NEARLY A HALF-MILLION DONATED FOR DIOCESAN SCHOLARSHIPS
Businesses/Individuals Contribute $460 K This Year to Second Century Scholarship Fund
From July 2006 through May 2007, over 30 regional businesses made donations to the Second Century Scholarship Fund through Commonwealth of Pennsylvania tax credit programs. These generous gifts--totaling more than $460-thousand--assist worthy students who attend Catholic pre-K, elementary and secondary schools in the Diocese of Altoona-Johnstown. Donations to the Educational Improvement Tax Credit Program (EITC) provide tuition assistance to financially-eligible students from kindergarten through 12th grade, while donations to a separate Pre-Kindergarten Tax Credit Program (PKTC) provide tuition assistance to eligible preschoolers. Companies can earn up to a 90 percent tax credit for EITC donations and a 100 percent tax credit for PKTC donations. Essentially, this unique program permits companies to redirect a portion of their tax dollars to support area Catholic schools instead of remitting those taxes to Harrisburg.
“Businesses that learn about these programs are eager to participate because of the opportunity to steer their tax dollars for use in their markets,” says Denise Moyer-Hand, annual funds manager for the diocesan development office. “These gifts often help schools that serve their employees and customers directly. It is a wonderful opportunity to aid families who wish to offer their children access to the benefits of Catholic school education.”
The Diocese of Altoona-Johnstown established the nonprofit Second Century Scholarship Fund in July 2001 to receive contributions through the educational tax credit program. Since its inception, the Fund has received nearly $2.5 million in donations from local and regional businesses. The SCSF received $460,398 from July 1, 2006 through May 15, 2007, including nearly $83,000 in pre-K support. At least 90 percent of these funds will be made available as scholarships in the upcoming 2007-08 academic year.
“We are so grateful to the business leaders who have and are continuing to support the Second Century Scholarship Fund,” comments Sister Mark Plescher, diocesan assistant director of education for elementary education. “The Fund has made a special impact on the pre-K programs and elementary schools in our diocesan parishes.”
A majority of SCSF grants have been directed to younger Catholic school students, but some have been designated to assist 9th- to 12th-graders who attend one of the three diocesan high schools – Bishop Carroll in Ebensburg, Bishop Guilfoyle in Altoona and Bishop McCort in Johnstown.
It should also be noted that while a majority of donations made to the scholarship fund have come through the tax credit program, there are a number of individual and corporate donors who have made direct charitable contributions to the SCSF. In fact, due to the limitations on tax credits made available by the state annually, gifts outside of the EITC/PKTC programs may become more important in years to come. The SCSF is approved by the PA Department of Community and Economic Development to receive donations through the PKTC as well as the EITC.
Businesses interested in earning tax credits for the 2007-08 fiscal year are encouraged to prepare their applications to FAX to DCED on July 2 – the first date applications will be accepted in the very competitive program. In recent years, most or all of the tax credits are claimed by businesses that made application on the first day. Applications for tax credits are available on the Internet through www.inventpa.com or www.secondcenturyfund.org.
Businesses contributing to the Second Century Scholarship Fund since July 1, 2006:
 611 Open MRI
Allegheny Orthodontic Assoc.
Bedford Regional Urology, P.C.
Catanese Group
CME Engineering
Cove Beverage, Inc.
Cresson Steel Company
DelGrosso Amusement Park
Fieldcrest Steel Corp
First Commonwealth Financial Corp
Graystone Bank
Griffith-Gress Oral Surgery
Henkel’s & McCoy
Inco Beverage, Inc.
Investment Savings Bank
Jersey Shore State Bank
Johnston Realty, Inc.
L. Robert Kimball & Assoc.
L. S. Fiore, Inc.
Lacue Chevrolet Buick Pontiac
Laurel Motors
Lexington One, Inc.
M & T Bank
NPC Corporation
Reilly, Creppage & Co., Inc.
Reliance Bank
RNS Services, Inc.
Robindale Energy Services
Sovereign Bancorp
Ward Trucking
Waste Management
Wheeler Brothers, Inc.
Wolf Furniture Enterprises, Inc.
Zepka Harley-Davidson
[As of May 21, 2007]
This is just a partial list of the many area businesses who have contributed generously since 2001 to the SCSF through PA Educational Improvement Tax Credit Program.
|
