First Resource Bank recently donated $260,000 to local schools and organizations under Pennsylvania’s Educational Improvement Tax Credit (EITC) program. 

This is the bank’s 12th year participating in the program, which allows qualified businesses to transform tax dollars into scholarships and educational improvement opportunities, providing greater support for local students in need. Since 2011, First Resource Bank has contributed $1.9 million through Pennsylvania’s EITC program and will support 37 different schools and organizations in Chester and Delaware Counties this year alone.  

“When we make an educational investment in our community, we are making an investment in our future,” said Lauren Ranalli, Bank President and CFO. “One day the beneficiaries of these funds will run our community. It is our responsibility to equip them with the tools and knowledge they need to succeed.”  

In addition to contributing to several school district education foundations, the bank has taken a particular interest in supporting a number of organizations offering after school programs and educational opportunities for youth. Research indicates that with the help of these quality programs students achieve greater educational success; they are more likely to graduate high school, less likely to engage in risky behaviors, and achievement gaps for low-income students greatly diminishes.

Some of the programs the Bank has chosen to support this year include The Garage and Youth Center, Chester County Futures, Coatesville Youth Initiative, The Melton Center, Parkesburg Point, Philly ASAP, The Wayne Art Center, West Side Community Center, and Youth Mentoring Partnerships.  

“The bank’s EITC donation provides us with the opportunity to offer creative and innovative STEM education for our students,” said Ryan Enns, Executive Director of West Side Community Center. “It is because of First Resource Bank that students eyes are opened and that they are able to dream about future possibilities.”

Learn more about First Resource Bank.