EITC Tax Credit

Put your tax credits to good use! 

You can make a difference in young lives!

Your company + Water Street!

REDUCE YOUR BUSINESS TAX

Instead of paying your company taxes to the state of Pennsylvania, your monies could be designated to help families in poverty send their children to the Pre-K and Kindergarten of their choice.

EITC PRE-K TAX CREDIT (PKSO)

This option provides the greatest benefit to your business. 100% tax credit for the first $10,000 your business donates to provide scholarships for children in our pre-K programs (90% credit for every dollar beyond $10,000 up to $150,000).

EITC TAX CREDIT (SO)

75% tax credit for up to $300,000 donation to provide scholarships for children in our kindergarten class (if you make a 2-year commitment, the credit goes up to 90%). These donations also help provide scholarships for Wonder Club alumni to attend other Christian private schools. Wonder Club Early Learning Center is a ministry of Water Street Mission (Our official EITC identify is “Water Street Ministries”).

STEPS TO APPLY

1. Submit Your Application Online to the DCED beginning July 1
(Applicants for 2nd year commitments or having just completed year 2 may apply beginning May 15th. To receive preferred status – ahead of new applicants – please submit application by June 30.) All applications are processed on a first-come-first-served basis until available tax credits are exhausted.

Applications are submitted online through the “single application for assistance.”

 

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Another Way to Make the Most of the Available Tax Credits is to Learn about Pennsylvania's Special Purpose Entity (SPE) Program!

Ask your financial advisor or accountant, or visit the Central PA Scholarship Fund, to learn about Special Purpose Entities (SPE) which allow you individually to receive Pennsylvania EITC tax credits up to your individual joint liability. 

Your investment funds pass through the SPE to Central Pennsylvania Scholarship Fund, for example, where they all go out to the school of your choice (Wonder Club Early Learning Center is Water Street Mission’s school) in a scholarship under the EITC rules. 100% of your funds are issued as scholarships to Wonder Club. 

You can preorder tax credits at any time and your investment is not due until the SPE award letter arrives. Investment must be made within 60 days of the award letter date so the SPE can claim the tax credits for you. 

The tax credits are passed through to you on an individual federal and Pennsylvania K-1 tax form each February to go with your individual PA 40 tax form and claim your Pennsylvania tax refund. The federal K-1 form lists your federal donation deduction for your individual tax return.

 

“Everything begins with love. The godly love [of the staff] opens the kids up to God’s love.”
Tonya, Wonder Club Parent

2020-2021 EITC – SO K-12 Donors

  • Agri-Basics, Inc.
  • Bryn Mawr Trust
  • Capital BlueCross
  • Concept Excavating
  • D. H. Funk & Sons, LLC
  • Donegal Mutual Insurance Co.
  • Eastern Alliance Insurance Co.
  • Ephrata National Bank
  • Fulton Bank
  • Garman Builders (Garman Assets)
  • Gibbel Kraybill & Hess
  • Lancaster Leaf Tobacco Company of PA
  • M&T Bank (M&T Charitable Foundation)
  • Mid Penn Bank
  • Premier Custom-Built Cabinetry
  • Rohrer Dairy Farm
  • Sharp Properties Limited Partnership
  • Simon Lever
  • Stoltzfus Meats, Inc.
  • Univest
  • UPMC Health Plan

2020-2021 EITC PRE-K Donors:

  • Bryn Mawr Trust
  • Capital BlueCross
  • Clark Fire Protection
  • Lancaster County Vacuflo, LLC
  • Orrstown Bank
  • PeoplesBank
  • Randal V. Kline, Inc.
  • Rodgers & Associates
  • Smucker Company
  • UGI Utilities, Inc.
  • Weis Markets

Special Purpose Entities (SPE) Partners: KSO & Pre-K Donors

  • ACSI (Children’s Tuition Fund) for: Ebersole Excavating, Inc., TEG Scholarship Partners, LLC, Lancaster County Scholarship)
  • Everence Foundation
  • Faith Builders (for Furnace Hills Poultry)

Let's get started!

Here's how you can begin

Download the application PDF below to see the details – and get started online registering your company.

 

 

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Questions? Just ask!

Sandy Gambone
Business Ambassador
(717) 358-2032
sgambone@wsm.org