Gifts from Corporations, including EITC eligible gifts, provide approximately one-fifth of all Breakthrough of Greater Philadelphia direct revenue support in a typical year. Partnerships with businesses also provide us with unique opportunities to expose students to a variety of industries and career fields as they explore their paths to and through college.
Corporate Donations and EITC
Breakthrough of Greater Philadelphia is on the list of Educational Improvement Organizations approved for the Educational Improvement Tax Credit (EITC) program offered through the Commonwealth of Pennsylvania. Pennsylvania’s EITC program awards tax credits to businesses that make contributions to educational improvement organizations or scholarship organizations. Tax credits: Are equal to 75% of a company’s contribution up to a maximum of $750,000 per taxable year; Can be increased to 90% of the contribution, if business agrees to provide same amount for two consecutive tax years. For more information, please contact Breakthrough’s Director of Development (Bruce Bekker, firstname.lastname@example.org or 215-261-6706) or review our short Pennsylvania Educational Improvement Tax Credit (EITC) PowerPoint.
What is EITC?
The PA Educational Improvement Tax Credit (EITC) is a PA Department of Community and Economic Development (DCED) program that provides state tax credits to eligible businesses for charitable contributions. Breakthrough of Greater Philadelphia is approved as an Educational Improvement Organization (EIO) under the EITC program.
Any organization which pays:
- 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
How to apply
EITC guidelines and applications can be found here.