TRANSFORMING LIVES
Your company can transform the lives of future Sem graduates through the Educational Improvement Tax Credit (EITC) program. By making a contribution to Sem’s scholarship fund through EITC, your company can receive Pa. State tax credit equal to 75 percent of your contribution. If your company commits to the program for two consecutive years, the credit will be 90 percent of your contribution.
HOW IT WORKS
• More than $75 million is available on a first-comefirst-served basis for contributions to scholarship organizations like Wyoming Seminary.
• Companies in Pennsylvania that pay any of the following taxes qualify to participate:
- Corporate Net Income Tax
- Capital Stock Franchises Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Insurance Premium Tax
• Information regarding application deadlines can be found here.*
FAQs
What is the Educational Improvement Tax Credit (EITC) Program?
The EITC Program enables companies to support nonprofit schools at minimal cost. Instead of sending tax dollars to Harrisburg, companies can reallocate them to support Wyoming Seminary’s financial aid program.
Who may make EITC gifts?
You might be surprised. Businesses ranging from neighborhood pharmacies, to mid-sized companies, to large corporations all are eligible. This includes the following type of businesses:
• C-Corporations (taxed at the corporate level)
• S-Corporations
• Partnerships
• Sole Proprietors
• Limited Liability Companies (LLC’s)
• Subchapter S corporations and other businesses that pay their State business taxes under the personal income tax on PA business income
How much of a business’ tax liability can be donated to Wyoming Seminary through EITC
Businesses can receive a tax credit equal to 75% of a contribution up to $750,000 per year. The credit increases to 90% if the business agrees to provide the same amount for two years.
Can Sem help me apply?
Yes. We will work with you. We want to make the process as simple as possible. Contact the Development Office at (570) 270-2140.
THANKS TO OUR PARTICIPANTS
• Almo Corporation
• Benco Dental Company
• Carr & Duff, Inc.
• Community Bank
• Cornell Iron Works
• Crestwood Membranes, Inc.
• Fidelity Deposit and Discount Bank
• First Keystone Community Bank
• First National Bank of Pennsylvania
• First National Community Bank
• Frontier Communications
• KNBT Bank
• Koberlein Environmental Service
• Lackawanna Casualty Company
• Luzerne Bank
• Martz Group
• Masonry Preservation Services, Inc.
• Medico Industries
• Metz Culinary Management
• National Penn Bank
• Penn Security Bank
• Petroleum Service Company
• PNC Bank
• Pride Mobility Products Corps.
• Snyder & Clemente
• Sordoni Construction Services
• Straub Metal International
• Topp Copy
