WE HAVE TAX CREDITS FOR YOU!
The Neighborhood Assistance Program (NAP) allows Missouri taxpayers to determine where their state tax dollars will be utilized by donating to charitable organizations. Mission: St. Louis has been approved to offer $228,713 of NAP tax credits to our supporters.
Eligible donors receive a tax credit equaling 50% of your gift to Mission: St. Louis. This credit combines with your federal and state charitable income tax deduction to lower the actual net cost of your gift to cents on the dollar.
- Individuals operating a farm in Missouri
- Individuals operating a sole proprietorship
- Individuals with rental property in Missouri
- Express companies
- Financial institutions
- Insurance companies
HOW IT WORKS FOR AN INDIVIDUAL WHO ITEMIZES:
With a limited amount of tax credits to be claimed, they will go fast.
Contact Laura Kleffner at 636.368.7106 or LAURA@missionstl.org to make a donation and claim your credits!
RECEIVING & USING NAP TAX CREDITS: HOW DOES IT WORK? WHAT'S NEXT?
- Make your contribution of $1,000+ in cash, stock, property, materials, equipment or supplies to Mission: St. Louis. Be sure to indicate your desire to apply for tax credits on your donation (check or online from memo line). We will send you an acknowledgement and brief instructions on how to fill out the NAP tax credit application.
- Complete and return the notarized NAP form with proper documentation to: Mission: St. Louis, Attn: NAP Tax Credits • 3108 N Grand Blvd • St. Louis, MO 63107
- After receiving your completed form, Mission: St. Louis will mail both the application and proof of donation to the Missouri Department of Economic Development.
- You will receive a certification letter directly from the State of Missouri indicating approval within 3-4 weeks, including directions on how to redeem your tax credits.
For more information contact Laura Kleffner at 636.368.7106 or LAURA@missionstl.org
Eligible donations can be redeemed or claimed when you file your tax return.
Any remaining tax credit balance can be used during the next five years.
NAP tax credits are NOT saleable, transferable or refundable. A gift of appreciated securities would provide additional tax benefits related to avoiding capital gains. *The above calculations assume a 38% tax bracket, and that state tax is NOT deductible when calculating federal tax because new tax laws limit the state tax deduction for most individuals. Also the above scenario assumes that the federal tax is NOT deductible for state tax. Finally the above calculations assume that an individual can, in fact, itemize deductions under the new tax laws. This is not intended to represent tax advice. Please consult your tax advisor to learn how tax credits will benefit you specifically.