PA Educational Improvement Tax Credit Program (EITC)
"It's a no-brainer: give your money to Westtown rather than the government." -Robert Kratz, President of accounting firm Robert J. Kratz & Co., current parent, and EITC donor
"Most people don't know this is available, but it's as simple as telling your accountant to fill out a form. In fact, once you participate and see how simple it is, you have to wonder why other businesses don't participate." -Kristen Scandone Waterfield, President of Malvern Schools, current parent, and EITC donor
Where would you rather send your money – Harrisburg or Westtown?
The Commonwealth of Pennsylvania provides generous tax credits to eligible businesses (see below) who give financial aid gifts to Westtown School. Tax credits start at 75% of the donation amount for a one year contribution, and it increases to 90% for a two year contribution, but residual tax benefits can reduce the actual cost of the donation to virtually nothing! To date, Pennsylvania businesses have donated more than $800,000 to our financial aid program with gifts ranging from $750 to $75,000.
WHO: C-Corporations, S-Corporations, Single & Multi-Member LLCs, and LLPs all qualify
WHAT: Receive a tax credit in exchange for supporting financial aid for Pennsylvania children
WHY: 1) Receive credit toward PA taxes (75-90% credit against taxes owed, up to
$750,000 over two years)
2) A deduction against net income as a charitable donation
3) Helps Westtown provide more scholarship assistance
WHEN: Today! Simply go online and fill out a form to start the process.
HOW: Click here to download the complete application materials.
Please contact Nancy Turner, Director of Planned Giving at 610-399-7917 for more information. She can help guide you through the process or answer any questions.
FACTS ABOUT THE PROGRAM:
Any businesses authorized to do commerce in PA, who are subject to the following taxes, may be eligible to receive tax credit for gifts made to Westtown School, a “Scholarship Organization.”
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
- Personal income Tax of S Corp shareholders or Partnership partners
Instead of sending your tax dollars to Harrisburg, your business can support Westtown students!