Community Partners & Tax Credit

The KASD Education Foundation was one of the first non-profit educational organizations approved by the Department of Community and Economic Development in 2001, as eligible for the state’s Educational Improvement Tax Credit (EITC) Program. Under this program, tax credits may be awarded to businesses that make contributions to approved Educational Improvement Organizations.

A business may receive a tax credit equal to 75% of its contribution to an EITC organization, up to a maximum of $750,000 per taxable year. The tax credit may be increased to 90% of the contribution made, up to a maximum of $750,000 per taxable year, if the business agrees to provide the same amount of contribution to an organization for two consecutive years.