Pennsylvania Educational Improvement Tax Credit (EITC)
EITC is a state-operated program in which tax credits are awarded to eligible businesses that make a contribution to an approved Scholarship Organization. These funds are then distributed in the form of scholarships to income-qualifying students.
New Holland Early Learning Center Scholarship Organization is Everence Foundation (We are listed under Everence Foundation).
Designate Tax Credit dollars paid to the Everence Foundation to be designated for the New Holland Early Learning Center.
How do I know if my business is eligible?
Any business authorized to do business in the Commonwealth of PA and pays any of the following taxes is eligible.*
Personal income tax of S-corp shareholders or partnership partners
Corporate net income tax
Capital stock/foreign franchise tax
Bank shares tax
Title insurance & trust company shares tax
Insurance premiums tax (excluding surplus lines, unauthorized, domestic/foreign marine)
Mutual thrift tax
Malt beverage tax
Retaliatory fees under section 212 of the insurance company law of 1921
* Such business firms include pass-through entities and special purpose pass-through entities.
How much tax credit may my business receive through the tax credit contribution?
Pre-K: A business may receive a tax credit of 100% for the first $10,000 contributed to a Pre-K scholarship organization during the taxable year and may receive a tax credit of 90% of any additional amount contributed during the taxable year up to a maximum of $200,000 per taxable year.
Business Application Timeline
May 15: Business applicants who have fulfilled their 2-year commitment and wish to reapply.
July 1: All other businesses including initial applicants wishing to submit an additional application on top of their previously submitted
Five easy steps
Confirm with your accountant that your business is eligible to participate.
Contact Nikki Shingle, Director of Charitable Relations, at Everence Foundation for additional information.
(The Everence Foundation is a state approved
scholarship organization that serves the New
Holland Early Learning Center. Designate all or some of the tax credit dollars paid to the
Everence Foundation to be designated for the
New Holland Early Learning Center.)
Applications must be submitted online, using the DCED’s single application for assistance.
Once approved, your business has 60 days to submit your contribution to Everence Foundation, an approved scholarship organization. Please make checks payable to Everence Foundation and mail to:
Attention: Nikki Shingle
960 E. Main St.
Mount Joy, PA 17552
Upon receiving your contribution, the Foundation will provide a receipt letter which should then be submitted to DCED in order to receive your tax credits.