Put your Pennsylvania tax credits to good use and make a lasting impact on young lives!
The Pennsylvania Educational Improvement Tax Credit (EITC) program allows businesses and eligible individuals to receive state tax credits in exchange for donations to approved educational organizations. Water Street Mission’s Wonder Academy is one of these organizations, offering a Christ-centered Pre-K and Kindergarten education to students in our community from low-income families.
For businesses making smaller contributions, the Pre-Kindergarten Scholarship Organization (PKSO) program offers a greater benefit — a 100% tax credit on the first $10,000 contributed. Any additional amount (up to a total of $200,000 per tax year) qualifies for a 90% tax credit.
For businesses with the capacity to contribute more, the Scholarship Organization (SO) program offers a 75% tax credit, or 90% with a two-year commitment, up to $750,000 per tax year.
Businesses interested in participating in the EITC program must submit an online application through the Pennsylvania Department of Community & Economic Development (DCED) website.
Important Dates:
Applications are approved on a first-come, first-served basis
A Special Purpose Entity (SPE) is a type of legal partnership created to participate in Pennsylvania’s EITC program on behalf of its members. The SPE does all the work of applying for tax credits directly from the state, making it a simple and efficient way for businesses to support approved scholarship organizations like Wonder Academy.
Businesses and individuals can join an SPE by signing a simple joinder agreement and contributing to an approved scholarship organization of their choice. Typically, SPEs require a two-year donation commitment to qualify for the full 90% tax credit. Once joined, the SPE handles all tax credit applications and reporting, simplifying the process. Minimum contribution amounts may apply.
Wonder Academy currently receives contributions through the following SPEs: Central PA Scholarship Fund, Children’s Tuition Fund, Common Wealth Charitable Management, Everence Foundation, Faith Builders, BLOCS, and Penngift Foundation. For more information about SPEs, we recommend consulting your financial advisor or accountant.
Download application instructions below and get started by registering your company.
