The Isaac Newton Foundation on behalf of MaST Community Charter School has been approved as an educational improvement organization due to our “innovative educational programs” entailing Guest Speakers and iPod/iPad Technology in our instruction.
What is an Education Improvement Tax Credit (EITC)?
Enacted in 2001, the Educational Improvement Tax Credit provides a tax credit to businesses that pay Pennsylvania’s corporate income tax for contributions to innovative educational programs.
The EITC program enables a Pennsylvania business to direct up to $300,000 of its Pennsylvania state tax dollars directly to The Isaac Newton Foundation for MaST Community Charter School’s educational program namely to the above areas of acquiring guest speakers to enhance lessons and for the use of iPod/iPad technology based instruction. Funding through the EITC program may not be used for scholarships. Tax credits are given for 75 percent of a one-year gift and 90 percent of gifts given in two consecutive years. Checks should be made payable to The Isaac Newton Foundation.
Who can make a gift?
Any eligible corporation may make a gift. If a corporation pays any of the following corporate taxes to the Commonwealth of Pennsylvania, the EITC program allows it to make a gift to MaST Charter through The Isaac Newton Foundation instead:
- Corporate Net Income
- Tax Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
Advantages to Participating:
• 75% tax credit for a one year contribution
• 90% tax credit for two consecutive year contributions
• Contributions are helping our K-12 students
• Contributions are also eligible for a federal charitable deduction
How to apply?
Click this link to begin working on your application.
Education Improvement Tax Credit Application
Who can I ask questions to about the EITC program?
Mr. John Swoyer, CEO, of MaST Community Charter School would be happy to answer any questions regarding the EITC and how you can make it work for you and the school. Please feel free to contact him via email at email@example.com.