Penn College Foundation Approved for EITC Program
Published 10.14.2011
The Pennsylvania College of Technology Foundation has been approved as an Educational Improvement Organization under the Educational Improvement Tax Credit Program administered by the state Department of Community and Economic Development.
The designation allows businesses to make contributions to the foundation to support two programs at Penn College deemed to be "innovative educational programs" under the law (SMART Girls and Penn College NOW) and to be considered for Educational Improvement Tax Credits from the state. Both programs are managed by Outreach for K-12 at Penn College.
SMART (Science and Math Applications in Real-world Technologies) Girls addresses the academic and social trend of girls shying away from math and sciences as they enter high school by giving girls in grades 7 to 11 the opportunity to experience math and science as a foundation for careers in technology.
Penn College NOW enables high school students to earn college credits through dual-enrollment courses taught by approved high school teachers at the students' home high schools or career and technology centers. Statewide, 24 schools participate in Penn College NOW.
Debra M. Miller, director of corporate relations at Penn College, said a business can apply through DCED for up to $300,000 per year to support approved organizations. The business will receive a tax credit equal to 75 percent of the contribution, with the credit increasing to 90 percent if the business agrees to provide the same amount for two consecutive years.
As an approved Educational Improvement Organization, the Penn College Foundation must spend a minimum of 80 percent of any contributions for the two approved programs within the fiscal year that the gift is received or encumber the funds for use the following year. The foundation must also report to DCED regarding how the money was used.
Penn College is a special mission affiliate of The Pennsylvania State University committed to applied technology education. For more information, visit online , email or call toll-free 800-367-9222.
For more information about making a gift to support Penn College and its students, visit on the Web , call the Institutional Advancement Office toll-free at 866-GIVE-2-PC or email .