Corporate EITC Contributions
With your support, every child can experience the joy of live theatre.
Through the Educational Improvement Tax Credit program (EITC), qualified businesses can fulfill their state tax burden and receive a 75% state tax credit or a 90% state tax credit for contributing to nonprofit educational organizations like Arden Theatre Company.
Our participation in the EITC program is important as many of the nonprofit organizations in the area struggle to raise funds each year to support their programs – programs that provide enjoyment, education, and enlightenment to all of us and deserve our financial funding. We know that many of our employees live in the city and take advantage of the diverse cultural attractions that make Philadelphia such a great place to live. Your employees probably do as well.
Joanne Harmelin, CEO
EITC supports Arden for All (AFA), the Arden’s elementary arts education program.
Arden for All (AFA) is our in-school arts education program and is based on the belief that arts-inspired education should be equally available to children from all socioeconomic backgrounds. The program serves students from 3rd-5th grade classrooms in economically disadvantaged schools in Philadelphia, PA and Camden, NJ, and is designed to encourage literacy, inspire creativity and confidence, and allow students to discover their unique strengths and abilities.
Through our Arden for All activities this school year, we will provide 6,000 free theatre tickets, show-related books and bus transportation to underserved students from 90 classrooms across 13 schools. By the end of the school year, participating students will spend 40 hours on literacy-related activities through Arden for All. Learn more about Arden for All here.
All applications for the EITC program must be completed online. For guidelines, instructions, and to renew or apply for the first time, please visit the PA Department of Community and Economic Development’s (DCED) EITC website.
Please visit the PA Department of Community and Economic Development’s (DCED) EITC website for full guidelines.
- Who is eligible to participate? Entities eligible to apply for EITC are operating business firms authorized to do business in the Commonwealth of Pennsylvania that are subject to 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 Premiums Tax (excluding surplus lines, unauthorized, domestic/foreign marine), Mutual Thrift Tax, Malt Beverage Tax or Retaliatory Fees under Section 212 of the Insurance Company Law of 1912.
- How do I get approved? All applications for the Educational Improvement Tax Credit Program must be completed and submitted online using DCED’s Single Application for Assistance which can be accessed at dced.pa.gov or www.esa.dced.state.pa.us. An eligible business firm that submits an application to the Department, and agrees to make a contribution to Arden Theatre Company’s Arden for All program shall be awarded Educational Improvement Tax Credits to the extent that such tax credits remain available for the fiscal year in which application is made.
- Once approved, how much can my business donate? A business firm will be approved for a tax credit equal to 75% of its contribution(s) to listed organization(s), up to a maximum of $750,000 per taxable year. The tax credit may be increased to 90% of the contribution(s) made, up to a maximum of $750,000 per taxable year, if the business firm agrees at the time of application to provide the same amount of contribution for two consecutive tax years.
- Once approved, when do I have to make my gift? Upon receipt of written notification from the DCED that the business firm has been approved for tax credits, the business firm must make its contribution to Arden Theatre Company within 60 days of the date of the letter, and must provide proof of the contribution in the form of a written acknowledgment from the Arden (provided by the Arden), to the Department within 90 days of the date of the approval letter.
- Can I claim a charitable deduction for the difference between the tax credit amount and my gift? Yes, a business firm can claim a charitable deduction for the difference between the tax credit amount and the gift. For example, if you donate $5,000 to Arden Theatre Company’s Arden for All program each year for two years, you receive a tax credit of $4,500 per year, plus the ability to claim $500 as a charitable deduction.
- How much tax credit is available? The amount of tax credit given by the state of Pennsylvania is limited, and applications will be processed on a first-come, first served basis.
For assistance with your application, please contact Lauren Hughes, Director of Development, at 215.922.8900 x149 or firstname.lastname@example.org.
©2018 Arden Theatre Company, 40 N. 2nd St., Philadelphia, PA 19106. For tickets, call 215.922.1122.