EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC)

Since 2001, Pennsylvania’s Educational Improvement Tax Credit (EITC) program has allowed businesses and individuals to lower their tax bills by donating to private schools, scholarship organizations, Pre-K programs, and other educational enrichment initiatives. The EITC tax credits were created by the legislature for the purpose of providing tuition assistance in the form of scholarships for eligible students.

The Educational Improvement Tax Credit (EITC) – Special Purpose Entity (SPE) program provides individuals with a 75% tax credit for donations to a nonprofit scholarship or educational improvement organization. The tax credit increases to 90% if the individual commits to making the same donation(s) for two consecutive years. The EITCSPE program is administered by the Department of Community and Economic Development (DCED) on a first-come, first-served basis.

At Sewickley Academy, contributions from this program are used for the financial aid program and distributed to families who apply and qualify for need-based assistance.