Merchants Bank Donates Educational Improvement Tax Credit (EITC) Funds to Faith Christian School in Roseto
(Bangor, PA) Merchants Bank awarded the Faith Christian School with $1000 for the school to provide tuition scholarships for families that desire to attend a quality academic school that has a strong Christian World-view. The school administration and the faculty along with the 150 students grades K through 12 were present at the check presentation.
As part of Pennsylvania’s Educational Improvement Tax Credit (EITC) Program, Merchants Bank provides funding to select non-profit organizations. The EITC program awards tax credits to businesses for their contributions to scholarship organizations, educational improvement organizations and/or pre-kindergarten scholarship organizations. These organizations and their programs must eligible and approved by the state in order receive funding under the program.
Merchants Bank has participated in the EITC program for several years. The bank submits an application to the state listing the organizations they would support for EITC. The state provides credit in random order until all available tax credits are exhausted. “This is a very valuable and additional vehicle our bank used to support the local community. It’s never a guarantee that we would be approved for the tax credit. The available credit is based on what the state allocates in that budget year and the amount of EITC submissions, so every contribution we make counts for the organizations we can support,” says Rocco Del Vecchio, CEO, Merchants Bank.
“The school is honored to be on Merchants Bank list of organizations. We have students coming to us from the Poconos, New Jersey, and Bethlehem as a result of the quality education and the personal attention they receive. The funds assist us in giving every deserving student an opportunity to attend our school, says Leeann Long, Principal, Faith Christian School.
Established in 1890, Merchants Bank is a locally owned and operated community bank. Headquartered in Bangor, PA, Merchants has two branch offices in Bangor and additional offices throughout the Lehigh Valley, including Mount Bethel, Wind Gap, Nazareth, Forks Township, Martins Creek, Easton, and Bethlehem, PA. In 2013 the Bank was recognized for its community involvement and volunteerism through two awards: Greater Lehigh Valley Chamber of Commerce’s The Spirt of Forks Award as well as The Volunteer Center of Lehigh Valley’s Spirit of Volunteerism Award. MNB Investment Services is a division of the bank and offers investment and wealth management financial services. For more information, please visit www.merchantsbangor.com.
In the photo (left to right) – Leann Long with Rocco Del Vecchio and all the faculty and students.