For more than 20 years, $7.6 billion-asset Tompkins Community Bank in Ithaca, N.Y., has served a special role in Pennsylvania’s Educational Improvement Tax Credit (EITC) program. The program encourages businesses to support organizations that help children, especially youth educational programs.
“Participating in EITC is a way we can direct tax dollars to positively impact children where we live and work,” says Ginger Kunkel, president of the community bank’s Pennsylvania market. Tompkins has thrown its weight behind the EITC program, contributing more than $3.7 million over the years and reaching more than 51 local programs statewide. In 2022–2023 alone, it committed to donating $332,000 to EITC initiatives.
“Having participated in the EITC program since 2001, we have been a long-time supporter of the program,” Kunkel says. Getting involved in this state-sponsored match-funding program has allowed Tompkins to reallocate a portion of its Pennsylvania Shares taxes into the EITC program, thereby directing specific funding to eligible charitable organizations that provide youth education in the bank’s local areas.
“To know that our tax dollars can be directed toward local programs that benefit area children is something that we are very proud and very grateful to be a part of.”—Ginger Kunkel, Tompkins Community Bank
“EITC donations represent a combination of tax dollars matched with a 10% contribution made by the bank,” says Kunkel. “We also participate in the associated Opportunity Scholarship Tax Credit Program [OSTC], which provides scholarships for students to receive special education at eligible K–12 private and charter schools.”
How did the bank initially get involved in EITC? “We are always looking for ways in which we can expand, deepen or strengthen our impact in the communities we serve,” Kunkel says. “When we learned of the opportunity that the EITC and OSTC programs provide, we wasted no time getting involved. To know that our tax dollars can be directed toward local programs that benefit area children is something that we are very proud and very grateful to be a part of.”
Funding community causes
Some of the more recent programs that Tompkins Community Bank has supported include the Olivet Boys & Girls Club and the Girl Scouts of Eastern Pennsylvania.
Another is the Settlement Music School, one of the nation’s oldest and largest community schools, which provides education in music, dance and the creative arts. By supplying financial aid to more than 60% of its student population, the school can ensure that arts education is accessible to all.
Tompkins also supports Elmwood Park Zoo in Norristown, Pa., which is almost a century old. Its parent company’s mission is to foster an appreciation for wildlife and an environment that will inspire active participation in conservation.
The community bank’s EITC funds also go toward the St. Joseph Center for Special Learning, Inc. “The Educational Improvement Tax Credit program has been a game changer for St. Joseph Center for Special Learning,” says Monica Walborn, director of development for the school. “Over 75% of our students at SJC rely on scholarships to be able to attend our school. Many parents have the desire for their children to attend St. Joseph Center for Special Learning but cannot afford the tuition. Donations to the EITC program allow them to do so and support those students and families that need it most.”
Long-term plans for giving
Given the history of success for the program, Tompkins Community Bank doesn’t plan on stopping anytime soon. “We have participated in the EITC program since long before I became the Pennsylvania market president, and it is my intention to continue our participation long into the future,” says Kunkel. “The program is perfectly aligned with our commitment to give back to our community and provides us the incredible opportunity each year to support myriad children’s programs in all areas, from music to art to STEM and special education.”
Not only do the bank’s EITC donations benefit youth-related organizations; they also help Tompkins fulfill its mission to serve its community. “Tompkins places a high value on community engagement and service,” Kunkel says. “It is a core tenet of the bank’s guiding principles and a central part of the work we do each day.”
Tompkins recognizes and appreciates the impact it has on its served communities and the bank itself. “As a community bank, we have the unique privilege of living where we work, and we take pride in our responsibility to align our corporate efforts with community needs,” says Kunkel. “Participating in this program has helped us to expand our efforts in this area, reaching more organizations across our community each year and ensuring we’re able to help support the leaders of tomorrow.”
