YOUR BUSINESS WINS – PA tax credit for up to 90% percent of its contribution
THE ABINGTON COMMUNITY WINS – Educational Programming
The Abington Community Library has been approved as an Educational Improvement Organization (EIO) by the Pennsylvania Department of Community and Economic Development. Eligible businesses can now receive state tax credits through the Educational Improvement Tax Credit program (EITC) and claim a charitable donation for their support of four innovative educational programs at the Library: the Teen Reading Lounge; Financial Literacy Programs for Children and Teens; the Reading Club; and Battle of the Books. Funding will provide materials to enhance implementation of these four programs and benefit our community’s youth in many ways.
The EITC program permits PA businesses, subject to several credit eligible taxes including personal income tax and corporate net income tax, to take a tax credit of 75% of a contribution to an educational improvement organization such as the Library. This can be increased to 90% of the contribution, if the business agrees to provide the same amount for two consecutive tax years. For more information or to download the application visit http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/educational-improvement-tax-credit-program-eitc. Applications are processed on a first-come, first-served basis beginning Wednesday, July 1, 2015. NOTE: Available EITC funds are exhausted rapidly. Applications that are not received electronically on July 1, 2015, will most likely not be approved.
By participating in the EITC program, businesses are supporting a library committed to the lifelong learning, educating and preparing students for professional and personal lives of civic engagement, honorable character, community service, and thoughtful leadership. For more information about the four innovative educational programs contact: Leah Rudolph, Director, 570.587.3440 or firstname.lastname@example.org.