For parents:  EITC program

YOU CAN STILL MAIL IN APPLICATIONS AFTER JUNE 30TH!!!
Just remember, it is first come first serve!!

Business' EITC Program

First Love Christian Academy uses the Penngift Foundation, an audited 501-c3, state-qualified scholarship organization.

 Business Information In a Nutshell

Do you pay any of the following PA Taxes?

Corporate net income tax
Capital stock franchise tax
Band & trust company shares tax
Title insurance company shares tax
Insurance premiums tax
Mutual thrift institutions

If so, you qualify to apply for the PA tax credit. IN A NUTSHELL: Any business can take real money that you are going to pay in taxes and give it to First Love Christian Academy to help a local student obtain a Christian education who otherwise could not afford it. The scholarship fund helps students who are enrolled in Fist Love Christian Academy.

Over 1,900 Pennsylvania businesses have already taken advantage of Educational Tax Credits, pledging in excess of $90 million dollars to help the state's children!
 

Beginning July 1- Applications are processed on a first-come, first-served basis so...to show our appreciation to you for filling out the application, a Pennsylvania Representative will hand-deliver your application on June 30th!
 

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Summary: How can my business apply?
I don't want the summary.  Take me through the Penngift Advisory Page.

download the application here: EITC Application(Appendix 1),

(forms in pdf format) You will need Adobe Reader to download. Get your free copy below.



 or through contacting First Love Christian Academy 724-228-FLHS.

Mail your application in an envelope marked “EITC":

Representative Sam Rohrer
Attn: Betty Jo (EITC)
Pennsylvania House of Representatives
P.O. Box 202128
Harrisburg, PA 17120-2128

Once again, a Pennsylvania Representative
 will hand deliver (see above) your application on June 30th!

YOU CAN STILL MAIL IN APPLICATIONS AFTER JUNE 30TH!!! Just remember, it is first come first serve!!

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Continue to read if you need more information.

Get more information today by reading below!

History of the Tax Credit
    In a relatively quiet, but significant way, the Pennsylvania Legislature offered a great incentive to enable PA businesses to support Educational Advancement Efforts in the state two years ago. This effort enables businesses to help ensure that quality educational programs, such as the programs at First Love Christian Academy, will continue to be available to serve lower-income students. It is a tax credit (not just a deduction) called the Educational Improvement Tax Credit.  In December of 2003 they increased that credit to a total of 50 million dollars.  This year is expected to see an increase as well. 

If there are funds available and the company does not owe back taxes, DCED will send an approval letter to the applicant. The company then has 60 days to make its donation(s) and 90 days to send proof of the donation(s) to DCED.

We need to act quickly!  Although the program may be expanded this year, it is an idea which businesses and their tax accountants find attractive.

The Pennsylvania Legislature offers a tax credit (not just a deduction) to businesses like you called the Educational Improvement Tax Credit (EITC). Enacted in May 2001, the EITC provides Pennsylvania companies with a tax credit (up to 90%) for contributions to non-profit scholarship or educational improvement organizations. It also will allow you to utilize this contribution as a charitable gift on your federal taxes. A "win-win" situation for businesses & schools, it is simply reallocating your tax dollars to the local community.  

Beginning July 1- Applications are processed on a first-come, first-served basis...

Tax Credits: More Attractive than a Standard Charitable Donation?

Yes! While deductions reduce your amount of taxable income, tax credits reduce your actual tax bill, dollar-for-dollar. A one-year commitment allows a business 75% credit against taxes owed; however, a company who makes the same commitment for two consecutive years will be eligible for a 90% credit. Tax credits are utilized AFTER your tax liability is established and eligible companies may take up to $200,000 in tax credits per year.

The goal is to allow families to choose the right school for their child without letting economics become the deciding factor.

The first state to pass an education tax credit aimed at corporations, the PA tax credit has in its early years already changed thousands of families' lives in Pennsylvania. Already tens of thousands of children state-wide have received scholarships and thousands of businesses have participated. Find out more today...

Other information:

A business must complete and submit an EITC application annually with the DCED, which will then determine whether the firm qualifies for the credit. Tax credits cannot exceed the tax liability of a business for a given taxable year, and may not exceed $200,000 annually per business. Also, a tax credit must be applied in the taxable year the contribution is made.

Both small and large businesses are taking part in the program.

Companies can apply to be apart of the tax credit at any time.  The Department of Community and Economic Development (DCED), the agency overseeing the tax credit, will put these applications in random order on each day they are received. DCED will approve corporations until the annual cap is reached. The Board of First Love Christian Academy has established resources to help local businesses take advantage of this opportunity while helping our students at the same time.

Once again, a Pennsylvania Representative
 will hand deliver (see above) your application on June 30th!

The business community has overwhelmingly responded to the challenge. Over 1,900 Pennsylvania businesses have already taken advantage of Educational Tax Credits, pledging in excess of $90 million dollars to help the state's children!

For additional Information on the EITC and other school choice news on The PA REACH web site at:
http://www.paschoolchoice.org/reach/cwp/view.asp?a=1367&Q=568487&reachNav=|