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Educational Improvement Tax Credit

2010-2011 PA EITC Corporate Partners in Giving

A heartfelt thank you to the following companies for their scholarship contributions to Falk Laboratory School via the PA EITC program:

Highmark Casualty Insurance

UPMC Health Plan

FCC Asset Management, Inc.

Town Development, Inc.

What is the PA EITC Program? 

The Falk Laboratory School is a scholarship organization under the PA Educational Improvement Tax Credit program, which means approved companies can receive tax credits for donations to Falk Laboratory School at the University of Pittsburgh.

  • Tax credits are equal to 75% of the contribution up to a maximum of $300,000 per taxable year.
  • Tax credits can be increased to 90% of the contribution, if the business agrees to provide the same amount for two consecutive tax years.

Eligibility

Entities authorized to do business in Pennsylvania and are subject to one or more of the following taxes:

  • Corporate Net Income TaxCapital 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 Corporation Shareholders or partners in a general or limited partnership.

“The EITC really works for schools and companies.  FCC Assets Management, Inc. has been involved as a contributor to the PA EITC program almost since its inception approximately eight years ago.  We apply each year for an allocation and plan to do so next year as well. Assuming another allocation, we would like nothing better than to be able to give to Falk.”                 

       --Terry Lerman, Owner, FCC Asset Management, Inc.

“UPMC Health Plan is proud as an organization to help Falk achieve its mission of educating the youth in our community and providing scholarships.   A consistent goal of UPMC health Plan is to improve the health of the communities we serve.  Part of a healthy community is healthy, active, well-educated youth, leading us to support such scholarship programs.”

       --Maris Bondi, Senior Project Manager

For more information, please contact Michael Haas at 412-648-1789 or by email at mbh26@pitt.edu

For Business Guidelines and Application (due on or after July 1, 2011), visit the Department of Community and Economic Development's website at www.newpa.com/EITC.