Educational Improvement Tax Credit For Businesses
Engaging the Next Generation of Environmental Stewards
Heritage Conservancy is excited to announce that it has been designated as an Educational Improvement Organization. Our team is proud of the enriching programs we have already shared with the youth throughout this community. We look forward to expanding these programs through business partnerships to ensure that the next generation develops a sense of place and furthers their own connection to our natural and historic heritage.
Everybody wins!
Because of this designation as an Educational Improvement Organization, businesses are eligible for an Educational Improvement Tax Credit (EITC) when they donate to Heritage Conservancy’s educational programming.
As of May 1, 2019, the Pennsylvania Department of Community and Economic Development describes the Educational Improvement Tax Credit (EITC) below.
What EITC means for your business:
Pennsylvania’s EITC program is a way for eligible businesses to increase educational opportunities for students while earning tax credits by contributing to an Educational Improvement Organization such as Heritage Conservancy.
Uses
Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
Eligibility
Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
Personal Income Tax
Capital Stock/Foreign Franchise Tax
Corporate Net Income Tax
Bank Shares Tax
Title Insurance & Trust Company Shares Tax
Insurance Premium Tax (excluding surplus lines, unauthorized,
domestic/foreign marine)
Mutual Thrift Tax
Malt Beverage Tax
Retaliatory Fees under section 212 of the Insurance Company Law
of 1921
Funding
Tax credits equal to 75 percent of its 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.
To see up-to-date EITC information, visit the Pennsylvania Department of Community and Economic Development’s website HERE.
What EITC means for your community:
Heritage Conservancy will provide free or low cost educational programs to support local schools. Programming offered by Heritage Conservancy helps to connect school-aged children with our local natural and historic heritage through diverse and innovative activities that provide opportunities for hands-on learning and connections to STEAM/STEM curriculum both indoors and outside in nature.
Make an impact today by investing in your community’s environmental protectors of tomorrow! To learn how you can get involved in supporting Heritage Conservancy’s educational initiatives through the EITC, contact Katie Paone-Kulp, Manager of Development, at kpaone@heritageconservancy.org or 215-345-7020 ext. 108.