EDUCATIONAL IMPROVEMENT TAX CREDIT PROGRAM: $85,750 IN GRANTS FROM BUSINESSES THIS SCHOOL YEAR

 

May 7, 2019, Allentown, PA – Serving the school children of the 3rd largest urban school district in the Commonwealth, Allentown School District Foundation (ASDF) Board of Directors wishes to thank eleven area businesses that have designated $85,750 in EITC tax credit funds to the Foundation (so far) this year.

Company EITC Amount
American Bank $2,000
BB&T $17,500
Capital Blue Cross/Avalon $15,000
Embassy Bank $15,000
Lafayette Ambassador Bank $5,000
Morey Nee Buck & Oswald $750
PPL Corporation $6,000
UGI Utilities $5,000
Univest $15,000
Vistacom $3,000
Weis Markets $1,500
TOTAL $85,750

Pennsylvania’s Educational Improvement Tax Credit (EITC) Program authorizes tax credits for businesses that make contributions to Educational Improvement Organizations (EIO) such as the ASD Foundation. Administered by the Pennsylvania Department of Community and Economic Development (DCED), the EITC program enables companies to support nonprofit school foundations at virtually no cost. Instead of sending tax dollars to Harrisburg, companies can reallocate those funds to support the Allentown school children programs via the Allentown School District Foundation, applying for up to $750,000 in aggregate every year.

“We are pleased that area companies are recognizing the value of the ASD Foundation programs we deliver, adding enrichment to the educational experience for our school children,” says Kurt D. Zwikl, ASDF president. “The ASD Foundation functions in order for organizations to support tax deductible gifts for educational opportunities that make a difference for Allentown students. We augment funding for programs in science, music, literacy, teacher innovation, fine arts, scholarships with career and college focus, and select athletics programs.”

Established as a separate 501(c)(3) in 2009, the Allentown School District Foundation and its partners have raised more than $3.0 million to fund ASDF programs and support important initiatives. In 2017-2018, there were 8,958 participants in ASD Foundation programs, the most ever served in a variety of K-12 programs and that are poised for continued growth.

At the end of every EITC funding cycle, DCED requires EIO’s such as the ASD Foundation to submit a Performance Monitoring Report to the state, detailing the funding activity for the year, which will happen in fall.

For more information on how to apply for Pennsylvania EITC funding, please go to www.dced.pa.gov/programs/educational-improvement . There you can also find a complete listing of all approved Educational Improvement Organizations (EIO) in the state.

 

About Allentown School District Foundation

With a vision for enriched education for Allentown School District students, the ASD Foundation mission is to encourage, promote and support innovative educational experiences for students in the Allentown School District. If you would like to learn more, please contact Susan L. Williams, Executive Director of the Foundation, at 484-765-4093 or williamssu@allentownsd.org .

The mailing address is P.O. Box 328, 31 South Penn Street, Allentown PA 18105. www.allentownsd.org/asdf .

 

Information provided to TVL by:
Office of Communications
Allentown School District
www.allentownsd.org/