Educational Improvement Tax Credit Program (EITC)

The Foundation has been approved by the PA Department of Community and Economic Development (DCED) as an educational improvement organization for the 2023-2024 school year. This means we are eligible to receive EITC donations, and businesses that donate to us receive tax credits in exchange.

Tax credits may be equal to 75 percent of a contribution, up to a maximum of $750,000 per taxable year. Credits can be increased to 90 percent of the contribution if a business agrees to provide the same amount for two consecutive tax years.

Projects & Programs we’ve funded through EITC

Grants that PVSD Foundation supports fall under one or more of the following categories: Science, Technology, Engineering, or Math, also known as STEM. Here are updates on some of the projects that have been supported through EITC funding:

Mega Chess Set (2022)

Robotics Limelight (2022)

Tinker Tank (2022)

Trout in the Classroom (2021)

Vikings Genius Bar (2020+)

The number of EITC grants supported by the school year.

Eligible businesses include those authorized to do business in Pennsylvania and which are subject to one or more of the following taxes:

– Corporate Net Income Tax
– Capital Stock Franchise Tax
– Bank and Trust Company Shares Tax
– Title Insurance Companies Shares Tax
– Insurance Premiums Tax
– Mutual Thrift Institution Tax
– Insurance Company Law of 1921
– Personal Income Tax of S corporation shareholders or Partnership partners

Business Application Timeline:

May 17 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 21/22 to renew their 2-year commitment.
Note: this date is typically May 15 but has been adjusted this year until the next business day.
May 17 – Businesses who are in the middle of their 2-year commitment.
Note: this date is typically May 15 but has been adjusted this year until the next business day.
July 1 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.

For applications and other information, please visit the Pennsylvania Department of Community and Economic Development.

Educational Improvement Tax Credit Frequently Asked Questions

What is the “Educational Improvement Tax Credit” Program?
The official name for the program is Act 4 of 2001. The program amends the Public School Code to authorize tax credits for businesses contributing to educational improvement organizations. The program is administered through the PA Dept. of Community and Economic Development.

What are “Educational Improvement Organizations?”
Educational Improvement Organizations are non-profit organizations approved by DCED for participation in the EITC program by
demonstrating that they provide innovative educational programs for children. The Perkiomen Valley School District Foundation is an
approved Educational Improvement Organization.

Who can participate?
Any business that pays Pennsylvania taxes, including Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company Shares
Tax, Insurance Premiums Tax, Mutual Thrift Institutions Tax, or Title Insurance Companies Shares Tax.

How much of a tax CREDIT will my business receive?
Companies who provide a written two-year commitment get a 90% credit, and companies making a one-year contribution receive a 75% credit.
Companies may contribute any amount up to $200,000 annually. (Existing charitable deductions still apply to help your money go further!)
This is not just a deduction. Your company gets to spend your state taxes and then again to support the excellent programs of the Perkiomen Valley School District Foundation!

Where can I get the details of the EITC program?
Answers to other FAQs can be found here. To learn more about the EITC program, visit here or contact Kristin Craven, Executive Director, FoundationED@pvsd.org.

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Thank you to our EITC Supporters