Businesses can support the World Affairs Council through Educational Improvement Tax Credits (EITC)!
What is the Educational Improvement Tax Credit (EITC) Program?
Tax credits are awarded to eligible companies and businesses that contribute to qualified educational improvement organizations in Pennsylvania, such as the World Affairs Council of Pittsburgh. These tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
How much tax credit can a company receive?
Tax credits are equal to 75 percent of the contribution – up to a maximum of $750,000 per taxable year. This can be increased to 90 percent of the contribution, if business agrees to provide same amount for two consecutive tax years.
What types of businesses are eligible to participate?
Eligible businesses are those authorized to do business in Pennsylvania who are subject to one or more of the following:
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
- Insurance Company Law of 1921
- Personal Income Tax of S corporation shareholders or Partnership partners
What types of educational programming at the World Affairs Council of Pittsburgh will your EITC funds support?
In an effort to prepare the next generation of leaders to succeed in today’s global economy, the World Affairs Council works with teachers and students in schools throughout Western PA. By offering a range of programs and activities, the Council helps students learn how to tackle a variety of global issues while learning to understand and appreciate the diversity of our increasingly interconnected world.
- International Student Summits offer high school students an opportunity to use technology to collaborate with their peers around the globe.
- The Student Ambassador Program is a comprehensive global education program designed for middle school students.
- Academic WorldQuest is an annual knowledge-based competition with questions on international issues.
- The Global Leadership Certificate is an initiative designed and developed by the World Affairs Council of Pittsburgh that recognizes high school students for their interest and dedication in learning about international affairs. Through a range of experiences offered at schools, in the community, and by the World Affairs Council, Certificate students build global awareness and strengthen key leadership skills needed for a 21st century workforce.
- The International Affairs Apprenticeship supplies high school students with the skills and information necessary for an international career.
- Additional international affairs programs reach over 10,000 students and teachers annually.
What is the EITC application process?
- Complete the Educational Improvement Organization (EIO) application from the PA Department of Community & Economic Development (DCED).
- Submit the completed application to DCED.
- Contingent upon available funding, and provided that your company does not owe back taxes, DCED will respond with an approval letter.
- Once approved, your business has 60 days to make your donation to the World Affairs Council of Pittsburgh.
- The World Affairs Council will provide an acknowledgement of your donation. Your business has 90 days to submit proof of your donation to DCED.
- The tax credit is effective the first day of the taxable year in which the contribution is made.