EITC Credits Still Available Spring 2023
Friends of Education Distributed over 4.8 Million in Charitable Gifts in 2022
January 25, 2023
Support your favorite Educational Improvement Organization – EITC Credits Still Available
Friends of Education’s Special Purpose Entity is looking for donors including individuals who want to make EITC-qualified gifts this spring. We anticipate distributing funds before June 30, 2023.
This Special Purpose Entity is accepting gifts from businesses and individuals. The tax benefits are straightforward – it costs a dime to give a dollar. Some donors may realize additional tax benefits.
Charitable Deduction | EITC-qualified gift | |
Contribution | $10,000 | $10,000 |
Federal Charitable Contribution Deduction (Assumes 25% rate) | $2,500 | $250 |
State Tax Credit | $0 | $9,000 |
Out of pocket | $7,500 | $750 |
Now is a great time to use the EITC program to support your organization’s education goals. Here is an overview of the program. For a printable version of the flyer, click here.
Email Todd Unger at todd.unger@pataxcredits.org or Jed Silversmith at jed.silversmith@paxtaxcredits.org with questions
