Corporate sponsorships key to foundation grant funding
Administered by the Department of Community and Economic Development (DCED) the Educational Improvement Tax Credit program (EITC) provides the opportunity for qualified businesses to make charitable contributions to educational organizations, in lieu of state tax payments.
The EITC program provides registered Pennsylvania companies with a 75% tax credit for donations to nonprofit educational improvement organizations like The Wildcat Foundation. If a business commits to making the same donation for two consecutive years, the tax credit increases to 90%.
The Wildcat Foundation is approved as a K-12 Educational Improvement Organization and as such, may accept your EITC contribution. Learn more about this valuable program in this EITC Program Information Guide.
The Foundation utilizes funds contributed through the EITC program to support the following approved programs:
- Junior Achievement (BizTown, Economics for Success and YES!)
- Trails and Trees Environmental Center
- Internships and Co-Ops
- Dual Enrollment
- STEAM MakerSpaces with K-12 programming
- Media Production
- Model UN
- Technology Student Association (TSA)
- Design4Change (eighth grade curriculum)
Pennsylvania businesses that are subject to one or more of the following taxes may be eligible to register for EITC
- 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 Feeds under 212 of the Insurance Company Law 1921
How to Apply for tax credit program
The business application guide explains the process of applying. Tax credit applications will be processed on a first-come, first-served basis by day submitted. All applications received on a specific day will be processed on a random basis before moving on to the next day’s applications. Applications will be approved until the amount of available tax credits is exhausted.
Thanks to the many local and regional businesses that choose to support MASD students and Wildcat education with their EITC contributions