The Good Samaritan Center of Excelsior Springs has approximately $150,000 in Neighborhood Assistance Program tax credits. The Good Samaritan Center will use the funding to help local residents obtain and keep jobs, advance their education and improve their quality of life.
What is NAP?
NAP is the program of state tax credits for businesses and individuals that contribute money or other resources to projects which help Missouri’s communities.
NAP offers businesses the choice of contributing to programs within their own communities … a choice in how their tax dollars are spent.
We have $150,000 in available NAP credit donations at the 50 percent rate. Our performance targets are organizing and hosting four job fairs, giving situation-specific support to help people obtain a job; giving underemployed people adjunct employment needs that will allow them to retain their job, providing GED classes; helping people on fixed or sub-standard income with resources to cover their basic needs and offering conflict resolution classes to strengthen interpersonal skills.
Eligible businesses include all corporations, partnerships, individual partners, sole proprietorships, Subchapter S corporations and their shareholders, banks, credit institutions, savings and loan associations, credit unions, farmer’s cooperative credit associations, building and loan associations, insurance companies, and individuals with rent royalty or farm income.
What will the contribution “cost”?
In general, the “cost” of a contribution to a NAP organization is less than the cost of a conventional charitable contribution because of the state tax credit.
The Missouri Tax Credit benefits do not eliminate standard federal deductions for charitable contributions.
The Good Samaritan Center currently offers 50 percent of the value of a contribution as a credit on the business’ state tax. For example, a business making a contribution of $10,000 will receive the regular Federal tax credits and $5,000 in Missouri tax credits.
A credit not used in the first year can be carried forward as many as five years.
What is the process?
Make a contribution to GSC.
You will be mailed an application which requires proof on the contribution, eligibility of business, and a notarization statement. Return this to the Center and we will handle submission to the state.
In 3-4 weeks the Department of Economic Development will send you your tax credit authorization statement to be used in preparing income tax returns.
What contributions are eligible?
GSC accepts contributions in the form of cash, public stocks and bonds.
Ready for more information? Call Martha Buckman at the Center, 816-630-2718, extension 28.