More students in the region will be able to further their education through dual enrollment and participate in technology-focused learning opportunities like robotics, thanks to a $10,000 donation from 1st Summit Bank.
1st Summit Bank provided the support for local school districts through a unique tax-credit program: Pennsylvania’s Educational Improvement Tax Credit, or EITC.
EITC was created by the Department of Community and Economic Development to help businesses keep their tax dollars closer to home. It provides hundreds of thousands of dollars in tax credits to companies that donate to local programs that provide educational opportunities that are not included in a district’s curriculum. Businesses can write off up to 90 percent of their donation, which allows them to invest in education with a near-net-zero output.
The Community Foundation for the Alleghenies is approved by the state to process these transactions, which means the Foundation can help businesses spend their money in a way that’s meaningful and cost efficient.
If your business or school is interested in participating in this program, contact Donor and Development Services Officer Katrina Perkosky at firstname.lastname@example.org.