Grants totaling $287,500 from Verizon Pennsylvania and Verizon Wireless will open up a range of educational and scholarship opportunities for children served by 29 nonprofit organizations across the state.
The grants were made possible through Verizon's participation in Pennsylvania's Educational Improvement Tax Credit (EITC) program, which last year authorized $60 million in tax credits to Pennsylvania businesses that made contributions to scholarship, educational improvement, or pre-K scholarship organizations. Verizon selected the nonprofits from a state-approved list, awarding grants ranging from $2,000 to $59,000 to support educational programs.
"Verizon's participation in Pennsylvania's EITC program demonstrates our continued dedication to promoting the value of education," said Gale Y. Given, president of Verizon Pennsylvania. "It's a win for the children and parents in the communities served by these nonprofits, and it's a win for companies like Verizon, which have an opportunity to invest in education and prepare our children to meet the unique challenges of living and working in the 21st century."
Mario Turco, president of Verizon Wireless' Philadelphia region, said, "Through programs like the commonwealth's EITC, Verizon Wireless is proud to play a role in helping aspiring young leaders get the education they need, and that our society needs them to have, in order to compete in a tech-driven, global economy."
The grants awarded through the EITC program complement the millions of dollars in grants Verizon has annually awarded to scores of Pennsylvania nonprofits through the Verizon Foundation, Verizon Wireless HopeLine® and the company's Check Into Literacy campaign.
The following nonprofit organizations received grants:
- Children's Scholarship Fund, Philadelphia ($59,000).
- Corporation for Penn State, University Park ($50,000).
- Bridge Educational Foundation, Harrisburg ($25,000).
- Philadelphia Academies Inc., Philadelphia ($25,000).
- Please Touch Museum, Philadelphia ($15,000).
- Need in Deed, Philadelphia ($8,500).
- Allegheny Youth Development, Pittsburgh ($6,000).
- Centre County Youth Service Bureau, State College ($6,000).
- Byerschool Foundation, Philadelphia ($5,000).
- Chamber of Commerce of Greater West Chester Education Foundation, West Chester ($5,000).
- Chester County Historical Society, West Chester ($5,000).
- Crossroads Foundation, Pittsburgh ($5,000).
- Fund for the Advancement of Minorities through Education Inc., Pittsburgh ($5,000).
- Greater Philadelphia Urban Affairs Coalition/Philadelphia BAEO Scholarship Program ($5,000).
- Jump Street, Harrisburg ($5,000).
- Junior Achievement of Western Pennsylvania, Pittsburgh ($5,000).
- Philadelphia Young Playwrights, Philadelphia ($5,000).
- Scholastic Opportunity Scholarship Fund, Pittsburgh ($5,000).
- South Central Pennsylvania Educational Improvement Program Inc., Harrisburg ($5,000).
- State College Friends School, State College ($5,000).
- The Neighborhood Academy, Pittsburgh ($5,000)
- After School Activities Partnerships, Philadelphia ($4,500).
- Chester County Economic Development Foundation, Exton ($4,500).
- Harrisburg University of Science & Technology, Harrisburg ($4,500).
- Officer Daniel Boyle Scholarship Fund, Philadelphia ($3,500)
- Pittsburgh Urban Christian School Inc., Pittsburgh ($3,500).
- Valley Forge Military Academy Foundation, Wayne ($3,000).
- Watson Institute, Sewickley ($2,500).
- Penngift Foundation Inc., Elverson ($2,000).
Under the EITC plan, Pennsylvania businesses that pay any one of six taxes, including the corporate net income tax, may submit an application to the state Department of Community and Economic Development to provide grants. The businesses are then eligible for tax credits ranging from 75 percent to 90 percent of a maximum contribution of $300,000 per year. The credit is applied against a business's tax liability for the tax year in which the contribution was made. Since Verizon renewed its commitment to contribute for two consecutive tax years, it qualified for the 90 percent tax credit.
The Verizon Foundation, the philanthropic arm of Verizon, uses its technology, financial resources and partnerships to address critical social issues, with a focus on education and domestic violence prevention. In 2010, the foundation awarded nearly $67 million to nonprofit agencies in the U.S. and abroad. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered nearly 6 million hours of community service since 2000. For more information on the foundation, visit www.verizonfoundation.org.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving 94.1 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 194,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.