NAP Credits


Missouri Neighborhood Assistance Program Tax Credits

The Northland Early Education Center (NEEC) is proud to announce that it has been chosen to receive tax credits th­rough the Missouri Department of Economic Development’s Neighborhood Assistance Program (NAP).  NAP helps not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.  Through NAP, businesses can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds.  Donations received through NAP will benefit NEEC’s Early Intervention Services program, which provides early education and therapy services for children with special needs either on-site, in fully-inclusive classrooms, or in-home.  Credits can equal 50 percent of the total amount contributed, providing a state tax savings for businesses who participate, while making a difference in the lives of children with special needs.  The highlights for this program below are offered as information and clarification:

Tax Credit Program

Eligibility

 

Neighborhood Assistance Program
Missouri Dept. of Economic Development
  • Eligible donors include corporations, financial institutions, S-Corps, LLCs, LLPs, insurance companies, and individuals who operate a partnership, sole proprietorship or farm, have rental property or royalty income
  • Not refundable or transferable
  • Offers a five-year carry-forward provision.
  • Qualifying contributions include cash, materials, supplies, equipment, professional services, labor, real estate, stocks, and bonds.

Missouri State Tax Savings Example

(Please consult with your tax professional for exact figures)

$3,000.00                       Charitable Contribution to Northland Early Education Center
<$1,500.00>                    50% Missouri NAP Tax Credit on the contribution
<$1,020.00>                    34% of your clients normal IRS Tax Deduction
<$   187.50>                    Missouri tax rate deduction
$    292.50                     Total After-Tax Cost to Donor

To receive NAP state tax credits for 2008, contributions must be received by December 30, 2008 and must be made payable to Northland Early Education Center, with NAP on the reference line. For 2009, contributions must be received by December 30, 2009, for 2010, contributions must be received by December 30, 2010 and for 2011, contributions must be received by September 30, 2011.