INRC has been awarded Neighborhood Assistance Credit (NAP credits) for the 2017-2018 grant year. Total NAP credits available for 2017 are $4,128.00.
What is NAP?
NAP credits allow a donor to INRC to receive state tax credits to their state tax liability at 50% of the donation. For example: for your donation of $1,000, your donation write off on your state taxes would be $500 in direct credit to your total state tax liability.
NAP Credit State Requirements: Only minimum donations of $100 qualify and no more than $50,000 can be donated towards the NAP credits in the fiscal year.
Interested in NAP credits? Email Jennifer Coffey, Director of Development, firstname.lastname@example.org.
What are Neighborhood Assistance Program (NAP) Tax Credits?
NAP is a program of the State of Indiana, administered by the Indiana Housing and Community Development Authority (IHCDA). Each year, NAP offers $2.5 million in tax credits for distribution to 501(c)(3) not-for-profit organizations across Indiana. As an awardee/recipient of NAP tax credits, INRC is utilizing the credits as a fundraising tool to help us leverage additional contributions from individuals and organizations to support our programs that support Indianapolis neighborhoods, grassroots leaders and not-for-profits.
How do NAP Tax Credits work?
When a donor purchases credits, they receive a tax credit toward their Indiana state income tax liability valued at 50% of the amount of their purchase. The donor receives this credit when filing their Indiana state tax return. Donors may also be eligible to claim the amount of the gift as a tax deduction on an itemized federal income tax return, extending the savings even further.
Who is eligible to be a donor and make a contribution?
Any individual or business with Indiana income tax liability may purchase up to $25,000 in NAP credits per fiscal year (a $50,000 donation).
How do I make a donation?
The process is simple! Call to make a donation by check or go online! Donations can be made to INRC by check or credit card. Donations can be made online at https://donate.inrc.org/.
Is there a deadline?
Yes! 2017 NAP credits must be sold by Sunday, December 31, 2017.
How does a donor redeem NAP tax credits?
After donating to INRC, we will send you a thank you letter and a completed from, specifying the amount of your donation that is eligible for NAP credits, which you should keep and include with your state tax returns. You will need to file a Schedule 6 with your return. When completing the Schedule 6, the donor will cite the “Neighborhood Assistance Credit” and use the tax credit code 828.