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The Best Buy WOLF group provided our girls with a day of fun and technology!
Types of Corporate Gifts
Glade Run Foundation partners with Pittsburgh Cares and the United Way of Allegheny County to engage your business in Days of Caring volunteer projects. Day of Caring offers your business (large or small) the opportunity to spend a day at Glade Run and make a difference in the lives of the children and families we serve.
Our annual, seasonal events provide the opportunity for your business to be visible to more than 200 supporters of Glade Run Lutheran Services. It is also an opportunity to give back to a cause that helps vulnerable families and children across Western Pennsylvania.
Through Pennsylvania’s Educational Improvement Tax Credit (EITC) program, a qualified business can fund education rather than pay a percentage of its state taxes. To do this, the business makes a gift, through the EITC program, to an EITC-registered scholarship organization or an EITC-registered education improvement organization.* The state Department of Community and Economic Development (DCED) gives the business a tax credit equal to a percentage of the business’s contribution. DCED determines the eligibility of businesses, application procedures, application dedlines, and tax-credit limits.
* Glade Run is an EITC-registered educational improvement organization. An EITC gift to Glade Run provides innovative educational programming for students who attend St. Stephen’s Lutheran Academy
A company is eligible to participate in EITC if the company pays one of these six taxes:
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
- Personal Income Tax of S corporation shareholders or Partnership partners.
The Pennsylvania Department of Community and Economic Development determines the eligibility of businesses, scholarship organizations, and education improvement organizations.
How Does a Company Apply to Participate?
A company applies to participate by completing a one-page application form. The form is available by calling the Department of Community and Economic Development (DCED) at (717) 787-7120 or online from the EITC page of www.newpa.com. On the EITC page, find information and an application by clicking EITC Business Guidelines.
DCED determines the eligibility of businesses, scholarship organizations, and education improvement organizations.
When Should a Company Apply?
Whether your business is a new or renewing EITC applicant, be aware that the Department of Community and Economic Development (DCED) allocates credits on a first-come, first-served basis. Businesses first in line with their applications and allocation requests will be able to contribute to their chosen scholarship organization or educational program. When the tax credits dispensed equal the total credits allocated for the year, DCED can offer no additional credits and businesses cannot contribute through EITC during that year. First-time applicants. The first day you can apply depends on the fiscal year (FY) in which you would like your company to participate. Please call for further details
How Can My Company Benefit?
By participating in the EITC program, an organization accrues the public relations benefits that occur whenever a company supports a worthy cause in the area where it does business. By supporting an education organization in which employees have a special interest, an employer can gain the appreciation of the people who make the business work.
Financially, a company that agrees to contribute to the same organization for two consecutive years receives a tax credit equal to 90% of the contribution amount. A business that contributes through EITC to an EITC-registered organization in one year will receive a tax credit equal to 75% of the contribution.
What Kind of Contributions Do Businesses Make? What Credits Do They Earn?
Suppose you are the chief financial officer of a business and you have decided to contribute through EITC to a specific organization. Your goal is to give as much as you can to the organization and to earn the maximum tax credit for your business. From this perspective, the question “What is the maximum contribution?” is better phrased as “What is the maximum tax credit?” In all cases the largest tax credit a business can earn is $200,000.
The Department of Economic and Community Development calculates the tax credit based on the length of the business’s commitment to the same organization.
- The tax credit received for a one-year commitment. A business that commits to earning the maximum tax credit in one year receives a tax credit equal to 75% of the amount contributed with a maximum allowable credit of $300,000.
- The tax credit received for a two-year commitment. A business that commits to earning the maximum tax credit by contributing to the same organization for two consecutive years receives a tax credit equal to 90% of the amount contributed- not to exceed the maximum allowable credit of $300,000.
From the point of view of a scholarship or educational improvement organization, a contribution of any amount is welcome. A large corporation may be able to contribute an amount that results in the maximum tax credit. A small business may contribute far less but the contribution may be a source of great pride for the business owner and employees. Each gift, no matter the size, helps a student to receive the education he or she needs to reach personal potential and take a fulfilling, rewarding place in society.
(724) 452.4453, ext. 1244
(724) 452.4453, ext. 1108
Glade Run Foundation
c/o Glade Run Lutheran Services
PO Box 70, Beaver Road
Zelienople, PA 16063
(724) 452.4453, ext. 1108