Businesses Can Direct State Taxes to Scholarships
The Hillside School participates in a state tax credit program established by the Pennsylvania Department of Community and Economic Development.
The Educational Improvement Tax Credit (EITC) enables companies to support local non-profit charities. The EITC program allows businesses and corporations in the Commonwealth to substitute up to $200,000 per year of business tax, and earmark those funds for scholarships for children to attend independent or religious schools approved by the state.
Scholarship Organizations (SOs) are non-profit organizations that provide scholarships to children all across Pennsylvania to attend the school of their choice, public, non-public or religious. Scholarship organizations must distribute at least 80% of their funds in scholarships annually. Families of children receiving scholarships must meet state income guidelines, as well as the guidelines of the scholarship organization (The Hillside School) granting the scholarship.
This is an opportunity for businesses to support educational institutions with contributions, while experiencing a state tax benefit when doing so. Last year, 25 companies contributed $246,046 to the Lehigh Valley Independent School Scholarship Program (LVISSP) – a joint venture between The Swain School and The Hillside School. Our share of $123,023 was used for scholarships for children who otherwise would not have been able to attend The Hillside School.