December 26, 2002
NAP Is Best Of Both Worlds -You Get To Give And Receive
It's better to give than receive but with the Neighborhood Assistance Program you can do both this year. Eligible donors may give a gift to the Scotland County Fitness Center and then can expect to get 70-percent of that donation back in the form of Missouri state tax credits.
For most people the first part is simple. Contact a member of the fitness center board and give them your donation or simply mail a check to the Rec/Plex itself. However some may not be as clear on how to claim your NAP credits.
How to claim the NAP tax credit for donations to the Fitness Center:
Make a donation to the Fitness Center, an NAP-designated project. This can be in several forms, but generally is a cash contribution.
Upon receipt of a contribution, you will be mailed a receipt for your charitable contribution (which is deductible on a federal return), plus an application for the Missouri NAP Tax Credit.
After the check clears for the contribution, attach a copy of the front and back of the cancelled check and return it along with the completed tax credit application to the Fitness Center. If your bank does not return your cancelled checks, a microfiche copy of the front of the check from your financial institution is acceptable.
Return the completed application along with the copy of the check, and the contribution will then be verified by the Fitness Center and they will forward the completed application and documentation to the Department of Economic Development.
The DED will send you a letter verifying the NAP donation and the amount of the eligible credit you may claim against your Missouri taxes.
It is strongly advised you consult your tax accountant immediately to see the benefits of an NAP contribution in your particular situation.
Part 2 in a 3-Part series on NAP donations to the Fitness Center.