The University recently received several Educational Improvement Tax Credit donations to benefit its Momentum Program, which enables high school students to earn college credits at a significantly reduced cost while still enrolled in high school.
Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made. These are available on a first-come, first-served based for contributions to EITC-approved organizations like Marywood University. Businesses ranging from small neighborhood pharmacies to mid-sized and large corporations are all eligible. Participating businesses can receive a tax credit equal to 75 percent of a contribution, up to $750,000 per year. The credit increases to 90 percent if the business agrees to provide the same amount for two consecutive years.
Businesses that recently donated to Marywood University’s Momentum Program through the EITC Tax Credit include FNCB Bank; Fidelity Deposit and Discount Bank; Waste Management; Peoples Security Bank and Trust; MEMCO Realty Company Limited; and DK Trading Corporation.
For additional information about the Educational Improvement Tax Credit or about Marywood University’s Momentum program, please visit www.marywood.edu/support/eitc/, or call (570) 348-6238.