Hamlin Bank and
Trust Co. of Smethport has made a $200,000 commitment to Pitt-Bradford that will allow more high school students to take
advantage of a program that allows them to earn college credit.
The contribution is made possible
through the Educational Improvement Tax Credit program offered by the
Pennsylvania Department of Community and Economic Development. The funds will
be distributed to Pitt-Bradford over a two-year period.
Pitt-Bradford has two kinds of
programs in which students can earn both high school and college credits for
the same course, College in the High School and Bridges. Hamlin Bank’s
contribution will allow Pitt-Bradford to increase participation across more
school districts in the region.
Dr. Livingston Alexander, president
of Pitt-Bradford, said, “Our friends at Hamlin Bank are longtime supporters of
Pitt-Bradford and its efforts to provide educational opportunities for students
in our service region. This generous tax credit award will ensure that a
significantly greater number of students in our region are able to get a head
start in earning college credits, even as they complete their high school
districts with 466 students currently participate in the College in the High
School program: Austin Area, Bradford Area, Cameron County, Coudersport Area,
Galeton Area, Northern Potter, Oswayo Valley, Otto-Eldred, Ridgway Area,
Smethport Area and St. Marys Area. Sheffield Area Middle/High School is taking
part for the first time this year.
the Advanced Placement exam, which requires that students make a final score on
an AP test at the end of the semester or year, College in the High School
students follow the same syllabus as the students at Pitt-Bradford, cover the
same material and take the same final exam. Students have the added benefit of
studying a semester’s worth of college material over the course of an entire
offered range from first-year math and composition to more specialized
first-year courses such as petroleum technology, cinema, geography, Spanish,
accounting, sociology and more.
The additional funding provided
through Hamlin Bank and other local businesses has allowed Pitt-Bradford to
reduce its cost to students from $125 to $25 this year for College in the High
School. For the Bridges program, the regular cost of $1,594 has been reduced to
$250 for the student, and his or her school district’s portion has been
Bank is a state-chartered commercial bank and offers a variety of financial and
trust services. Established in 1863, Hamlin Bank was the first bank to serve
the communities of McKean County.
bank made its contribution through a special state program that allows it to
receive tax credits for its gift. Companies have to pre-qualify with the state
on a strict schedule, as did Pitt-Bradford.
businesses that must pay certain types of taxes in the state of Pennsylvania
may qualify to redirect up to $300,000 of their PA tax liability to an approved
Educational Improvement Organization such as Pitt-Bradford. The taxes include
Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company
Shares Tax, Title Insurance Company Shares Tax, Insurance Premiums Tax, Mutual
Thrift Institutions Tax and some Subchapter S-corporations.
more information on whether a business may qualify for the Educational
Improvement Tax Credit Program, contact Rick Esch, vice president of business
affairs at Pitt-Bradford, at (814)362-0992 or email@example.com.