EITC Information & Application
The EITC (Educational Improvement Tax Credit) program offers tax credits to companies who make scholarship and financial aid contributions to approved educational institutions like St. Edmund's Academy. Financial aid has been a tradition at St. Edmund's Academy and we believe that all students should have the opportunity to take advantage of a valuable educational experience.
We look to the St. Edmund's Academy community to help us to identify potential donors for tax credits to eligible businesses contributing to a Scholarship Organization, an Educational Improvement Organization, and/or a PreKindergarten Scholarship Organization.
Eligibility: Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes: Corporate Net Income Tax; Capital Stock Franchise Tax; Bank and Trust Company Shares Tax; Title Insurance Companies Shares Tax; Insurance Premiums Tax; Mutual Thrift Institution Tax; or Personal Income Tax of S corporation shareholders or Partnership partners.
Uses: Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
Where To Apply:
DCED Center for Business Financing
Tax Credit Division, 4th Floor
Commonwealth Keystone Building
400 North Street, Harrisburg, PA 17120
Applications are approved on a first-come-first-served basis by date received.
New Applications & Renewals due July 1st
A partnership between businesses and the St. Edmund’s Academy Scholarship Organization through the EITC program greatly benefits both organizations. These benefits include:
- 65 years of excellence in Independent Education.
- Over $500,000 awarded at SEA in EITC scholarships in the past 5 years.
- 30 EITC donors received tax credits in the past 5 years.
- 17 students have received EITC funded scholarships in the past 2 years.
- 34% of all St. Edmund's Academy students are on financial aid.
- 6 St. Edmund's Academy Core Values articulate high expectations & build strong sense of self for future Pennsylvania business leaders.
For more information please contact 412.521.1907 x117 or log on to www.newpa.com to fill out a brief application. All applications must be received by July 1st and credits are awarded in the order in which they are received.