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 email@example.com
Aliya Durham 412-227-5317 firstname.lastname@example.org