OnFire Youth Ministries, Inc. gained approval as a valid ‘Scholarship Organization’ on April 3, 2019 through the Pennsylvania Educational Improvement Tax Credit (EITC) program. This certification allows ‘OnFire’ to award financial scholarships to deserving students attending the Ignite Learning Center in Myerstown or New Covenant Christian School in Lebanon.
Pennsylvania provides tax credits for corporate contributions to ‘Scholarship Organizations’. The tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made. Pass-through entities, such as S-Corporations, Partnerships, LLC’s, etc., can now apply the same as C-Corporations. Tax credits are worth 75% of the contribution, however, a 90% credit can be claimed if the donor entity commits to two consecutive annual contributions. The donating identity must be authorized to do business in Pennsylvania and subject to one of the following taxes: Personal Income Tax, Capital Stock/Foreign Franchise Tax, Corporate Net Income Tax, or other PA entity taxes.
Pennsylvania businesses can apply for EITC credits by clicking the button below.