NORTHAMPTON, MA / ACCESSWIRE / December 12, 2024 / KeyBank
The Educational Improvement Tax Credit Program (EITC) awards tax credits to eligible businesses contributing to qualified organizations.
Today KeyBank announced it has awarded 16 Western Pennsylvania organizations with funding through Pennsylvania's Educational Improvement Tax Credit (EITC) program totaling more than $525,000.
Under the program, Pennsylvania allows individuals and businesses to obtain a state tax credit equal to 90% of their Pennsylvania state tax liability for eligible contributions. These contributions must be made either to schools that provide tuition assistance to students from low-income households or to approved Educational Improvement Organizations.
"At KeyBank, we are dedicated to fostering the success of students by supporting a variety of organizations and programs that provide essential educational resources. Our mission is to empower students not only to excel in their studies but also to graduate successfully, thereby gaining access to valuable college and career-building opportunities," said Vic Laurenza, KeyBank's Western Pennsylvania Market President. "We recognize the significant impact of the EITC program and the vital role it plays in enabling us to contribute meaningfully to those organizations that are shaping and educating the leaders of tomorrow. By investing in education, we are investing in a brighter future for our communities."
The funding from Key ranges from $25,000 to $50,000 and have been made to the following community organizations based in greater Pittsburgh and Erie:
Angel's Place Inc.
Boys Hope Girls Hope of Pittsburgh
Crossroads Foundation
Dr. Gertrude A. Barber National Institute
Erie Day School
Extra Mile Education Foundation
Imani Christian Academy
Lifesteps, Inc.
The Neighborhood Academy
Mercyhurst Preparatory School
Pittsburgh Jewish Educational Improvement Foundation
POISE Foundation
Scholastic Opportunity Scholarship Fund - Butler Catholic School
Sewickley Academy
Villa Maria Cathedral Preparatory Catholic School System
Washington County Community Foundation
ABOUT KEYCORP
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $188 billion at September 30, 2023.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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SOURCE: KeyBank
View the original press release on accesswire.com
