MMI Preparatory School recently received a $5,000 contribution from Mid Penn Bank through the Education Improvement Tax Credit (EITC) program to go toward need-based scholarships at the school.
MMI Director of Advancement Kim McNulty said, “On behalf of everyone at MMI Preparatory School, I’d like to thank Mid Penn Bank for their generous contribution. We believe that any student who desires it can achieve an MMI education and support of our school through the state’s tax credit programs helps our effort to make our educational experience available to the most capable students regardless of their financial circumstances.”
Luci Kulish, Firs Vice President at Mid Penn Bank said, “Mid Penn Bank is honored to help MMI continue their long history of making their education available to students who desire to attend. We are so pleased to be able make this donation to the need-based scholarship program.”
As an approved scholarship organization, MMI is designated to receive contributions through the EITC program, which is administered by the Pennsylvania Department of Community and Economic Development. 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. 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.
Since 1868, Mid Penn Bank has remained committed to serving the local community and providing comprehensive financial solutions.
Originally founded in Millersburg, Pennsylvania at the “Millersburg Trust Company,” Mid Penn has expanded over the years to become a full-service financial institution operating throughout Pennsylvania. In 2015, Mid Penn completed its acquisition of Schuylkill County-based Miners Bank. In early 2018, Scottsdale Bank & Trust was acquired, expanding Mid Penn’s footprint into western footprint into western Pennsylvania. First Priority Bank, based in southern Pennsylvania, was acquired in August 2018. As a result of the First Priority merger, Mid Penn now operates a total of 36 retail locations across Pennsylvania. The consolidated assets of Mid Penn Bank are now valued at approximately $3 billion.
For more information about the Education Improvement Tax Credit program, contact Kim McNulty at 570-636-1108 or firstname.lastname@example.org.
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