EITC applications are being accepted NOW!
Last year the Y received $182,400 in EITC contributions. This is a win-win-win for local children, the Y and your C- or S-Corp company.
Click here to see how your corporate dollars make a difference in the lives of local children.
• Re-enrollment applications are due June 29
• C-Corp for-profit applications are due July 2
• S-Corp for-profit applications are due July 9
But you must apply quickly for EITC eligibility – as funds are limited and allocated on a first-come, first-served basis. Click here to download application materials.
Troubles with the link? Copy and paste the following into your browser: http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/educational-improvement-tax-credit-program-eitc
Who may make EITC gifts?
C-Corporations (taxed at the corporate level)
Limited Liability Companies (LLC’s) and Partnerships (LLP’s)
Here are the business taxes you can claim credits against:
- Corporate net income tax
- Capital stock/franchise tax
- Bank and trust company shares tax
- Title insurance companies shares tax
- Insurance premiums tax
- Mutual thrift institutions tax
How much of a business’ tax liability can be donated to a Y educational program through EITC?
- Businesses can receive a tax credit equal to 75% of a contribution up to $300,000 per taxable year.
- The tax credit increases to 90% if the business agrees to provide the same amount for two consecutive years.
- Qualified businesses are entitled to a 100% tax credit for the first $10,000 of a contribution made to a Pre-K Scholarship Organization.
Which Programs are eligible for EITC support at the Y?
There are 7 programs within the two categories which are currently EITC eligible at the YMCA of Greater Pittsburgh:
1. Pre-K Scholarship Organization Program (up to 90% tax credit)
- Early Learning Child Development Centers
2. Educational Improvement Organization Programs
- Starfish Summer
- Starfish Afterschool
- Starfish Spring
- Contain, Maintain and Connect
- Outdoor Environmental Education
- Youth & Government
Where do I get an application?
The simple, one page application form is available through the Department of Community and Economic Development at (717) 787-7120 or at www.newpa.com. Select “EITC Business Guidelines” for further information and the application form.
The process is very simple:
- Business completes one page application and submits it to the Department of Community and Economic Development (DCED).
- Business receives a letter of approval from DCED.
- Business submits monetary contribution within 60 days to YMCA of Greater Pittsburgh.
- YMCA of Greater Pittsburgh provides business with acknowledgment of contribution.
- Business submits acknowledgment to DCED.
- DCED communicates with PA Dept. of Revenue and applicable tax credit is applied to business tax account.
- Credit is taken as a payment of taxes on businesses’ annual tax return filing.
Can the Y help me apply?
Yes. Please call us. This is an easy one page application. We are happy to guide you through the process and answer your questions.
Who should I contact at the YMCA of Greater Pittsburgh to learn more or to discuss my interest in making an EITC gift?
Carolyn Grady 412-227-3828 firstname.lastname@example.org
Aliya Durham 412-227-5317 email@example.com
Our Supporting Educational Improvement Organizations
The following Educational Improvement Organizations support the Starfish Literacy program, the Youth & Government program, Environmental Education programs at YMCA Camp Kon-O-Kwee Spencer, Deer Valley YMCA Family Camps and Camp T. Frank Soles.
Bridges & Company
Peoples Natural Gas
P.J. Dick, Incorporated
Silicon Materials, Inc.
West View Savings Bank
These Educational Improvement Organizations support Pre-Kindergarten scholarships at the YMCA child care center at Duquesne University, YMCA Strawberry Patch, Room To Grow Early Childhood Education Center, East Suburban Family YMCA, Penn Hills YMCA and the Wilmerding YMCA.
The Nutrition Group
Peoples Natural Gas
UPMC Health Plan