What is EITC?
This program, run through the Commonwealth of Pennsylvania, was designed to offer tax credits to eligible businesses with the credits being designated to an Educational Improvement Organization. Provident Charter School Foundation is an approved educational improvement organization and is qualified to receive donations from corporations for financial aid through the EITC program.
How does it work?
The Commonwealth of Pennsylvania awards businesses tax credits for making a contribution to approved organizations. Provident Charter School Foundation is the approved organization for Provident Charter School. Businesses can get a tax credit equal to 75% of their contribution up to $750,000 per taxable year. This can be increased to 90% if the business agrees to provide the same contribution for two consecutive years.
How do school students benefit?
Provident Charter School is a tuition-free, public school designed to educate students with language-based learning differences such as dyslexia. Donations from corporations will be used for innovative programs that benefit all students Company Law of 1921.
How can YOU help?
Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- 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
How to Apply
Work with your financial manager to determine if you are eligible and then contact:
DCED Center for Business Financing, Tax Credit Division, 4th Floor, Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120. Phone: (717) 787-7120 or RA-EITC@pa.gov.
Applications are approved on a first-come, first-served basis by the date received. Applications cannot be accepted before July 1 and tax credits are awarded on a first-come, first-served basis.
If you are a first-time applicant or a renewal applicant, we encourage you to fax your application to the PA Department of Community Economic Development at (717) 772-3581 or email RA-EITC@pa.gov.
For more information, go to PA DCED’s Educational Improvement Tax Credit Program (EITC) page.
You have 60 days to make your contribution to Provident Charter School Foundation after approval. The Provident Charter School Foundation will then submit proof of your contribution to you for submission to the Department of Economic Development. Proof must be provided to the DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter. Tax credits not used in the tax year the contribution was made may not be carried forward or carried back and are not refundable or transferable.