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Issue: 1067 Date: 2/3/2011
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DED awards $50,000 in NAP tax credits to Crown Center for Senior Living
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ST. LOUIS - The Missouri Department of Economic Development (DED) today announced that a St. Louis not-for-profit organization has been approved for state tax credits under the Neighborhood Assistance Program (NAP).
Crown Center for Senior Living has been approved for $50,000 in NAP tax credits. Donations received as part of this NAP project will be directed to Crown Center's Healthy Aging program. Through direct care and support services, Crown Center will provide life skill seminars, transportation to essential services, social work services, crisis intervention, and professionally facilitated peer support groups to improve the quality of life and increase the ability to live independently of low-income older adults.
The DED administers the Neighborhood Assistance Program that helps not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.
Businesses can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in most rural areas.
Not-for-profit organizations participating in the NAP program conduct capital campaigns or provide services in the areas of crime prevention, education, job training, physical revitalizations, or community services. The Neighborhood Assistance Program is utilized by not-for-profit organizations throughout Missouri to make their communities a more desirable place to live and work, as well as pave the way for economic development. |
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