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Pre-K scholarship program benefits local families

Published April 05. 2010 05:00PM

RBC Capital Markets announced this week a $15,000 donation to qualified families of Carbon County.

The donation will make a difference for families who send their children to Little Angels Preschool in Lansford.

RBC Capital Markets participates in one of the state's best and most original programs, Pennsylvania's Educational Improvement Tax Credit (EITC) Program, by working with the Bridge Educational Foundation. The Foundation has made a difference in the lives of more than 4,500 Pennsylvania families with students in over 370 schools spread across 48 counties.

Henry Sallusti of RBC Capital Markets was joined by Speaker of the House, Keith McCall, to announce the awards to the Lansford school. Teachers, families and students attended to support the EITC Program and to thank RBC for its tuition assistance, and the local elected officials for their support of the EITC Program.

"The strong advocates of the EITC Program that we have represented here today have had a real and positive impact on Pennsylvania families," said Joseph Gerdes of the Bridge Educational Foundation. "Bridge Educational Foundation is proud to stand before you today with RBC Capital Markets, Speaker of the House, Keith McCall, and State Senator Raphael Musto to announce these scholarship awards. We are truly bridging the gap between community partners like the ones here today and Carbon County families."

"Realizing the importance of education on our children's future, RBC Capital Markets continually focuses on promoting educational programs for children in the communities in which we do business across the U.S.," said Henry Sallusti of RBC Capital Markets and also a Bridge Educational Foundation Board Member. "And, over the past four years, we are proud to have donated scholarships to many families throughout the Commonwealth of Pennsylvania toward local Pre-K and K-12 education through the EITC Program."

"When it comes to making a difference for children and families in Carbon County, the EITC program is a proven winner," Rep. McCall said. "It's the perfect connection of concerned parents, great corporate citizens and the future of our region and state and I hope we see this program thriving for a long time to come."

"The EITC initiatives provide tax credits to companies contributing funds to scholarship organizations, for both pre-K and in the upper grades," Senator Musto said. "The contribution being made by RBC Capital Market to the Bridge Educational Foundation in Carbon County will help many families with young children. I am very proud of, and thankful for, this participation of RBC Capital Markets and the Bridge Educational Foundation in the welfare of our Carbon County community."

Joseph Gerdes of the Bridge Educational Foundation concluded the program.

"Bridge Educational Foundation serves as the bridge between generous businesses like RBC Capital Markets and Pennsylvania families," he said. "We are pleased be a part of one of the most innovative and successful education programs in the county. Our partnerships with forward-thinking corporations make it possible to help thousands of families each year with tuition aid."

The scholarship donations are part of the Pennsylvania Pre-Kindergarten EITC Program. The Pre-Kindergarten initiative provides companies with a tax credit equal to 100 percent of the first $10,000 contributed to a pre-kindergarten scholarship organization during the taxable year, and may receive a tax credit equal to 90 percent of any additional amount contributed during the year, up to a maximum of $150,000 per year.

For information on how to request scholarship funding please visit and click on the scholarship tab.

Bridge Educational Foundation is a scholarship organization recognized as an approved 501(c)3 not-for-profit organization and was established under the Educational Improvement Tax Credit program of the Commonwealth of Pennsylvania. The Foundation's core mission is to partner families and schools with Pennsylvania businesses to provide scholarship opportunities throughout Pennsylvania.

Based in Harrisburg, PA, Bridge Educational Foundation is currently one of the largest and most innovative scholarship organizations of its kind, raising more than $10 million to provide educational opportunities for low income families statewide.

RBC Capital Markets is a worldwide investment banking, sales and trading group that includes one of the leading municipal finance organizations in the U.S. It has consistently been one of Pennsylvania's top municipal finance firms.

RBC Capital Markets is ranked #1 nationally for underwriting K-12 financings on the basis of principal amount underwritten, and #1 based on the total number of issues underwritten. In 2009, RBC Capital Markets completed 216 transactions for K-12 institutions, with a total par amount of $5.348 billion.

RBC Capital Markets was ranked #1 senior manager of K-12 negotiated issues in Pennsylvania in seven of the last eight years, including 2009. Over the past four years, its Pennsylvania offices have donated to many schools throughout the Commonwealth toward local PREK & K-12 education, athletic and other support programs.

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