Merchants Bank Donates Educational Improvement Tax Credit (EITC) Funds to The Foundation for Easton Schools
(Bangor, PA) Merchants Bank awarded The Foundation for Easton Schools with $1000 to support the Sizzle! Literacy Day Camp Program. The Sizzle! Literacy Day Camp Program is designed to accelerate learning skills in children in Kindergarten through third grade. The structure includes cross-curricular activities in mathematics, science and social studies that also enrich competencies in those content areas through reading. The program goal is to provide opportunities for on-going reading instruction to approximately 160 students who are selected based on their end of year DIBELS below-standard assessment score.
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 to 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 for our bank to support the local community. It’s never a guarantee that we will receive approval for the tax credit. We try to support every eligible non-profit organization in our market each year with the dollars allocated within our budget,” says Rocco Del Vecchio, CEO, Merchants Bank.
“The support we receive from Merchants Bank’s contribution helps us to provide a free literacy program to 100% of the participating students who are also eligible to receive a free breakfast and lunch as determined by HUD. Community support is vital to the continuation of the program on an annual basis. We are very grateful for Merchants Bank’s continued contribution,” says Kathy L. Miller, Executive Director, The Foundation for Easton Schools.
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 Spirit of Forks Award
as well as The Volunteer Center of the 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) – Davene Perruso, Merchants Bank, Kathy Miller and Tracy Piazza, The Foundation for Easton Schools, Sandee Kennedy, Merchants Bank.