KeyBank Awards 21 Western Pennsylvania Organizations Through EITC Program Totaling More Than $500,000

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KeyBank (KEY) Awards Over $500,000 in Funding to 21 Western Pennsylvania Organizations Through Pennsylvania's EITC Program

PITTSBURGH, Dec. 6, 2023 /PRNewswire/ -- KeyBank announced it has awarded 21 Western Pennsylvania organizations with funding through Pennsylvania's Educational Improvement Tax Credit (EITC) program totaling more than $500,000.

Under the program, Pennsylvania allows individuals and businesses to obtain a state tax credit equal to 90% of their Pennsylvania state tax liability for eligible contributions. These contributions must be made either to schools that provide tuition assistance to students from low-income households or to approved Educational Improvement Organizations.

"At KeyBank, we believe in supporting organizations and programs that help students succeed in school and eventually graduate and have access to college and career-building opportunities," said Vic Laurenza, KeyBank's Western Pennsylvania Market President. "We appreciate the EITC program and the opportunity to give back to the organizations that are educating the next generation of leaders."

The funding from Key ranges from $20,000 to $40,000 and have been made to the following community organizations:

• Aquinas Academy
• Community Foundation of Fayette County
• Crossroads Foundation
• Extra Mile Education Foundation
• Fund for the Advancement of Minorities through Education Inc. (FAME)
• Holy Family Foundation
• Junior Achievement of Western PA
• Pittsburgh Jewish Educational Improvement Foundation
• Poise Foundation
• The School at McGuire Memorial
• Watson Institute
• Imani Christian Academy
• Lifesteps, Inc
• The Neighborhood Academy
• Washington County Community Foundation
• Angel's Place Inc.
• Greater Erie Community Action Committee
• Villa Maria Cathedral Preparatory Catholic School System
• Dr. Gertrude A. Barber National Institute
• Warren-Forest Counties Economic Opportunity Council
• Mercyhurst Preparatory School

ABOUT KEYCORP
KeyCorp's (NYSE: KEY) roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $188 billion at September 30, 2023.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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SOURCE KeyCorp

FAQ

What is the EITC program KeyBank (KEY) has awarded funding through?

KeyBank (KEY) has awarded funding through Pennsylvania's Educational Improvement Tax Credit (EITC) program.

What is the purpose of the EITC program?

The EITC program allows individuals and businesses to obtain a state tax credit for eligible contributions made to schools that provide tuition assistance to students from low-income households or to approved Educational Improvement Organizations.

How much funding has KeyBank (KEY) awarded in total?

KeyBank (KEY) has awarded over $500,000 in funding to 21 Western Pennsylvania organizations.

What is the range of funding provided by KeyBank (KEY) to the community organizations?

The funding from KeyBank (KEY) ranges from $20,000 to $40,000.

Which organizations have received funding from KeyBank (KEY)?

The organizations that have received funding from KeyBank (KEY) include Aquinas Academy, Community Foundation of Fayette County, Crossroads Foundation, and others.

What is the purpose of the EITC program according to Vic Laurenza, KeyBank's Western Pennsylvania Market President?

Vic Laurenza emphasized that the EITC program and the funding provided by KeyBank (KEY) support organizations and programs that help students succeed in school and have access to college and career-building opportunities.