Foundation EITC Opportunities
The Center for Dairy Excellence Foundation’s Dairy Leaders of Tomorrow and Discover Dairy programs are approved as an Educational Improvement Organization (EIO).
Qualifying businesses (LLCs, Partnerships, S-Corporations, C-Corporations, etc.) making charitable contributions to approved educational organizations (EIO) can take a significant tax credit against several Pennsylvania corporate taxes. Importantly, business owners can also elect to pass through the tax credit against their PA personal income tax liability.
The Center for Dairy Excellence Foundation’s (CDEF) Dairy Leaders of Tomorrow (DLT) Program, a high school educational program developed to encourage young people to consider a career in dairy farming, is now qualified to be a beneficiary for charitable contributions under this program. The Foundation’s Discover Dairy Program, an upper elementary and middle school program focused on teaching students where their milk comes from and how dairy farmers contribute to the world is also qualified for charitable contributions under the EITC program.
To take advantage of the EITC program, first-time applicants can file an on-line application beginning July 1 of the qualifying year. Businesses currently participating in the EITC program can file their applications beginning May 15. Availability is on a first come-first served basis until the state wide target amount is achieved. Businesses can take a tax credit of 75% of the amount contributed to the CDEF-DLT for a one-year commitment or 90% of the contribution if a two-year commitment is made.
Business application guidelines and more details about the enrollment process can be found by visiting the website. To find out if this opportunity would benefit your business, contact your financial consultant or tax advisor. You may also contact the Center for Dairy Excellence Foundation for more information at 717-346-0849 or firstname.lastname@example.org.