Educational Improvement Tax Credit
What is EITC?
The Commonwealth of Pennsylvania enacted the Educational Improvement Tax Credit (EITC) program in 2001 in order to allow businesses to support education in Pennsylvania. Through the EITC program, certain businesses can make donations to a school’s EITC-registered scholarship fund and, in return, receive a credit against their Pennsylvania taxes that would otherwise be due.
Our Lady of Fatima is part of the Pittsburgh Diocese’s registered EITC fund: The Scholastic Opportunity Scholarship Program, Diocese of Pittsburgh.
Is your business eligible to participate in the EITC program?
A business is eligible to participate in the EITC program if the business pays one of the following Pennsylvania 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 Corp shareholders and Partnership partners in a general or limited partnership
How does your business apply to participate in the EITC Program?
A business applies to participate by completing a simple one-page application form (called Appendix 1-SO). The form must be completed electronically online through the Department of Community and Economic Development’s (DCED) website. Assistance is also available through our School Office by calling 724-375-7565. Click here to go to the website directly.
How does the EITC program work to benefit Our Lady of Fatima?
Please help us build and strengthen Our Lady of Fatima School and Parish Community by participating in the EITC program:
If a business donates money to Our Lady of Fatima through the EITC program, that money is used to provide financial aid to students who qualify through the Private School Aid Service (PSAS).