Businesses can receive credits for certain types of taxes paid to the state by making a contribution to the Scholarship Partners Foundation (SPF) of the Diocese of Greensburg.
The Commonwealth of Pennsylvania's Educational Improvement Tax Credit (EITC) program allows businesses to receive up to 90 percent of their contribution in tax credits. Businesses may also benefit by participating in the Pre-Kindergarten Tax Credit (PKTC) program.
Businesses may choose to designate their donation to a Catholic elementary school or diocesan high school.
SPF allocates the contributed funds as supplemental financial aid to children of qualified families who are enrolled in the 15 elementary schools, middle school and two high schools in the four-county diocesan region, including Armstrong, Fayette, Indiana and Westmoreland.
Scholarship Partners Foundation (SPF) - This foundation was established by the Diocese of Greensburg in order to take advantage of the Educational Improvement Tax Credit (EITC) program in the Commonwealth of Pennsylvania. It receives contributions from companies that
do business in Pennsylvania and pay certain state taxes in exchange for business tax credits.
Companies must apply for the tax credits and receive approval from the state's Department of Community and Economic Development. Several companies participating in the program have designated their donation be used for aid at a particular diocesan school. These gifts are used to benefit qualifying families at the local school level. State-mandated income guidelines determine eligibility for families to receive aid from SPF.
Educational Improvement Tax Credit (EITC)
By an overwhelming bipartisan majority, Pennsylvania made history by becoming the first state to pass an education tax credit aimed at corporations May 7, 2001.
House Bill 996, EITC, provides companies with a 75 percent tax credit for donations to a non-profit scholarship or educational improvement organization. The tax credit increases to 90 percent if the company commits to making the same donation(s) for two consecutive years.
Due to overwhelming demand and popularity, the legislature has increased the cap on the EITC program four times since its enactment in 2001 – with a current cap of $75 million.
Legislation in 2008 increased the cap per business to $300,000 and expanded the pool of eligible businesses.
Learn more about EITC here or contact us with questions.
Say Thank You
Have you received a financial aid award through the Scholarship Partners Foundation?
Choose to thank your local legislator for supporting and expanding the EITC program in Pennsylvania.