What if your organization could receive tax credit and help educate a child in need? If your company currently pays corporate taxes in Pennsylvania, you may be eligible to participate in the Education Improvement Tax Credit (EITC) plan. Here’s how it works: you give a gift to Great Valley School District Education Foundation, and by doing so, receive a tax credit equal to as much as 90% of the contribution!
Great Valley School District Education Foundation is now approved to direct funds to Great Valley School District (GVSD) for the following initiatives:
Full description of initiatives here.
Pennsylvania’s EITC program, run through the PA Department of Community and Economic Development, allows approved businesses to direct a portion of tax dollars to approved non-profit organizations. These funds must be used for pre-approved initiatives. In order to participate in the EITC program, companies must apply to the Department of Community and Economic Development. Download the PA Dept. of Community and Economic Development’s guide to applying to be an EITC donor here.
Contact us to talk about how your business can support programs and initiatives in Great Valley public schools.
What is EITC?
- Pennsylvania Educational Improvement Tax Credit.
- The PA EITC Program is administered by the PA Department of Community & Economic Development (DCED). Established in 2001, this EITC program awards tax credits to businesses that make contributions to Scholarship Organizations (SOs) and/or Educational Improvement Organizations (EIOs) that are approved by DCED and published on their website.
How does the EITC work for your business?
- Allocations to GVSDEF through the PA EITC program can provide your company with a substantial state tax credit.
- This contribution not only can help alleviate your company’s tax burden but your donation will impact the quality of our schools and ensure that Great Valley remains a premiere community in Pennsylvania,
How to direct your company’s tax dollars to benefit your community: It’s easy…
- Qualifying businesses need to complete a one-page application and submit it to the Department of Community & Economic Development (DCED) on July 1 (renewal applications are due May 15th). Application forms are available online at www.newpa.com. The entire program’s tax credits are expended in one day so it is imperative that you get your application in for review.
- Decide if you’d like to participate for one or two years. The tax credit is a 75% credit/year (against taxes owed). However, if a company provides a written two-year commitment of equal funding, the credit becomes 90%/year.
Advantages/benefits for your company:
By donating to GVSDEF through EITC you are:
- Maximizing your contribution with no additional out of pocket expense to you.
- Increasing goodwill in the community.
- Supporting public education which is besieged with unpaid state and federal mandates.
- Directing where your tax dollars are spent!!!
What kinds of programs does my EITC money support?
- STEAM Programs that must provide an experience for students that enhance what is being taught within the STEAM curriculum.
- Technology Programs that will enhance a student’s core curricular experience especially if/when we are faced with another pandemic that forces remote learning.
- Project Lead the Way provides instructional design centers for hands-on, real-world activities, projects, and problems that help students understand how the knowledge and skills they develop in the classroom may be applied in everyday life.
- Dual Enrollment that offers instruction or programming that provides credits/advanced placement at a two-year or four- year college or university authorized by the Department of Education.
- Artist in Residence ensures that resident and visiting authors and performers share their valuable experiences and special skills with our students.
- Field Trips that provide a concrete learning experience that enhances the student’s traditional curricular exposure obtained in the classroom.
The EITC program provides a compelling reason for local businesses to invest in Great Valley School District Education Foundation and our Great Valley public schools. The initiatives approved through the EITC program not only represent those that are important to GVSD, but also represent initiatives that the greater community, including local businesses, want to support.
– Former Foundation President Elizabeth McGarrigle