Mid Penn Bank donated $7,500 to MMI Preparatory School through the Educational Improvement Tax Credit (EITC) Scholarship program.
MMI Director of Advancement Kim McNulty said, “We are grateful to all of our donors, and especially to Mid Penn Bank for this very generous scholarship gift. The EITC program and the Opportunity Scholarship Tax Credit Program (OSTC) give companies an annual opportunity to put their business’ tax dollars to work in their own community. This academic year, 55.5 percent of our students received need-based tuition assistance, so contributions like this help area students have the opportunity to obtain an MMI education.”
“Mid Penn Bank prides itself on being a true community bank,” said Mid Penn Bank Vice President and Commercial Loan Officer, Luci Kulish. “We are committed to investing in and helping enrich the many communities we serve. Access to innovative learning opportunities and programs is so important for young students and helps our communities thrive.”
Since 1868, Mid Penn Bank has remained committed to serving the local community and providing comprehensive financial solutions. Originally founded in Millersburg, Pennsylvania, Mid Penn has expanded over the years to become a full-service financial institution operating in 12 Pennsylvania counties. As a community bank, Mid Penn is dedicated to supporting a variety of organizations and causes through donations and employee volunteerism. In 2020, Mid Penn Bank made $1.59 million in charitable contributions to the community; $830,000 of which was directed to education-focused organizations.
The EITC and OSTC (Opportunity Scholarship Tax Credit) programs allow a business to send up to 90% of its annual PA tax debt to MMI for scholarships and only pay the Commonwealth of Pennsylvania 10%. A portion of the gift can be claimed on the business's federal tax return as a charitable gift.