Education Improvement Tax Credit Program / EITC
If you are a Pennsylvania business owner, you can reduce your state tax liability by making at tax credit gift to Saint George School through the Diocese of Erie Star Foundation. Monies from this program go to The Saint George Scholarship Fund.
The Pennsylvania Educational Improvement Tax Credit Program lets your business:
• Receive a tax credit equal to 75% of your gift to the STAR Foundation, up to a maximum of $300,000 per taxable year.
• Increase the tax credit to 90% of your contribution if the business agrees to provide the same amount of
contribution to an organization for two consecutive years.
• For contributions for pre-kindergarten scholarships, receive a tax credit equal to 100% of the first $10,000
contributed and up to 90% of the remaining amount contributed up to a maximum credit of $100,000 annually.
The Saint George Scholarship Fund
The Education Improvement Tax Credit Program (EITC) is a unique program that allows PA businesses to make a charitable gift based on the amount of state taxes it pays. In return, the business receives a 90% tax credit. A gift of $10,000 to Saint George School earns a $9,000 tax credit for the business. Moreover, the gift can then be claimed on the business’s federal tax return. Thus, a gift of $10,000 to SGS will cost your business less than approximately $750.00.
This year, the state of PA has extended this program to more businesses - all Subchapter S Corporations, LLC, Limited Partnerships, and General Partnerships can participate in the program.
Currently, all tax credit gifts made to SGS are funneled through the Diocese’s scholarship program called the STAR Foundation. A company must designate Saint George School as the recipient of the gift. Any gifts that are restricted for Saint George School will benefit our students directly. This fund provides numerous students with financial aid in the form of scholarships to Saint George School. It puts a SGS education within reach of families who otherwise might not be able to afford one.
Please consider partnering with Saint George School to direct some of your business tax dollars to this program.
Though the State puts limits on this program, there are currently millions of dollars that could be allocated to Saint George School. The more businesses that participate in this program, the more affordable SGS becomes to families.
If you would like more information or have questions regarding the ETIC Program, please contact SGS as soon as possible, and ask for Elizabeth Fehr, Advancement Director, 814-864-4821 x 277 or visit the PA School Choice online at http://www.paschoolchoice.org/reach/cwp/view.asp?a=1367&q=569369
On behalf of the students of Saint George School, we thank the following businesses for their participation and continued support and investment in Saint George School!!!!
Bayside - Hamot Medical
Bishop & Company Investment Management LLC
Church & Murdock
Great Lakes Metal
Hamot Medical Center
McCeary Roofing Company
Reddog Industries, Inc.
1. Complete and submit an EITC application with the PA Department of Community and Economic Development
(DCED), which will then determine whether your business qualifies for the credit. The application is a very simple,
2. Your business should receive an approval letter from the DCED, stating the Star Foundation is an approved
organization and is able to receive your tax credits. Letters are generally sent within 10 business days. Once in
receipt of the approval letter, your business has 60 days to makes the tax credit gift to the STAR Foundation.
3. It is very important to remember to restrict your tax credit gift to Saint George School. Any funds that are not
restricted to Saint George will be distributed throughout the diocese.
4. Please notify Saint George School of your gift.
5. Thank yourself for making an investment in education and a difference in the life of a child.