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MPS deadline
for EITC applications
is no later than
FRIDAY, JUNE 29th, 2007.

Let us help!
please contact:
David Agresti,
(814)824-2408, dagresti@mpslakers.com

MPS LINK &
EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC)

A "WIN-WIN" tax situation when businesses partner with MPS Link and E.I.T.C.
We benefit with needed scholarship funds, you benefit by reducing your actual tax bill!

Mercyhurst Prep has established MPS Link to accept tuition tax credits known in Pennsylvania as Educational Improvement Tax Credit or EITC.  These EITC’s are monies are used by Mercyhurst Prep as a vehicle to provide financial aid for needy students that dream of attending MPS, that otherwise may not.  The remarkable trait of this unique program is that it actually allows you to direct your business’s Pennsylvania state taxes to a scholarship fund by applying for tax credits up to $200,000.00!  If eligible, you may then receive a maximum 90% tax credit for a two-year commitment or a 75% tax credit for a one year commitment.  YOU can physically direct this money straight into your community by providing scholarships to Mercyhurst Prep.  Why send it off to Harrisburg when you can self-direct it here?

If your company is classified as a ”C” corporation and you commit to a two-year directed donation, your tax credit will be 90% of that directed donation against your state corporate net income on profits or state capital stock tax on the value of your company.  Commit for just one year and you will still receive a 75% tax credit.  If your company is classified as an “S” corporation and you commit to a two-year donation, your tax credit will be 90% of your directed donation against your state capital stock tax on the value of your company.  Commit for just one year and you will still receive a 75% tax credit for those taxes.

The Educational Improvement Tax Credit was established in July 2001 by Governor Thomas Ridge and approved by the State Legislators.  The EITC gives tax credit to businesses that make a donation to a scholarship organization.  The donor applies for a tax credit through EITC application and chooses the scholarship organization on the application.  The donor mails the application themselves, or allows MPS to hand deliver the application, to the Department of Community and Economics Development (DCED) in Harrisburg.  An approval letter will then be mailed to the donor by the DCED.  Pennsylvania’s application deadline day is on July 2, 2007. (MPS deadline is no later than Friday, June 29th, 2007)

EITC’s provide much needed lifeboats to students wishing to receive a value-based education from Mercyhurst Prep that otherwise would not be able to attend.  It’s a WIN-WIN situation within your control. 

For more information, to access the application, or to review guidelines, simply link to the Department of Community and Economic Development website at www.NewPA.com, or call David Agresti at (814) 824-2408.