2016-2017 PA EITC Partners in Giving
UPMC Health Plan
If you like to learn more about UAP Scholarship Program and about how to donate through EITC, please check out the presentation slides here.
Frequently Asked Questions
What is the amount of tax credit that my business will receive?
The Educational Improvement Tax Credit (EITC) program provides businesses that pay PA taxes with a tax credit for their donations to nonprofit Scholarship Organizations such as the Universal Academy of Pittsburgh (UAP).
A one-time donation for K-12 students can earn a 75% tax credit for a 1 year commitment. If the business commits to donate the same amount for two years, it will earn 90% state tax credit. A one-time donation for Pre-K scholarship organization can result in a 100% tax credit for the first $10,000; and a 90% tax credit for the rest up to $100,000.
Can a business receiving the state tax credit through EITC program still claim charitable deduction on its federal tax returns?
Yes. A business that receives a state tax credit through the EITC program may still claim a charitable deduction for its donation on federal tax returns. Note that charitable deductions on federal tax returns are in addition to the EITC tax credit that a business will receive against its state tax liability.
Will my business receive the tax credit for the taxable year in which my business made the contribution?
Yes. Credit awarded within the program may be applied against the business firm’s tax liability for use in the taxable year in which the contribution is made.
Is there a benefit for my business by utilizing the EITC Tax Credit Program?
This program allows your business to direct some of your tax dollars into a specific use such as the quality education for children at UAP. These are tax dollars that your business would already be paying to the state of Pennsylvania.
How does the UAP benefit from this program?
Your donation plays a crucial role to allow all students the opportunity to attend the UAP regardless of their ability to pay.
When should I apply to donate through EITC Program?
Any PA business can apply for EITC tax credit starting July 3rd, 2017.
Can I donate directly to a student?
No, you cannot designate your donation to a specific student.
Useful Links and Documents about EITC