MMI Preparatory School received a $1,000 contribution from FNCB Bank through the Education Improvement Tax Credit (EITC) program that the school will use to support need-based scholarships for students. The EITC program is administered by the Pennsylvania Department of Community and Economic Development.
MMI Director of Advancement Kim McNulty said, “On behalf of everyone at MMI, I’d like to thank FNCB for once again making such a generous contribution to our school. We strive to support families to make sure an MMI education is available to all students who qualify for admissions. Donations to MMI like this one through the EITC program will directly support funding for children in need and provide them with the opportunity to attend our school.”
FNCB Vice President Mike Cummings said, “Since 2010, FNCB has contributed more than $1.6 million to local educational and scholarship organizations through the EITC initiative and our larger Community Caring initiative. We take pride in our role as a local, community bank and work to make a difference through volunteerism, donations, and outreach programs.”
For more than 100 years, FNCB has provided not only comprehensive and cutting-edge personal banking products, but also a high level of personalized service and dedication to communities throughout northeast Pennsylvania and the Lehigh Valley. For more information, visit www.fncb.com.
Pennsylvania is one of only a few states in the nation that offers the EITC program, which gives tax credits to eligible businesses contributing to a scholarship organization. Through the program, all businesses that donate to MMI are eligible to receive tax credits amounting to 75 percent of their charitable contribution for a one-year period. The tax credit increases to 90 percent if the company commits to making the same donation for two consecutive years. A business paying taxes in Pennsylvania can receive up to $300,000 in tax credits annually. Donations of any amount are eligible for the tax credit.