Did you know that in Pennsylvania companies can give to Covenant Christian Academy–at no cost? It’s true.
Qualifying businesses can direct up to 90% of their state tax liability to Covenant Christian Academy through the PA Educational Improvement Tax Credit (EITC) program. Businesses can commit for one or two years. If businesses commit to giving for two years, the tax credit is virtually 100% because business can also claim a charitable gift deduction. Imagine directing the money you normally pay in taxes to a scholarship fund supporting students and families at CCA!
What’s more, the process of applying to give via the EITC is easy, requiring just a few steps and a quick, online application. See the questions below for more information and for the three-step application process.
FREQUENTLY ASKED QUESTIONS ABOUT THE EITC PROGRAM
Q: What businesses qualify for Pennsylvania’s Educational Improvement Tax Credit?
The Commonwealth of Pennsylvania identifies qualified corporations
according the types of taxes they must pay. A corporation that pays
corporate net income tax, capital stock/foreign franchise tax, bank and
trust company shares tax, title insurance companies shares tax,
insurance premiums tax or mutual thrift institutions tax all qualify. A
quick call to the accounting department is all it takes to determine if
a corporation pays these taxes.
Q: Must I be an owner to consider the Educational Improvement Tax Credit?
A: No. If you are an employee or valued customer of a particular business that might qualify, please speak to Natalie Martin in the Covenant Christian Academy Development Office. Natalie will work with you to determine how to best inform the business of this unique opportunity. You may call Natalie at 717-540-9885 (x232), or email her at [email protected].
Q: What does Covenant Christian Academy need to do to receive this support?
The steps to apply are very simple. An executive (often the
accountant) with an interested company will first ensure that the
company is eligible, then fill out a simple, brief online application
(by July 1). The application is reviewed and possibly approved by the
Department of Community and Economic Development (DCED). The DCED will
notify the company regarding their approval. After receiving approval,
a company has 60 days to forward their tax credit money (money that
would normally be given to the state as taxes!) to the Family Choice
Scholarship Program (FCSP). The FCSP is the state-approved scholarship
organization that works with and supports CCA. The FCSP will in turn
write a check to Covenant!
Q: Where can I learn more about the Educational Improvement Tax Credit Program?
A: Please click here to visit the PA state description of the EITC program.
APPLY RIGHT NOW ONLINE–IT IS VERY EASY (Deadline for Business Applications is July 1).
just three steps you can apply to have your business to give money to
Covenant through the EITC program. The online application is very
brief–the equivalent of a one page application!
- First, download these guidelines for applying (a brief PDF): Guidelines for Business Application to EITC
- Second, apply online here:Single Application for The EITC Program
- Please designate the scholarship organization that you wish to give to as the Family Choice Scholarship Program (operated by the PA Family Institute) and Covenant Christian Academy as the designated school you wish to support.