You’re an integral part of the community if you own a small business in Lancaster. And, if you’re like the 90 percent of owners who say they plan to give to local nonprofits, you have a heart for the people around you. One way to show that heart—and benefit your small business—is with a charitable gift to Lancaster Dollars for Higher Learning (LDHL).
Our Lancaster, PA nonprofit provides interest-free loans to eligible local students attending accredited colleges or vocational schools. A student can receive up to four loans, which are valued at $1,700 each.
For the 2017-18 academic year, LDHL awarded nearly 600 loans to make achieving a good education possible for more students. The funds we award come from loan repayments, investment interest, and contributions from individuals and businesses.
How Your Small Business Wins When You Give
1. Giving to LDHL may offer tax breaks.
As a small business, you’re eligible to make tax-deductible donations to registered tax-exempt organizations. You can make a one-time gift or a recurring gift to provide local students with no-interest loans. One-time or accumulated contributions of $10,000 or more give you the option to lay out more specific requirements for recipients or to name the interest-free student loan.
There are specific rules that dictate how the donation should be taken on a tax return. Always talk with an experienced tax professional to find out exactly how a charitable donation will impact your small business taxes.
2. Giving to LDHL shows you’re willing to give neighbors a hand-up.
An LDHL student loan isn’t a hand-out. Rather, it’s the hand-up many students need to get the quality education that allows them to take care of themselves and their families. Because they pay no interest on the loan, a student can save hundreds or thousands of dollars in borrowing costs when compared to federal or private loans.
Students begin repayment six months after they stop attending school full time. Repayment plans are affordable, making them easy to work into students’ budgets.
When your small business gives a charitable donation to LDHL, you become part of a legacy that stretches back to 1961, when a group of forward-thinking Lancaster residents launched a program to provide interest-free loans to legal county residents seeking higher education. A business donation to our affordable student loan program shows your customers, employees, and business partners that you’re invested in helping your Lancaster neighbors succeed.
3. Giving to LDHL creates a gift that recycles itself.
The money your company contributes doesn’t disappear after the student receives the loan. When the student begins repayment, that money gets recycled into LDHL’s fund, so we can distribute it to the next round of students. The gift your small business gives now will directly impact the lives of your neighbors for years to come.
Make a difference for college and vocational students from Lancaster.
You want your small business donation to count—give to Lancaster, PA nonprofit LDHL. We’ll turn your gift into a legacy that makes college more affordable for area students. Donate now.