DreamWrights Educational Improvement Tax Credits

CLICK HERE FOR TAX FORM

So, how cool would it be to make a $25 donation to DreamWrights and have DreamWrights actually receive $250, or better yet turn a $100 donation into $1,000? Believe it or not that is possible! Take a few minutes and read on to see how you can help make this happen for DreamWrights.

 

How does it work?

The State of Pennsylvania has made $18.0 million of tax credits available for ONE DAY ONLY ON July 1, 2008 through the Educational Improvement Tax Credit program.

 

This allows qualified donor organizations to "Funnel" up to 90% of their PA State tax obligation to Dream Wrights.

- A $100 contribution turns into a $1,000 contribution to DW

- A $250 contribution turns into a $2,500 contribution to DW

- A $1,000 contribution turns into a $10,000 contribution to DW

 

Last year DreamWrights received more than $60,000 from this program.

Believe it or not, most small businesses in Pennsylvania have no idea it exists!

 

Who's eligible?

To Give: Corporations (most small businesses are a type of corporation) that will pay PA state business Tax including: Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company Shares Tax, Title Insurance Companies Shares Tax, Insurance Premiums Tax, Mutual Thrift Institutions Tax.

 

To Receive: Receiving Organizations must qualify annually, proving that they add value to the public schools. DreamWrights is qualified to receive donations from EITC donors.

 

Some of you may have recently completed your individual Federal and state tax returns. Yuck!

Mechanically, the EITC tax credits work the same way, where a Company donates $1,000 and then gets a "tax credit" for $900, which reduces the amount that they otherwise would owe the State.

 

What does the donor have to do?

1. Fill out and return the "application form" to DW by the end of June - this is not a guarantee they will be selected to receive funds.

2. Once notified that they received the "credits", donate to DW within 60 days.

 

So what can you do?

1. Contact, your employer and a few other places where you spend money (Dry Cleaners, Hardware store, Realtor, Insurance Agent, Vet, Sporting Goods, Restaurant, Car Dealers, etc.)  - ask them three simple questions:

a. "If you are eligible would you consider participating in the program?"

b. "If you are selected would you consider donating to DreamWrights?"

c. "Can I have someone from DreamWrights call you to fully explain the program and help you through the steps?"

2. If they are interested in help or a better understanding of the program, please contact the theatre at (717) 848-8623.

Educational Improvement Tax Credits