Education Improvement Tax Credit (EITC) Program
Pennsylvania businesses can now direct a portion of their state taxes to help fund the education of the students at Albert M Greenfield School. These businesses can receive a tax credit equal to 75% of their contribution – up to $300,000 per year. This tax credit increases to 90% if the business agrees to provide the same amount for two consecutive years.
For example:
A business decides to make a two-year commitment to Greenfield of $10,000 per year.
They write a check to Greenfield for $10,000. The business receives credit from the state that it paid $9,000 ($10,000 x 90%)
The only out-of-pocket cost to the business is $1,000 and this cost can be reduced by claiming the $1,000 as a charitable deduction.
This is an amazing opportunity for businesses to make a profound impact on their neighborhood public school with funds they would otherwise be paying to the state government.
Why Should a Business Apply?
As you know, Philadelphia public school budgets are under extreme pressure. The effect on Greenfield specifically has been an elimination of the Arts program – there is no longer any formal education of studio or performing arts at our school. In addition, foreign language instruction has been terminated for lack of funds to pay for teachers and supplies.
Finally, and just as important is the continuation of our Greening Greenfield program. Greening Greenfield not only offers students a rich opportunity to learn the important lessons of environmental responsibility but also gives the surrounding community a green open recreation space in the heart of the city.
Now more than ever, funds are truly needed to help sustain our children’s academic future.
How Does a Business Apply?
The Pennsylvania Educational Improvement Tax Credit (EITC) makes it possible in just a few easy steps.
Step 1: How Does a Business Apply to Participate
The application process is simple. It begins with a one-page application and submitted to the
Department of Community and Economic Development (DCED). The EITC Program Guidelines are
available by calling DCED at (717) 787-7120 or online here the application itself is on page 9 of that document.
Step 2: Letter of Approval
Business receives a letter of approval from the DCED.
Step 3: Business submits monetary contribution
Within 60 days of approval, businesses submit their monetary contribution to Greenfield Home &
School Association.
Step 4: Business submits acknowledgment to the DCED
After the business submits acknowledgment to the DCED, the DCED communicates with PA
Department of Revenue and the applicable tax credit is applied to business tax account.?Credit is
taken as a payment of taxes on the businesses’ annual tax return filing.
When Should a Business Apply?
For the next year, the application should be submitted on July 1, 2012 because the money is disbursed on a first-come, first-served basis.
Any Contribution is Appreciated
The parents, faculty and most importantly the children of Greenfield will appreciate any amount. Each gift has the potential directly impact the daily lives of every Greenfield student. For more information or help on finding, filling out or filing forms, please contact Melissa April at 267.255.0597 This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; or Caryn Abramowitz at This e-mail address is being protected from spambots. You need JavaScript enabled to view it 215.421.9338. Thank you in advance for your generous contribution.