Educational Improvement Tax Credit (EITC)

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

FAQ

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.

Contact Pat Rosetti ’93 at 570-961-4596 or email rosetti@marywood.edu.

For additional information, visit www.newpa.com/EITC.


Peoples Security (2019)

Peoples Security presents an Education Improvement Tax Credit (EITC) donation for $2,000 to Marywood University for the MOMENTUM Program.

From left: Joseph Ferretti, Executive Vice President and Senior Lending Officer; Patricia Rosetti '93, Marywood University Leadership Annual Giving Officer; Sharon Byrne, Senior Vice President and Senior Corporate Lending Officer

Diamond K Inc. (2019)

Diamond K Inc. presents an Education Improvement Tax Credit (EITC) donation to Marywood University for the MOMENTUM Program.

From left: Michael J. Wincovitch, Diamond K Inc. Director of Business Development; Patricia Rosetti '93, Marywood University Leadership Annual Giving Officer.

FNCB Bank (2019)

FNCB Bank presents a $3,000 Education Improvement Tax Credit (EITC) donation to Marywood University for the MOMENTUM Program.

From left: Patricia Rosetti '93, Marywood University Leadership Annual Giving Officer; and Gerard Champi, FNCB Bank President and CEO.

Fidelity Deposit and Discount Bank (2018)

Fidelity Deposit and Discount Bank, Dunmore, donates $15,000 in EITC funds to Marywood University's MOMENTUM program.

Left to right: Sister Mary Persico, IHM, President, Marywood University; Dan Santaniello, President, Fidelity Deposit and Discount Bank; Patricia Rosetti '93, Marywood University Leadership Annual Giving Officer.

Waste Management (2018)

Waste Management presents an $6,000 Pennsylvania Education Improvement Tax Credit (EITC) donation to Marywood University.

From left:  Patricia Rosetti '93, Marywood Leadership Annual Giving Officer; Christina Weaver, Account Manager, Waste Management.

Fidelity Bank (2018)

Fidelity Deposit and Discount Bank, Dunmore, donates $15,000 in EITC funds to Marywood University's MOMENTUM program.

Left to right: Patricia Rosetti '93, Marywood University Leadership Annual Giving Officer; Dan Santaniello, President, Fidelity Deposit and Discount Bank;  Sister Mary Persico, IHM, President, Marywood University.

FNCB Bank (2018)

FNCB Bank presents a $2,500 Education Improvement Tax Credit (EITC) donation to Marywood University for their Momentum Program. Marywood University's Momentum Program provides high school juniors and seniors with the opportunity to get a head start on college by enrolling in college level courses. From left: Patricia Rosetti, Marywood University Leadership Annual Giving Officer; and Gerard Champi, FNCB Bank President and CEO.

Landmark Community Bank (2018)

Landmark Community Bank presents an $1,500 Pennsylvania Education Improvement Tax Credit (EITC) donation to Marywood University's Momentum program, presenting high school juniors and seniors with the chance to enroll in college-level courses to get a head start on their college education. From left: Patricia Rosetti '93, Marywood Leadership Annual Giving Officer; Francis E. "Trip" Crowley, Landmark Community Bank Branch Manager/Vice President; David B. Wintermute, Landmark Community Bank Commercial Relationship Manager.

Waste Management (2018)

Waste Management presents an $8,000 Pennsylvania Education Improvement Tax Credit (EITC) donation to Marywood University's Momentum program, presenting high school juniors and seniors with the chance to enroll in college-level courses to get a head start on their college education.

From left: Christina Weaver, Account Manager, Waste Management; Patricia Rosetti '93, Marywood Leadership Annual Giving Officer.

Fidelity Bank (2017)

Fidelity Deposit and Discount Bank, Dunmore, donates EITC funds to Marywood University for their MOMENTUM program.

Left to right: Dan Santaniello, President, Fidelity Deposit and Discount Bank, Sr. Mary Persico, IHM, President, Renée Zehel, Vice President for University Advancement, Marywood University

FNCB Bank (2017)

FNCB Bank presents a $2,000 Pennsylvania Education Improvement Tax Credit (EITC) donation to Marywood University’s Momentum Program which provides high school juniors and seniors with the opportunity to get a head start on college by enrolling in college level courses.

From left: Nancy Jeffers; FNCB Vice President, Commercial Officer; Renée Gregori Zehel, Marywood Vice President University Advancement; Sister Mary Persico, IHM, Ed.D. Marywood President; and Jerry Champi, FNCB President & CEO.