Educational Improvement Tax Credit (EITC) Program

student

The Commonwealth of Pennsylvania’s EITC program will award tax credits virtually equal to your contribution to the Frick’s education programs.

Here’s how it works:
  • Your business applies to the state’s Department of Community
    and Economic Development (DCED)  for tax credits up to $750,000
    per year.
  • Your business receives a tax credit equal to 75% of its contribution
    to the Frick’s education programs up to $750,000 per taxable year.
 • The tax credit is increased to 90% of the contribution if you make the same
    contribution for two consecutive years.

The following example is based on a two-year $1,000 contribution, considering the EITC and the 9.99% state business tax you don't pay as a result of your charitable gift.

 

Contribution
$1,000.00
PA Educational Improvement Tax Credit
-900.00
Tax Savings From Non-profit Gift Deduction From Income*
-99.99
(*Since the charitable gift deduction lowers your income by $1,000, this is the state tax amount you won't pay)
Your Actual Out-of-pocket Amount Per Year
$.01 !!!

You may be eligible to apply for the state tax credits if you pay any of the following Pennsylvania taxes:

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Corporate Net Income Tax
Capital Stock Franchise Tax
Bank and Trust Company Shares Tax
Title Insurance Companies Shares Tax
Insurance Premiums Tax
Mutual Thrift Institutions Tax

Personal income tax of S corporation shareholders or partners in a
general limited partnership.

For more information or to obtain the simple one-page application form, visit DCED’s website.

New EITC benefits

In addition to these tax credits, the Frick is pleased to offer these NEW additional benefits to all its EITC contributors!
For more information on these or other corporate sponsorship options at the Frick, contact:

Susan Neszpaul (E-mail: sneszpaul@TheFrickPittsburgh.org , phone: 412-342-4079), or
Hyla Urbany (E-mail: hurbany@TheFrickPittsburgh.org, phone: or 412-342-4089).