PA State Tax Credit Program
Some businesses in Pennsylvania can give to Covenant Christian Academy, and it will not cost them a dime!
Qualifying businesses can direct a portion of their state taxes to Covenant Christian Academy through the Educational Improvement Tax Credit (EITC) program. Businesses can commit one or two years. If businesses commit to giving for two years, the tax credit is virtually 100%, so the only difference for your business is that you can give to Covenant Christian Academy instead of giving to the Commonwealth of Pennsylvania.
Frequently Asked Questions about EITC
What businesses qualify for Pennsylvania’s Educational Improvement Tax Credit?
The Commonwealth of Pennsylvania identifies qualified corporations by the types of taxes they must pay. A corporation that pays corporate net income tax, capital stock/foreign franchise tax, bank and trust company shares tax, title insurance companies shares tax, insurance premiums tax or mutual thrift institutions tax all qualify. A quick call to the accounting department is all it takes to determine if a corporation pays these taxes.
Must I be an owner to consider the Educational Improvement Tax Credit?
No. If you are an employee or valued customer of a particular business who might qualify, you can speak to either Michelle Lingle or Natalie Martin in the Covenant Christian Academy Development Office. They will work with you to determine how to best inform the business of this unique opportunity.
What does Covenant Christian Academy need to do to receive this support?
The steps are very simple. Once the appropriate representative has been contacted and eligibility is determined, the company fills out a one page application. The application is submitted to the Department of Community and Economic Development (DCED). Once the DCED approves the application they will inform the business of their approval. The business has 60 days to forward their tax credit amount to the Classical School Foundation. The Classical School Foundation holds the money on behalf of Covenant Christian Academy.
Where can I lear more about the Educational Improvement Tax Credit?
Please click here to visit the Pennsylvania Department of Revenue.
For more information
Director of Development
717-540-9885 x 232
Joseph E. Sanelli
717-540-9885 x 230