Welcome and thank you for your interest in helping the youth of Washington County!  Please read through the guidelines and watch the video below for assistance and more information.

EITC educational video for FLCA

2007

SUMMARY OF THE BELOW INFORMATION

The letter attached includes important information about your 2006 contribution for private school(s) and the application process for the EITC (Education Improvement Tax Credit) program.

I have included information in this letter about:

1. The tax credit/write off benefits (94-99%) from your contribution;

2. A professional resource advisor (Tom Bowen, Esq., CPA) to help you, if needed;

3. Penngift’s status, experience and policies to manage your funds;

4. The description of the EITC process and source materials;

5. Your critical dates (6/29 or 4/15-6/28) for the 2006 EITC filing process;

6. Help to physically deliver your application to the DCED on 6/29, if needed;

7. The importance of estimating your taxes to achieve maximum contributions;

8. The importance of filing on June 30, 2006 for new applicants; and

9. A special request to share your EITC experience with other business friends.

Penngift is honored to help you award your scholarship funds to needy families. If you need our assistance, please call me at 610-286-1936 or use my e-mail address… jcassidy@fast.net (Do not use the telephone number or internet address on the Penngift Brochure — the mailing address however, is correct.).

We look forward to receiving your designated (or undesignated) private school contribution when the time is right in your Company’s schedule. You may elect to designate more than one school with a single check if desired. Thank you.

Sincerely,
Dr. John M. Cassidy

Managing Director, Penngift Foundation
PENNGIFT FOUNDATION, INC.
P0. Box 121
Elverson, PA 19520
610-286-1936
610-286-1981 Fax
penngift@ptd.net

2007 Advisory- read on

This is your 2007 Advisory as a private school Donor under Pennsylvania’s “Education Improvement Tax Credit” (EITC) program through Penngift Foundation- The letter includes important dates, suggestions, and contacts.

1. You are participating in the EITC tax credit program and benefiting by your Company taking 94% to 99% in credits and write-offs for the funds you contribute. These funds will be contributed to a designated (or non-designated) private school(s) through Penngift.

2. Your accountant and/or tax advisor will most likely have to be involved. To help you, we provide Mr. Tom Bowen, Esq., C.P.A. to answer any specific question that may arise about your Company’s tax status and taking the greatest possible advantage for private education from the EITC program. Tom’s direct office telephone is 717-255-7363.

3. Penngift Foundation (610-286-1936) is an Audited 501 -C3, State-qualified Scholarship Organization. We have helped companies such as yours as the donor to a private schooling during the last five years. Our board supports your interest in private education at both the state and national levels. (e-mail us for a brochure.) Penngift’s five-year experience includes disbursing approximately $1.8 million in private school scholarship awards to students and their families.

4. Penngift’s due diligence and compliance policies give you and your designated school a level of integrity and privacy required as a trusted intermediary with your contributed funds.

5. The EITC process is simple:
(See: EITC application)

a. You or your accountant estimates the amount that each company under your control will pay to the State from a list of tax categories (identified in the attached EITC Business Guidelines)

b. A choice of $200,000 maximum or lesser tax credit for each controlled company is determined for EITC application (in lieu of paying State taxes);

c. You fill out the one page application (Appendix I — see EITC Program Guidelines and Application) for each controlled company with the amount of (a) The tax credit applied for and (b) the private school contribution amount (no mention of your designated school is necessary at this time);

d. Upon receipt of a letter from the DECD within a time allotted, your contribution is made to Penngift Foundation with an amount designated to First Love Christian Academy; and

e. Penngift immediately receipts your contribution. . . Then, that receipt is sent by you to The DECD to be duly noted by the PA Revenue Department as your Company’s tax credit allowance.

f. From there, Penngift begins a rigorous process of working with the private school to screen relative needs and award student scholarships.

*******NOTICE*******

NOTES: GENERAL INFORMATION AND SUGGESTIONS FOR 2007

Please review your estimated taxes due to the State from as many companies as may be taxed under your control.  To obtain the greatest possible contribution for your designated school(s), look at all taxes paid, including capital stock and franchise taxes as well as others.

The reason for filing applications on Friday AM, June 30 is due to the fact that last year available tax credits were depleted by the end of the first day. For this reason, we have made arrangements for delivery of applications through Representative Birmelin’s office in Harrisburg.

Penngift is honored to help you award your scholarship funds to needy families. We work diligently for you and your designated school.  If you need our assistance, call me at
610-286-1936.

The one single request we hear the most from private schools is that they desire donors with tax credit experience to pass the word to other business friends and associates. 

Where do I start? Download the attached .pdf file and fill out the application.  If you have any questions, see above for assistance.

May God bless your efforts to serve!

Kathleen Klein
First Love Christian Academy
P.O. Box 109
Washington, PA 15301
724.228.3547
724.344.6816
 

Summary: How can my business apply?

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.

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.