EITC Program

Tax Credit Opportunities for Businesses

The S.P.A.R.K.S. Foundation (SPARKS) has recently been approved for this fiscal year as an Educational Improvement Organization as defined by the Educational Improvement Tax Credit Program (EITC).  The State of Pennsylvania allows a tax credit equal to 75% of any amount contributed to SPARKS if the contribution is a one-year gift.  Businesses that make a two-year gift of the same amount receive a tax credit totaling 90%.  The following PA taxes are eligible for this program:

  • Corporate Net Income Tax
  • Title Insurance Company Shares Tax
  • Capital Stock Franchise Tax
  • Insurance Premiums Tax
  • Bank & Trust Company Shares Tax
  • Mutual Thrift Institutions Tax

Business Application Timeline

  • May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 14/15 to renew their 2-year commitment.
  • May 15 – Businesses who are in the middle of their 2-year commitment.
  • July 1 – All other businesses including Pre-K business applications.

The EITC program is a wonderful opportunity for area businesses to improve and enhance the educational opportunities of Pennsylvania students in the field of science by leveraging their gift through this generous tax credit program.  SPARKS utilizes these gifts to fund classroom visitation programs that bring inquiry-based hands-on science programs to schools which cannot afford to fund these programs due to recent PA budget cuts.

We at The S.P.A.R.K.S. Foundation thank you on behalf of all students for considering a contribution made via this tax credit program.  The generosity of our business community continues to serve as a tremendous asset in allowing us to meet our mission.
Pennsylvania’s Department of Community and Economic Development administers the EITC Program. The first step in getting a tax credit approved is done by filling out the application form and mailing it to Harrisburg.  Use this link to access EITC Guidelines for Businesses and the Business Application Guide. http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/educational-improvement-tax-credit-program-eitc  If your accounting department or CPA firm has any questions or requires help in completing this form, please let us know at once.