For Businesses

EITC – Educational Improvement Tax Credit Program

The Commonwealth of Pennsylvania’s Educational Improvement Tax Credit (EITC) Program is administered by the PA Department of Community & Economic Development (DCED) under Act 48. PA-EITC awards tax credits to businesses that make contributions to scholarship organizations and/or educational improvement organizations that are on a list approved and published by (DCED). Your contribution (largely offset by tax credits and federal tax deduction) can impact the number AND quality of the STEM-centered educational supplemental curriculum programs of the American Helicopter Museum and Education Center!

IN A NUTSHELL: PA-EITC for QUALIFYING and APPROVED BUSINESSES:

Uses

  • Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.

Funding

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

 

Businesses which qualify:

  • Businesses authorized to do business in Pennsylvania who 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; partnership partners and LLPs; LLCs.

 

How does the EITC program benefit your company:

  • By making a contribution to the American Helicopter Museum and Education Center through the EITC program you are supporting students of ALL ages (from pre-K through college) in application of science and technology in specific problem-solving: rotary-wing aeronautics.
  • A sizeable contribution at very nominal, or NO out of pocket expense.
  • Encouraging STEM academics pursuit and career paths in science, engineering and/or technology.
  • Impacting where tax dollars are spent – by directing your taxes through tax credits.

 

For more information:

  • Visit the PA Educational Improvement Tax Credit Program website:  www.NewPA.com/eitc and/or contact your tax advisor.

 

  • If your business is already an approved PA-EITC participant:

Please provide us with a contact name of the EITC coordinator at your company (often CFO/Controller; or President)

  • If your business has not (or not in past two years) submitted for approval:

The submit for approval date is JULY 1. Contact us for assistance BUT the company must online submit to PA on JULY 1. The details are at: www.NewPA.com .

 

Click here for a list of Business Participants in the Educational Improvement Tax Credit Program in 2015

 

 

  • The American Helicopter Museum and Education Center is approved as an Educational Improvement Organization by the Commonwealth of Pennsylvania.

 

The bottom line: your company can provide substantial STEM education benefits at nearly ‘net $0’ ! Scores of classrooms and hundreds of students will not only learn and see important history – but many will be INSPIRED!!

 

DONATE TODAY!

 

 

For more information, please contact:  

Sarah Sands, Executive Director, American Helicopter Museum and Education Center

Email: s.sands@americanhelicopter.museum

610-436-9600 ext. 203