State Tax Credit Programs at ECA
CLICK HERE to learn how you can turn your Pennsylvania Tax Dollars into Eden Scholarships
Why support Eden’s scholarship fund with these tax credits?
These tax credits are a win-win for both businesses and students. It keeps tax dollars local and provides many families the only opportunity they have for a choice in their children’s education. An educational experience at Eden Christian will positively impact a child for life by educating the whole child and ultimately influencing our community and nation one child at a time.
What is the EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC) Program?
A program that provides Pennsylvania businesses with a tax credit up to 90% for contributions to nonprofit scholarship or educational improvement organizations.
Who can qualify?
Any business registered in the PA Commonwealth that has a liability in any of the following areas:
Bank and trust company shares tax, insurance premiums tax, title insurance companies shares tax, mutual thrift institution tax,
corporate net income tax, capital stock franchise tax, personal income taxes, pass-through from S-corporations, LLC’s, LP’s, and partnerships, and Malt Beverage Tax (Tax Reform Code Article XX).
How does a business apply?
The application process is completed online (our Scholarship Organization, ACSI, is available to assist with the entire process). Once approved, a business makes its donation within 60 days to our Scholarship Organization, ACSI, and designates the donation to be used for Eden. The annual maximum allowed per year is $750,000 (except between October 1-November 30 when the cap is lifted if credits have gone unclaimed. The per-business caps go back in place after November 30.)
What % tax credit is allowed?
The program offers either a two or one year commitment. For a two-year commitment, a business can receive a PA tax credit for 90% of the amount contributed. For a one-year commitment, the percentage is 75%. This is a dollar-for-dollar reduction in the tax payment required for a business. These are actual credits, not deductions. The entire amount of contribution is a deduction against net income as a charitable donation for federal taxes.
What is the OPPORTUNITY SCHOLARSHIP TAX CREDIT (OSTC) Program?
This program and the application process are the same as EITC except the tuition scholarships are awarded to eligible Eden students residing within the boundaries of a low-achieving school district and whose household’s annual income is not greater than $75,000 plus $15,000 for each dependent member of the household.
Why support Eden with the OSTC Program?
Eden can be for the young people given this chance, the catalyst that opens their hearts and minds to all that God designed them to be. The Opportunity Scholarship funds are only used for children who otherwise are destined to stay trapped in low-achieving schools in the greater Pittsburgh area. What a difference Eden Christian Academy can make for them!