EITC Funding

Educational Improvement Tax Credit (EITC) Funding

Through EITC funding, you can contribute to education in your community, while saving a significant amount of money for your business. Your tax credits will lower your taxable contributions, and at no additional cost, allow you to support programs and organizations in your community that provide rich, innovative learning opportunities for our K-12 students.

What it is

Educational Improvement Tax Credit is a program of the Commonwealth of Pennsylvania, administered by the Department of Community and Economic Development. It allows eligible businesses to apply tax credits against tax liability for the fiscal year in which those contributions were made.

Deadlines

July 1 for new applications, May 16 for renewals

Eligibility

If your business operates in Pennsylvania and is subject to one or more of these taxes, you may participate:

Corporate Net Income, Capital Stock Franchise, Bank and Trust Company Shares, Title Insurance Companies Shares, Insurance Premiums, Mutual Thrift Institution, Insurance Company Law of 1921, and Personal Income Tax of S Corporation shareholders or partnership partners.

Benefits

Your business can receive a tax credit equal to 75% of your contribution (up to $750,000) per taxable year if you participate for one year, or 90% of your contribution if you participate for two consecutive tax years.

Why Contribute to South Central PaARTners?


As an arts-in-education organization, we do two key things for our communities: We enrich our children’s education and we offer professional local artists viable income and meaningful work. This matters to businesses for a number of reasons.

First, the arts in education today fosters smart, creative workers for tomorrow. A study by Americans for the Arts shows that “Students with an education rich in the arts have higher GPAs and standardized test scores, and lower drop-out rates—benefits reaped by students regardless of socio-economic status. Students with 4 years of arts or music in high school average 100 points higher on the verbal and math portions of their SATs than students with just one-half year of arts or music.”

Second, the arts are vital to our local economies. Attracting talented artists and offering them a way to live and work in our communities helps us thrive. According to the study Arts and Economic Prosperity III: The Economic Impact of Nonprofit Arts and Culture Organizations and Their Audiences in the City of Lancaster, PA (Americans for the Arts, 2007), “Nonprofit arts and culture organizations support more jobs than there are accountants and auditors, public safety officers, even lawyers, and just slightly fewer than elementary school teachers.”  In Lancaster, this has translated to the arts creating 796 full-time jobs, $13.6 million in residents’ household income, and over $2 million in state and local government revenue.

For more information:

PA Department of Community & Economic Development