The Community Foundation of Greene County (CFGC) has received a $50,000 contribution from First Federal Savings and Loan Association of Greene County. to be used to support the CFGC Educational Improvement Tax Credit Program (EITC) Pre-Kindergarten Scholarship Fund which provides scholarship assistance for Greene County children attending approved pre-kindergarten programs.
“We are elated to be able to provide this support that will help Greene County children get a good start to education,” said Judi Goodwin Tanner, President and Chief Executive Officer of First Federal Savings and Loan Association.
The EITC Pre-K Scholarship program provides children and families with an opportunity to participate in a quality Pre-K program which gives children a good start toward being successful in school and beyond. Families may apply for a scholarship, which is paid directly to an approved Pre-K provider, to help offset tuition and fees for the child.
According to Bettie Stammerjohn, executive director of CFGC, this scholarship opportunity will help offset the tuition cost for the family and make Pre-K programs more affordable, even for middle income families. CFGC provided scholarships to more than 50 Greene County children attending ten preschool programs during 2016/2017.
“It is wonderful that First Federal of Greene County has chosen to support the EITC Pre-K effort in our community. The whole community eventually shares in the benefits of making pre-kindergarten available to its young children and families,” remarked Dr. Morris Harper, chairman of the CFGC Board of Directors. “This contribution will go a long way toward ensuring that we will be able to provide scholarships for eligible families during the 2017-2018 school year.”
Through the state’s EITC Pre-K program, a business may receive a tax credit equal to 100% of the first $10,000 contributed to a Pre-K Scholarship Organization during the taxable year, and may receive a tax credit equal to 90% of any additional amount contributed during the taxable year, up to a maximum of $200,000 per taxable year. Additionally, the EITC allows contributions to a K-12 Scholarship program and a Public School Innovative Curriculum program. Contributions to these programs may receive a tax credit equal to 90% of up to $750,000 annually, if the business commits to a two-year gift, or 75% tax credit for a single year gift.
Businesses authorized to do business in PA and who are subject to one or more of the following taxes may apply for tax credits through PA DCED: Personal Income Tax, Corporate Net Income Tax, Bank Shares Tax, Title Insurance & Trust Company Shares Tax, Insurance Premiums Tax, Mutual Thrift Tax, Malt Beverage Tax and Retaliatory Fess under section 212 of the Insurance Company Law of 1921.
Business Tax Credit Applications are available on the PA DCED website at http://dced.pa.gov/programs/educational-improvement-tax-credit-program-eitc/. Or contact Bettie Stammerjohn at the Community Foundation of Greene County at 724.627.2010 for further details.
To receive an EITC Pre-K scholarship, a child must be 3 to 6 years old and attending an approved Pre-K program in Pennsylvania. Household income must not exceed $77,648 with an additional $15,530 allowed for each dependent child. Applications must be submitted to CFGB by August 20th. For more information on how to apply for an EITC Pre-K Scholarship, or how to become an approved Pre-K provider, call the Community Foundation at 724-627-2010, or email us at email@example.com or go to our website at http://www.cfgcpa.org/pre-kindergarten-scholarships/