On January 19, 2023, Friends of Education presented a webinar about Pennsylvania’s Educational Improvement Tax Credit (“EITC”) program. The webinar focused on how individuals could direct EITC gifts to Educational Improvement Organizations (“EIOs”).
An EIO is an organization that provides an academic or similar program that is not part of the regular academic program of a public school. The program enhances the curriculum or academic program of public-school children. To qualify as an EIO, the organization must have received a tax exemption from the IRS under Section 501(c)(3) of the Internal Revenue Code. They must also separately register with the Department of Community and Economic Development (“DCED”). There are currently 900 EIOs registered with DCED.
DCED awarded EITC tax credits for EIOs to a special purpose entity of Friends of Education. Special purpose entities are the vehicles by which individuals can participate in the EITC program. There are presently about $820,000 in credits available, which can be accessed by Pennsylvania taxpayers. The webinar explains the nuts and bolts of the EITC program. The webinar is directed to development officers of EIOs, as well as prospective donors who wish to participate in the EITC program.
For a copy of the PowerPoint, click here.
To watch the webinar, click here.
Friends of Education is here to help you redirect your state tax dollars to the institution of your choice. If you wish to make a gift in 2023 and 2024 to an EIO, please contact us at firstname.lastname@example.org.