Marywood University Announces Eligibility for Educational Improvement Tax Credit Program (EITC)
Your company can transform the lives of future college students through the EITC program by making a contribution to Marywood’s MOMENTUM program.
HOW IT WORKS
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 basis for contributions to EITC approved
organizations like Marywood University. Companies in Pennsylvania that pay any of the following taxes
qualify to participate:
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
What is the Educational Improvement Tax Credit (EITC) Program?
The EITC Program enables companies to support nonprofit schools at minimal cost. Instead of sending tax dollars to Harrisburg, companies can reallocate them to support Marywood University’s MOMENTUM Program. This program enables students to earn college credits at a significantly reduced cost while still in high school.
Who may make EITC gifts?
You might be surprised. Businesses ranging from neighborhood pharmacies, to mid-sized companies, to large corporations, are all eligible.
How much of a business’ tax liability can be donated to Marywood University through EITC?
Participating businesses can receive a tax credit equal to 75% of a contribution up to $750,000 per year. The credit increases to 90% if the business agrees to provide the same amount for two years.
Can Marywood help me apply?
Yes. We will work with you to make the process as simple as possible. Contact Pat Rosetti ’93 at 570-961- 4596 or firstname.lastname@example.org. For additional information, visit www.newpa.com/EITC.