

Community Services for Children (CSC) offers both a Pre-K Scholarship Organization (PKSO) that funds scholarships for low-income children and an Educational Innovation Organization (EIO) program, which funds CSC’s Innovation Labs, unique, specialized classrooms designed to enhance the development of 21st-century skills including executive functioning, problem solving, creativity and teamwork, with a special emphasis on STEM, language and literacy and the arts.

Why support CSC through EITC?

Education is the single most important investment we can make to ensure successful participation in today’s economy. It starts with making sure all children have access to high-quality early childhood education so they have a chance to build a solid foundation from which to learn and grow throughout their lives. Children who participate in high-quality early learning programs are 35 percent more likely to graduate from high school, four times more likely to graduate from college and 42 percent more likely to be employed consistently as adults. Your investment today helps build a strong community for tomorrow.

Business Application Timeline

• May 15 – Business applicants who have fulfilled their two-year commitment and wish to reapply in FY 19/20 to renew their two-year commitment
• May 15 –Businesses who are in the middle of a two-year commitment
• July 1 – All other businesses, including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted two-year commitment.

To learn more about EITC, contact Teri Haddad at 610-437-6000, ext. 2121, or [email protected].