Partners Tax Credit

EITC Program – REF is an approved Educational Improvement Organization (EIO) and business contributors may be eligible to receive the Educational Improvement Tax Credit. Pennsylvania companies that commit to donating one year receive a 75% tax credit and for two years receive a 90% tax credit. Eligible companies may take up to $750,000 in tax credits for fiscal year 2014-15.

Corporations who qualify pay one or all of the following taxes:

  • Corporate net income tax
  • Capital stock franchise tax
  • Bank and trust company share tax
  • Title insurance company share tax
  • Insurance premiums tax
  • Mutual thrift institutions tax
  • Personal Income Tax of an S Corporation Shareholders of Partners in an LL/LLP

Sub Chapter S corps, limited partnerships and other pass through organizations are eligible. (filing PA forms 20S or 65).

Business Application Deadlines

  • May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 13/14 to renew their 2-year commitment
  • May 15 – Businesses who are in the middle of their 2-year commitment
  • July 1 – All other businesses ( C-Corps, S- Corps) and new businesses may apply APPLICATIONS MUST BE SUBMITTED ELECTRONICALLY. Paper applications are no longer accepted.

By donating to REF through the EITC program, companies in the community support public education and ensure that Radnor remains a premiere community in Pennsylvania. Programs supported with EITC funding include new theater equipment and technology upgrades to the RHS auditorium and black box theater, Radnor TV upgrades, environmental education, STEM education and more.

Interested in being part of  the EITC program and supporting public education? Contact info@radnoreducationalfoundation.org  for more information and see the information below.

EITC PARTNERS:
Bryn Mawr Trust Company, Giant Foods, Inc., Republic Bank, Harmelin Media, Braithwaite Communications, Penn Liberty Bank, Spring City Electrical Manufacturing Company, M & T Bank