Lauren Ranalli, President and CFO of First Resource Bank, visited the Great Valley School District Friday, Nov 5, to present a check to its Education Foundation (GVSDEF). The $5,000 EITC donation will support the Foundation’s efforts to fund educational opportunities that connect with GVSD students and promote innovative possibilities that inspire them.

“First Resource Bank is proud to support the Great Valley School District Education Foundation in their mission to inspire students through enrichment activities that are not otherwise available to students throughout the district,” says Ranalli. “We are grateful to the teachers and administrators that can turn this funding into real world experiences for students.”

Through the PA Educational Improvement Tax Credit (EITC), a business can redirect its tax liability by donating to an eligible Educational Improvement Organization (EIO), like the Great Valley School District Education Foundation.

Tax credits are applied against a businesses’ state tax liability for the year in which the donation is made. Businesses that commit for two years get a 90 percent credit. The credit is 75 percent of the donation amount for a one-year commitment by the business.

“We are grateful for a partnership with GVSDEF that opens opportunities for our local businesses to contribute to our schools. When these kinds of collaborative partnerships happen, they strengthen not only our schools, but also our community. We thank First Resource Bank for their generous contribution and for their support of students and learning in Great Valley,” commented Superintendent Dan Goffredo.

More about GVSDEF is online.