Through the Pennsylvania Education Improvement Tax Credit Program, your business can achieve savings on your Pennsylvania state income taxes in two ways:
(1) Credit against PA state taxes-the tax deducation is dollar-for-dollar against state tax due
(2) Deducation against net income as a charitable donation

The EITC Program allows your company to support our programs at a minimal cost to you. Instead of sending your tax dollars to Harrisburg, companies can reallocate them to support innovative youth education programs in their own communities.

Who can make these gifts?

• C-Corporations (taxed at the corporate level)
• S-Corporations
• Partnerships
• Sole Proprietorships
• Limited Liability Corporations (LLC)
• Subchapter S Corporation

What business taxes can you claim credits against?

• 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

How much of a business’s tax liability can be donated to the Franklin Center through EITC?

Businesses can receive a tax credit equal to 75% of a contribution up to $300,000 per taxable year. The tax credit increases to 90% if the business agrees to provide the same amount for two consecutive years. A charitable contribution deduction may be available to a business for the remaining contribution amount not eligible for a tax credit – making the total for cost ZERO.

Where do I get an application?

The simple, one page application form is available through the Department of Community and Economic Development at (717) 787-7120 or at www.newpa.com.   Select “EITC Business Guidelines” for further information and the application form.  The process is very simple:

1. Business completes one page application and submits it to the Department of Community and Economic Development (DCED).
2. Business receives a letter of approval from DCED.
3. Business submits monetary contribution within 60 days to Franklin Center of Beaver County.
4. Franklin Center provides business with acknowledgment of contribution.
5. Business submits acknowledgment to DCED.
6. DCED communicates with PA Dept. of Revenue and applicable tax credit is applied to business tax account.
7. Credit is taken as a payment of taxes on businesses’ annual tax return filing.

When do I submit the application?

For this year, the application should be submitted a.s.a.p., because the money is disbursed on a first-come-first-served basis. The final cut-off to apply is June 30, 2011, and we can receive your donation beginning July 1, 2011. 

Can Franklin Center help me with my application?

YES!!!!!!! Franklin Center employees will complete the application for me and bring it to me for my signature.  They will even mail it!!!!!!!

Who should I contact at The Franklin Center to learn more or to discuss my interest in making an EITC gift?

Please contact Sandra Edwards-Curry, Education Director (sedwards@aaud.org) or Jonathan Pettis, Executive Director (jpettis@aaud.org) at 724-378-2882

The Franklin Center of Beaver County provides innovative education programming for middle and high school age youth in the areas of: Math; Business Education/Entrepreneurship; General Education/Art/Physical Education; Careers/College Prep; Science, Technology and Engineering; and Pre-Medicine.

Please visit our Educational Program Page to see some of the educational programs going on now!