Turn Your Tax Dollars into TAX CREDITS!

Instead of sending tax dollars to Harrisburg, would you rather invest in the Hanover Area Family YMCA's Early Learning Center? If your answer is yes, then you will want to know about a tax credit program that will redirect your tax dollars locally.

The Hanover Area Family YMCA has a Pre-K Scholarship Organization (PKSO) that is EITC-approved and your businesses can receive a tax credit against their state taxes of up to 100% for donations made to our organization.

Which Businesses Are Eligible?

Businesses that are subject to one or more of the following taxes in Pennsylvania:

Corporate Net Income Tax
Personal Income Tax of S Corporation Shareholders or Partners in a General or Limited Partnership
Capital Stock Franchise Tax
Bank and Trust Company Shares Tax
Title Insurance Companies Shares Tax
Insurance Premiums Tax
Mutual Thrift Institution Tax

Background on the EITC Program

The commonwealth of Pennsylvania created the EITC Program in 2001. Pennsylvania's Department of Community & Economic Development (DCED) administers the program.

Tax credits through the EITC Program have been so popular that the state has maintained or increased the amount of credits available each year since the program began.

The commonwealth of Pennsylvania has allocated $6.4 million in tax credits to the EITC program for 2010/2011.

Benefits to Your Business – Why This is a Win-Win Situation

Your business will receive a 100% tax credit for donations to the Hanover Area Family YMCA-PKSO of up to $10,000 (there is no minimum donation amount).

Your business will receive a 90% tax credit for any additional amount donated to the Hanover Area Family YMCA-PKSO up to a maximum tax credit of $150,000.

At minimal or no cost to your business, you can help a local organization that is helping local children.

Additionally, your business may see a benefit in federal taxes, because the donation is deductible for federal tax purposes.

Your donations to the Hanover Area Family YMCA-PKSO will provide scholarship money to children who otherwise may not be able to attend preschool.

Businesses can participate in the EITC program year after year.

How Can Your Business Participate in this Program?

First decide how much of your tax liability you would like to redirect to the Hanover Area Family YMCA-PKSO.

Submit a simple one page application to the DCED. Click here for a copy of the form.

If approved, make your donation to the Hanover Area Family YMCA-PKSO.

We will provide you with a receipt that you will submit to the DCED as proof of your contribution.

The tax credit will then be awarded and must be used in the same tax year.

How Can the YMCA Help?

We will be happy to answer any questions you may have about participating in this program. Also, once you make a decision to participate, we will work with you or your accountant, complete the application for your signature, and even deliver your application for you.

Application and State Website

Click here for an application form or the State's published business guidelines.