Give Your Child the
Best Education Possible.
Bravo Foundation is here to ensure that
household economics is not a barrier to the best
education for your child.
About
Bravo Foundation and donors who participate in Pennsylvania’s Educational Improvement Tax Credit (EITC) program ensure that household economics is not a barrier to the right education for every child.
Since September 2003, Bravo Foundation and our donors have been providing scholarships for students across the Commonwealth to improve their pre-kindergarten through 12th-grade education.
Bravo Foundation is a registered 501(c)3 non-profit organization with the Internal Revenue Service and an approved Scholarship Organization with the Pennsylvania Department of Community and Economic Development.
You can contact us at:
20 North Market Square, Suite 200
Harrisburg, Pennsylvania 17101
Phone 717.214.2200
Fax 717.214.2205
Email dawn@thebravofoundation.org
Learn
Educational Improvement Tax Credit (EITC) scholarships provide families the chance to choose the right school for their child’s pre K-12 education and businesses the opportunity to keep tax dollars in the community by supporting the education of local children.
For families with special education students, the maximum income levels are determined by multiplying the standard maximum income level for their family by 1.50 if the student is not enrolled in a special education school, or by 2.993 if the student is enrolled in a special education school. Special education schools must meet the guidelines set forth by the Commonwealth.
More than 5,400 companies have pledged nearly $510 million to programs across Pennsylvania, allowing students from nearly all of Pennsylvania’s 67 counties and 500 school districts to benefit from this program.
Are you a business?
Donate here.
Income Eligibility
Number of Children
Family Income
Under
$92,160
Under
$124,604
Under
$140,826
Bravo Foundation
Makes it Easy to
Donate to the
EITC Program.
This program started in May 2001, when Pennsylvania became the first state to pass an education tax credit, providing companies with a tax credit for donations to eligible non-profit Scholarship Organizations or Educational Improvement Organization.
If you are interested in making a contribution, please contact
Dawn Yanich at dawn@thebravofoundation.org
Donating
Donating to Bravo Foundation is a win-win.
Donor businesses benefit from a dollar-for-dollar reduction in tax payment. For Scholarship Organizations (SOs) and Educational Improvement Organizations (EIOs), there would be a 75% tax credit for a one year commitment contribution, a 90% contribution given for two consecutive years. For Pre-K Scholarship Organizations (PKSOs), a 100% tax credit is given for the first $10,000 and 90% given for the remainder of the contribution. The full amount of the contribution for all of these organizations is deductible for federal tax purposes as a charitable contribution.
Tax Credit Guidelines
- Corporate Net Income Tax
- Capital Stock and Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
Personal Income Tax – Subchapter s-corporations and other “pass through” entities will be able to use the credit against the shareholder, member or partners’ PA personal income taxes.
- Speak with your accountant or accounting office about how to contribute to Bravo Foundation.
- Submit the Business Application for Scholarship Organization Contribution or the Business Application for Pre-Kindergarten Scholarship Organization Contribution to Pennsylvania Department of Community & Economic Development (DCED).This Business Application Guide will give you step by step instructions for the application process. The application must be signed by the Chief Executive Officer or other officer capable of making this business decision.
Department of Community and Economic Development
The Educational Improvement Tax Credit Program
Center for Business Financing – Tax Credit Division
400 North Street, 4th Floor
Commonwealth Keystone Building
Harrisburg, PA 17120-0225
Telephone: (717) 787-7120
Fax: (717) 772-3581
E-mail: ra-eitc@pa.gov
**These applications do not guarantee the tax credit will be awarded. Applications will be processed on a first-come-first-serve basis by day submitted. Applications will be approved until the amount of available tax credits is exhausted.
Sample Tax Calculation – C-Corporation vs. Pass Through
| Income/Tax Data | C-Corporation | Pass-Through Entity | ||
| No Contribution | 90% Contribution | No Contribution | 90% Contribution | |
| Net Income before contribution and Tax | $220,000 | 220,000 | 220,000 | 220,000 |
| EITC Contribution | – 10,000 | – 10,000 | ||
| Fed Taxable Income before PA CNI or PA Personal tax | $220,000 | 210,000 | 220,000 | 210,000 |
| PA CNI Tax (9.99%) / PA Personal Income Tax (3.07%) | – $21,978 | – 21,978 | 6,754 | 6,754 |
| Federal Income after PA Tax | $198,022 | 188,022 | 220,000 | 210,000 |
| PA Tax Savings * | – | – | ||
| EITC Credit available for PA CNI or PA Personal Tax | – | $9,000 | – | $9,000 |
| Total PA Tax Savings | – | $9,000 | – | $9,000 |
| Fed/PA Taxable Income before Adjustments | $198,022 | 188,022 | 220,000 | 210,000 |
| Add Back: Reduction of State Tax Deduction | +$9,000 | +$9,000 | ||
| Net Federal Taxable Income from S-corp | $198,022 | $198,022 | 220,000 | 219,000 |
| Federal C-Corp Tax / Fed Ind. tax from Pass-Thru (Assume 35% bracket) | $60,479 | 60,089 | 77,000 | 76,650 |
| Federal Tax Savings | – | $390 | – | 350 |
| Total Tax Savings | – | $9,390 | – | 9,350 |
| Net Cost to Contribute $10,000 | – | $610 | – | 650 |
Note – Above calculations do not include computations for Alternative Minimum Tax or other tax
circumstances that may or may not apply to each individual situation. Please consult your tax advisor
for specifics to your overall situation.
*PA does not allow a deduction of certain expenses used to qualify for the EITC.
Applications
Businesses send DCED a one page application for the tax credit. Please use the Business Application Guide for a step by step breakdown of the application process. If there are funds available and the company does not owe back taxes, DCED will send an approval letter to the applicant. The company then has 60 days to make its donation(s) and then an additional 30 days to send proof of the donation(s) to DCED. The entire process must take no more than 90 days from the date of their approval.
Business Application Timeline
May 17 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 21/22 to renew their 2-year commitment.
Note: this date is typically May 15 but has been adjusted this year until the next business day.
May 17 – Businesses who are in the middle of their 2-year commitment.
Note: this date is typically May 15 but has been adjusted this year until the next business day.
July 1 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.
CONTACT US:
20 North Market Square, Suite 200
Harrisburg, Pennsylvania 17101
Phone: 717.214.2200
Fax: 717.214.2205
Email: dawn@thebravofoundation.org