More Than Just a Tax Credit
There are many benefits to participating in the EITC program, but they can be easily missed if your bank is not working with an EITC administrator that will make the donor’s benefit their first priority. We are pleased to have been chosen as the select vendor for EITC administration services by the PA Bankers Services Corporation.
Lower Your Administrative Costs
Commonwealth can supplement your current EITC administrative program or provide start to finish services. We work for you. We can submit your applications to DCED on your behalf, track your donations year to year, keep on top of deadlines and changing requirements. We can coordinate and report on your entire program. While your donation can benefit dozens of organizations, we provide a single donation acknowledgement letter for each area of EITC you participate in: SO, PreK, EIO.
Maintain Donor Identity
Reach students, families, schools and organizations. We put the donor's logo front and center in all communications with recipients and beneficiaries.
Did you know that EITC donations can be used toward your bank’s CRA requirement? It’s possible, but the income levels for EITC scholarships and CRA eligibility are different, and the administrator must know how to accommodate those differences. We understand CRA and can provide all the supporting documentation you need.
You can direct your scholarships and grants to organizations, school districts and students in the areas that your branches serve, where your employees live and where you do business.