Food bank says they're at risk of losing tax credit if not used by March 31 | Community Spirit
CAPE GIRARDEAU, MO (KFVS) - The Southeast Missouri Food Bank says they are at risk of losing $247,000 in tax credits, along with additional funding, if they aren't used by March 31.
Karen Green, executive director of the food bank, said in March 2010 the organization received $250,000 in Neighborhood Assistance Program tax credits from the state to issue to eligible donors.
She said the full amount of the tax credit award was originally going to be applied to a property purchase for the food bank to buy a facility, but that transaction was recently canceled resulting in tax credits going to waste if not used by March 31.
"This may be a wasted opportunity for now and the future as the Missouri Department of Economic Development may not allow us to apply for tax credits again if we don't use them this year," Green said.
Donors eligible to take part in the NAP credit program include: corporations, insurance companies, banks, partnerships, limited liability companies, farm owners and people with rental property or royalty income.
For more information, you can contact Karen Green at Southeast Missouri Food Bank at 573-651-0400.
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