New Hope Approved for EITC Program

New Hope Ministries has been approved as an Education Improvement Organization (EIO) under Pennsylvania’s Educational Improvement Tax Credit (EITC) program, specifically for our Dual Enrollment Scholarship Program to help low-income high school students earn college credit while still in high school.

EITC is administered by the Department of Community and Economic Development (DCED) under Act 48 and awards tax credits to businesses that make contributions to scholarship organizations and/or educational improvement organizations that are on a list approved and published by DCED. New Hope’s listing as an approved EIO organization can be found by searching for our organization through this link.

Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.

Eligible businesses are those authorized to do business in Pennsylvania who are subject to one or more of the following taxes:

  • Personal Income Tax
  • Capital Stock/Foreign Franchise Tax
  • Corporate Net Income Tax
  • Bank Shares Tax
  • Title Insurance & Trust Company Shares Tax
  • Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
  • Mutual Thrift Tax
  • Malt Beverage Tax
  • Retaliatory Fees under section 212 of the Insurance Company Law of 1921

Tax credits equal to 75 percent of its contribution up to a maximum of $750,000 per taxable year. Can be increased to 90 percent of the contribution, if business agrees to provide same amount for two consecutive tax years. For contributions to Pre-Kindergarten Scholarship Organizations, a business may receive a tax credit equal to 100 percent of the first $10,000 contributed and up to 90 percent of the remaining amount contributed up to a maximum credit of $200,000 annually.

EITC Business Application Guide

EITC Business Guidelines and Applications

To learn more about the EITC program for businesses, please visit the DCED EITC website.

Annual deadlines for business applications:

May 15 – Business applications who have fulfilled their 2-year commitment and wish to reapply to renew their 2-year commitment

May 15 – Businesses who are in the middle of their 2-year commitment

July 3 -   All other businesses including Pre-K business applications

Applications must be submitted electronically using DCED’s Single Application for Assistance weblink.

For more information about EITC or New Hope’s approved programs, please contact Molly Helmstetter, Director of Development, at 717-432-2087 x203 or mhelmstetter@nhm-pa.net.


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