What is an Educational Improvement Organization?
A nonprofit organization must meet certain criteria and apply to be an approved EITC organization with an “innovative education program.” Presbyterian Children’s Village has applied for this status for its Residential Treatment Program that includes our accredited Village School for teens with special needs. How much tax credit? Tax credits equal to 75% of its contribution up to a maximum of $300,000 per taxable year; can be increased to 90% of the contribution, if business agrees to provide same amount for two consecutive tax years. For example, if you donated $10,000 to Presbyterian Children’s Village, you would receive a credit of $7,500 the first year (your net impact is $2,500). And if you pledged to provide this amount for two years, you would expect a tax credit of $9,000 each year against your Pennsylvania taxes (the Village gets $20,000; your net impact is $2,000). EXAMPLES: Contribution to The Village PA Tax Credits Actual Contribution 1 year commitment (75% tax credit) $10,0
