EITC for Corporations

Give A Learning Experience At College Settlement’s Outdoor School And Receive A State Tax Credit This Year!

Qualifying companies can receive tax credits equal to 75 percent of their contribution up to a maximum of $750,000 per taxable year. This can be increased to 90 percent of the contribution, if the business agrees to provide the same amount for two consecutive tax years.

Is your business, or the business you work for, currently registered with the PA EITC program?

If your employer participates in the program, we encourage you to request that your employer consider College Settlement to receive part of their annual donations. If a business that you own participates in the program we encourage your business to consider College Settlement to receive part of your business’s annual donations. Requests for EITC tax credits must be submitted by May 15. We add significant value to the teachers, students and school districts we serve. We are actively engaged in the education of children, teens and special needs students utilizing hands-on curriculum in the areas of environmental science (STEM), sustainability, nutrition, personal health, personal development and team skill building through camping and outdoors experiences. We are an Educational Improvement Organization (EIO) registered with the PA Educational Improvement Tax Credit (EITC) program.

A business making donations under the program can receive State tax credits from 75 to 90% of its charitable donation. Donations under the program to College Settlement would support our exciting educational work with children from school districts in Philadelphia and Montgomery County,in programs of one, three, or more days at our Camps at Horsham. This year we welcomed teachers and students from Title I Free and Reduced lunch schools who could only come because of the generosity of companies like Hatboro Federal Savings, Softerware, and BB&T Bank.

What are Educational Improvement Tax Credits? This program was created to provide an incentive for charitable giving by PA businesses to benefit innovative community education programs. This is actually a low-cost gift because the business is redirecting a portion of its Pennsylvania state business taxes to the participating EIO of your choice. A one-year commitment qualifies for a state tax credit of 75% of the contribution. A two-year commitment qualifies for a tax credit of 90%. This donation can also be claimed as a charitable contribution for federal tax purposes subject to certain limitations.

Tax credits under the program are limited to Pennsylvania state taxes in the year of donation and cannot be carried forward. You should consult with a tax advisor before your business makes a donation under the program.

EITC tax credits are available to offset the following Pennsylvania State 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
  • Insurance Company Law of 1921
  • Personal Income Tax of S Corporation Shareholders
  • Personal Income Tax of Partners/Members

We look forward to speaking with you.

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