Tax Credit Opportunities for Businesses

The Penn Manor Education Foundation has recently been approved for this fiscal year as an Educational Improvement Organization as defined by the Educational Improvement Tax Credit Program (EITC).  The State of Pennsylvania allows a tax credit equal to 75% of any amount contributed to PMEF if the contribution is a one-year gift.  Businesses that make a two-year gift of the same amount receive a tax credit totaling 90%.  The following taxes are eligible for this program:

>  Corporate Net Income Tax
>  Title Insurance Company Shares Tax
>  Capital Stock Franchise Tax
>  Insurance Premiums Tax
>  Bank & Trust Company Shares Tax
>  Mutual Thrift Institutions Tax

The EITC program is a wonderful opportunity for area businesses to improve and enhance the educational opportunities of Penn Manor students at all levels by leveraging their gift through this generous tax credit program.  PMEF utilizes these gifts to fund classroom venture grants that go beyond the normal offering of public schools.  Enriching artist-in-residence programs and programs enhancing the availability of educational technology are also sponsored.

Pennsylvania’s Department of Community and Economic Development administer the EITC Program. The first step in getting a tax credit approved is done by filling out the application attached to this announcement and mailing it to Harrisburg.  If your accounting department or CPA firm has any questions or requires help in completing this please let us know at once.

We at PMEF thank you on behalf of all our students for considering a contribution made via this tax credit program.  The generosity of our business community continues to serve as a tremendous asset in allowing us to meet our educational goals.