NAP: Neighborhood Assistance Program

7/06/15  –  DIRECTED GIVING

We now have NAP tax credits available for the 2015 – 2016 fiscal year!  Please email Program/Site Director, Judy Chesler, at VICCCcburg@verizon.net to make a donation, or call 540-951-8101.

The Virginia Neighborhood Assistance Program (NAP), administered by Virginia Department of Education (VDOE), allows individuals or businesses to receive state tax credits – equal to up to 65% of the qualified donation – for eligible contributions made to VICCC.  This means that by directing your donation to VICCC, you are directly donating to a local non-proft and can receive the applicable 65% tax credit amount directly off of your Virginia State Taxes.

You may also claim your entire charitable donation on your federal taxes.  Depending on your tax bracket, your donation may total ZERO out of pocket costs. Please contact your tax adviser with any questions regarding the tax credit offered by this program.

 

Estimated Tax Savings Individuals Businesses
Donation to VICCC $500 $1000
NAP State Tax Credit Rate 65.0% 65.0%
NAP Tax Credit ($325) ($650)
“Out of Pocket” Cost of Donation $175 $350

 

For individuals:
• $500 is the minimum donation eligible for tax credits in a taxable year.
• $125,000 is the maximum amount of donations eligible for tax credits in a taxable year.

For businesses:
• $615.39 is the minimum donation eligible for tax credits in a taxable year.
• There is no maximum donation limitation for businesses.

 

Click on the links below for more information about applying for the Virginia Neighborhood Assistance Program – Tax Credits.

NAP Donor Fact Sheet 2015

Contribution Notification Form (CNF) Instructions 2015

Contribution Notification Form (CNF) 2015

Tax Credit Percentage Agreement Form 2015

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One thought on “NAP: Neighborhood Assistance Program

  1. Pingback: Recharge your charitable giving…NAP with VICCC! | VICCC

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