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Business Donations Made Before June 30th will Receive Tax Deductions

When business donations are made to benefit children with disabilities, the children win. When businesses get back 50% of their contribution, but deduct the entire amount from their taxes, the businesses win.

When business donations get back 50% of their contributions (but deduct the entire amount from their taxes) made to benefit children with disabilities, we call that a win-win.

And the Missouri Neighborhood Assistance Program tax credits is just one way that win-win is won.

The state has allocated NAP credits to nonprofit organizations such as United Services for Children, a pediatric therapy center in St. Peters. In 2014, United Services received a state allocation of $250,000 in NAP credits. United Services has $50,000 in credits remaining for contributions made no later than June 30.

If you or your company is interested, United Services will help guide you through the simple process of completing a tax credit form. United Services will then submit donor applications to the state. The remaining credits are available on a first come, first served basis, so act now.

NAP allows corporations and individuals with business income to give more generously to charities, which in turn helps charities raise private-sector funds for state-approved community projects. 

Businesses can donate cash, professional services, or stocks and bonds. The donors claim their tax credits when they file their Missouri tax returns. Credits equal 50% of the total contribution and these credits are in addition to the normal charitable deductions allowed by the state of Missouri.

NAP credits are available to corporations, shareholders, insurance companies, express companies, financial institutions, partnerships, individual partners, sole proprietorship operators, farm owners, landlords, and any person or firm with business income in Missouri.

The deadline to apply for NAP credits is June 30. Donors can start the process by calling United Services Resource Development Director Diane Wolferding at (636) 926-2700, ext. 101, or by emailing her at dwolferding@unitedsrvcs.org.

United Services for Children was founded in 1975 and provides therapy and developmental learning services to approximately 1,000 preschool-age children annually. United Services is a leader in preparing childrn of all abilities to reach their full potential.

To learn more, visit http://www.unitedsrvcs.org/
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