Hamlin Bank andTrust Co. of Smethport has made a $100,000 contribution to Pitt-Bradford that will allow more high school students to take
advantage of a program that allows them to earn college credit at minimal cost.
The contribution is the second part
of a two-year $200,000 commitment the bank made to Pitt-Bradford last year. It
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 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 has allowed
Pitt-Bradford to increase participation across more school districts in the
In the BRIDGES program, high school students
attend Pitt-Bradford classes on campus with regular
college students. In College in the High School, which Pitt-Bradford now offers
high schools throughout the region, qualified teachers teach Pitt-Bradford
courses during regular school time, and students are able to earn college
Contributions provided last
year through Hamlin Bank and other local businesses allowed Pitt-Bradford to
add new districts to the College in the High School program this fall,
including Brookville, Forest, Kane, Port Allegany, Oil City, Johnsonburg and
three more high schools in the Warren Area School District.
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 offer the classes
for $25 each.
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 the 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 $750,000 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 firstname.lastname@example.org.