Educational Improvement Tax Credit Program (EITC)
Did you know that PA businesses can
qualify for a tax credit by donating to the
IVPL? It’s true!
The Educational Improvement Tax Credit Program (EITC) grants a tax credit equal to 75% of a business’s qualifying contribution which can be taken against tax due in the year the contribution is made. If a business makes a matching donation in the following year, the tax credit can be as much as 90% of the qualifying contribution.
Participating in the EITC program is a great way to lower your business’s tax liability while helping IVPL honor its commitment to offering outstanding K-12 educational programs, including Summer Learning and STEM (Science, Technology, Engineering and Math) programs.
If you are interested in donating to the Indian Valley Public Library through the EITC program, please follow these steps:
Contact your tax professional to ensure that you qualify for the EITC program.
Notify the library’s contact person, Nick Hagdorn (firstname.lastname@example.org) of your pending contribution commitment.
Once your eligibility is confirmed, go here to create an account and apply. The deadline for new applicants is July 1st. EITC funds are awarded on a first-come, first-served basis. Please have your completed application ready to go when applications are accepted on July 1st.
Once you have created an account, be sure to choose IVPL from the program finder. If you require assistance, a guide for the application process can be found here.
Once you have applied, let the library know. The library will send you a letter confirming the details of your contribution commitment.
You will be required to provide detailed tax-related information for the application. Samples from the EITC application can be seen below, so that you may be adequately prepared. Click on the images for a closer look.
If you would like further explanation about what the EITC program is and how making your charitable donations through it can benefit your business, this video from McKonly & Asbury is a nicely detailed explanation of it.
Benefits of Becoming a Corporate Partner Through EITC Include:
Advertisements on the IVPL Website
Annual Corporate Partner Briefing
Opportunity to use the Library Space for Corporate Events
Thank You to our Current Indian Valley Public Library Corporate Partners!