Jackson non-profit to receive $92,491 in tax credits under NAP | Community Spirit
JACKSON, MO (KFVS) - The Missouri Department of Economic Development announced Monday that a Jackson not-for-profit organization has been approved for state tax credits under the Neighborhood Assistance Program.
New Vision Youth and Family Services has been approved for $92,491 in NAP tax credits. The project is a part of about $4.6 million approved in tax credits in the first round of NAP applications for fiscal year 2013.
The organization will use donations received as part of this NAP project to increase the number of children served at its Hope Children's Home, an emergency shelter for children removed from their homes that provides them with a safe, family-style environment, health and wellness screenings, mental health services, and education support, as well as a foster parent training program.
The DED administers the Neighborhood Assistance Program that 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.
Businesses can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in most rural areas.
Not-for-profit organizations participating in the NAP program conduct capital campaigns or provide services in the areas of crime prevention, education, job training, physical revitalization, or community services. The Neighborhood Assistance Program is used by not-for-profit organizations throughout Missouri to make their communities a more desirable place to live and work, as well as pave the way for economic development.
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