Tax credits are available to eligible businesses contributing to a Scholarship Organization, an Educational Improvement Organization, and/or a Pre-Kindergarten Scholarship Organization through the Educational Improvement Tax Credit Program (EITC).  Most public libraries would qualify as an Educational Improvement Organization (EIO).  If an educational improvement organization is new to the program, there is no deadline to apply; renewing EIOs have a deadline of May 1.

These tax credits equal  75 percent of the business’ contribution to the EIO, up to a maximum of $750,000 per taxable year. If the business agrees to provide the same amount for two consecutive tax years, the credit can be increased to 90 percent of the contribution.

This may be a great incentive for those businesses donating to your organization.

Learn how businesses sign up on the Department of Community and Economic Development (DCED) website and how Educational Improvement Organizations may apply.