Tax Credit Programs
Educational Improvement Tax Credit (EITC)
For more information, contact Shayna Freed, Grants Manager, at 215-232-7272, x3077 or [email protected].
Pennsylvania businesses can donate to support Project HOME’s K-12 After School Programs at the Honickman Learning Center Comcast Technology Labs and receive tax credits ranging from 75 to 90 percent of their charitable contribution.
Impact
Our K-12 initiatives focus on literacy, math, and technology education, along with opportunities for arts and cultural classes, entrepreneurship, paid summer work, and leadership development, all offered outside of school hours in a safe and nurturing environment. Our robust College Access Program (CAP) is available to our teens who are pursuing post-secondary education. By providing supplemental academic and enrichment opportunities in Lower North Philadelphia, Project HOME strengthens the foundations of learning while empowering neighborhood children and teens to develop their skills and interests, giving them the tools and the confidence to be successful.
How Does EITC Work?
Project HOME is an approved Education Improvement Organization (EIO) under Pennsylvania’s EITC program.
Step 1: Apply for Tax Credits
For a one-time donation, you can apply for 75% of the donation amount as a tax credit. If you commit to the same donation for two consecutive years, that credit increases to 90%. Access the application and step-by-step instructions on the EITC Program’s website.
• Applications open on July 1 and tax credits are awarded on a first-come, first-served basis, so organizations should file their application as close to July 1 as possible.
• Those who are in the middle of a two-year commitment or have just finished a two-year commitment have access to early application beginning May 15, and should apply before the July 1 application opens.
Step 2: Make Your Donation
You will have 60 days after the approval of your application to make your donation, and Project HOME will provide a prompt receipt.
Step 3: Receive Your Tax Credits
Send your Project HOME donation receipt in to confirm your donation and receive your tax credits.
In appreciation of your investment in our educational programs, EITC donations will be recognized in Project HOME’s annual report.
Neighborhood Assistance Program (NAP)
For more information, contact Shayna Freed, Grants Manager, at 215-232-7272, x3077 or [email protected].
Project HOME has opportunities for you to help complete one-time projects that help enhance our programs under the Special Program Priorities (SPP) section of the Neighborhood Assistance Program (NAP).
Impact
All of Project HOME’s Operating and Capital Projects are eligible for this funding. Past projects have supported the Stephen Klein Wellness Center, Helen Brown Community Center, Honickman Learning Center and Comcast Technology Labs, and Capital Residential Projects. We will continue to focus on the 19121 community.
How Does NAP Work?
Businesses can contribute to an unlimited number of NAP projects at one or more nonprofits. A business paying taxes in Pennsylvania can receive up to $500,000 in tax credits annually if they support 1-3 projects, or up to $1,250,000 in tax credits annually if supporting 4 or more projects.
To be eligible, your organization must be an operating business firm authorized to do business in the Commonwealth of Pennsylvania that is 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), or Mutual Thrift Tax.
Step 1: Work With Project HOME to Choose an Eligible Project
Partnering with us on an SPP project, available annually, provides companies with a 75% tax credit for one-time donations. Unlike the EITC program, Project HOME applies for the program on behalf of your organization. See the Neighborhood Assistance Program’s guidelines for more details.
• A commitment letter of support and a tax compliance form filled out online are needed in advance for our application.
• In 2021, all project applications are due on May 28.
Step 2: Make Your Donation
Your donation would be due after a formal letter is received by Project HOME approving the project (usually in December), but before June 30 of the following year.
Step 3: Receive Your Tax Credits
Send your Project HOME donation receipt in to confirm your donation and receive your tax credits.
In appreciation of your business’ investment in our community, NAP donations will be recognized in Project HOME’s annual report.
