Empowering Education Through EITC Contributions
January 10, 2024Friends of Education Welcomes Brooke Mattingly as Development Director
October 1, 2024
Use EITC Dollars to Make Pennsylvania a Better Place – Credits Available
Deadline June 17, 2024
In 2023, Friends of Education and its affiliates raised over $10.6 million in Educational Improvement Tax Credit (“EITC”) gifts including $6.1 million to 82 approved Educational Improvement Organizations (“EIOs”).
Secure your credits now! They must be utilized by June 17th, 2024, and are assigned on a first-come, first-served basis. Don’t miss out!
Here is what you need to know:
Why check into this? You work for an approved educational improvement organization and your organization is eligible to receive highly leveraged EITC donations.
Who does Friends of Education work with? We work with approved EIOs like your organization.
What does Friends of Education do? We streamline EITC giving for individuals and businesses by creating special purpose entities. Individuals and businesses cannot make EITC gifts unless they have EITC tax credits which are awarded by the State. Under Pennsylvania law, individuals cannot obtain credits directly but must make gifts through a special purpose entity. Businesses which don’t have credits may also join a special purpose entity. Friends of Education has EITC credits available. We manage special purpose entities for EIOs. Your organization does not need to apply to the State for credits, we have everything that your donors need in place.
When do donors need to enroll? Credits are available on a first-come, first-served basis.
Where do I learn more information? Our two-page flyer can be found here. Donors who want to schedule a call, should click on this link.
How does a donor enroll? Contact us at info@pataxcredits.org.
The EITC program gives donors a 90% state income tax credit (not a deduction) for gifts made in the program. This means that donors will receive 90% of their gift back from the State in the form of a reduction of their 2024 state income tax liability. This is a great opportunity to encourage donors to redirect their state tax dollars from Harrisburg to your organization.
