Support GMS through your tax dollars
 
EITC: Support GMS through your tax dollars
 
Steer your tax dollars toward making a difference in the lives of young people. The Educational Improvement Tax Credit Program (EITC) is a great way for businesses to reduce their tax liability by contributing to approved organizations like the Glen Mills Schools (GMS). Founded in 1826, GMS is a school of opportunity where youth can be transformed into positive and contributing members of society.
 
Download an Informational Flyer.
 
How to Participate:

Act now! The application period opens July 1, however tax credits are typically exhausted within a week, so it is important to apply right away.

  1. Visit www.newpa.com and search “EITC.”
  2. Submit the electronic Single Application for Assistance and await notification of approval.
  3. Contact donations@glenmillsschools.org or 610-459-8100, Ext. 201 to talk about the amount your business was approved for, and how you can make a contribution.
  4. GMS will send your company a confirmation receipt.
  5. Send the receipt to the state, who will attach the final confirmation letter to your company’s tax return.
  6. Redeem your tax credits.
What are the benefits?
  1. It’s free! There is no cost to apply for EITC. The gift is a reallocation of your state tax dollars.
  2. You can claim your EITC donation as a charitable gift on your federal taxes (within IRS guidelines).
  3. If your company commits to making the same donation for two consecutive years, the tax credit increases to 90%.
  4. EITC gives you the power to put your tax dollars to work making a difference for youth in your community.

Tax credits can be used for:

  1. Corporate Net Income Tax
  2. Bank Shares Tax
  3. Insurance Premiums Tax
  4. Capital Stock/Foreign Franchise Tax
  5. Mutual Thrift Institutions Tax
  6. Title Insurance and Trust Company Shares Tax
  7. Malt Beverage Tax
  8. Personal Income Tax

Do you qualify? These business ownership structures can utilize tax credits as pass through for their personal income tax liability:

  1. S corporations
  2. General Partnerships
  3. Limited Partnerships
  4. Shareholders, Partners or Members of S Corporations
  5. Single member of Limited Liability Company (LLC)

Questions? Contact donations@glenmillsschools.org | 610-459-8100, Ext. 201