Local Businesses’ Increased Contributions to Foundation Help Expand School Programs
Wyomissing, Pa., February 21, 2017
Wyomissing Area School District students benefit from innovative programs and projects, largely due to the increase of Educational Improvement Tax Credit (EITC) donations into Wyomissing Area Education Foundation (WAEF).
During the past two years, WAEF has seen growth in local business contributions through the Pennsylvania EITC Program. “It’s a win-win proposition for area businesses,” explains Karen Moser, WAEF Executive Director. “Locally engaged organizations can provide funding for our innovative programs that don’t necessarily fit into the school budget; in turn, they receive a large credit on state taxes. But more importantly, students are gaining positive experiences from these programs that help drive their passion for a career path.”
Three key donors who have each given over $5,000.00 this year are: Tompkins Vist, Phillips Office Solutions, and Giant Foods. Other recent donors include: Avalon Insurance, First Priority Bank, Fulton Bank, Orrstown Bank, Riverview Bank, and Weis Markets.
WAEF is approved by the Pennsylvania Department of Community and Economic Development (DCED) as an Educational Improvement Organization (EIO), which allows the Foundation to accept donations through the EITC Program. The EITC Program is a state tax credit program that provides companies with a 90 percent tax credit for donations to a non-profit scholarship or educational improvement organization if the company commits to making the same donation for two consecutive years.
EITC donations support programs that fit specific criteria and are characterized as “innovative.” These are programs that are not part of the regular school district budget of a public school but enhance the curriculum, and are approved by the Pennsylvania EITC Program. Science, technology, mathematics, and AP curriculum enhancements, as well as the “Wyo 5 Live” Media Center (where students produce news and other programs) at Wyomissing Area Jr./Sr. High School, are areas that have benefited from EITC contributions.
“At a time when schools face budgetary challenges, it’s wonderful to see local businesses stepping up,” said Moser. “When schools and their community work together, great things happen. We’re building stronger communities and brightening the future of our youth.”
For more information, contact Karen Moser at: email@example.com.