PURPOSE

Provide assistance to community-based organizations that enables them to implement community or neighborhood projects in the areas of community service, education, crime prevention, job training and physical revitalization.

AUTHORIZATION

Sections 32.100 to 32.125, RSMo

ELIGIBLE AREAS

Statewide

ELIGIBLE APPLICANTS

  • Not-for-profit corporations organized under Chapter 355, RSMo;
  • Organizations holding a 501(c)(3) ruling from the IRS;
  • Missouri businesses.

ELIGIBLE DONORS

Businesses only - individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income are also eligible, as well as a shareholder in an S-corporation, a partner in a Partnership or a member of a Limited Liability Corporation.

ELIGIBILITY CRITERIA

The Department of Economic Development (DED) will issue 50% or 70% tax credits to an eligible taxpayer who makes a qualified contribution to an approved Neighborhood Assistance Program (NAP) project.

PROGRAM BENEFITS/ELIGIBLE USES

This tax credit can be applied to:

  • Ch. 143 – Income tax, excluding withholding tax
  • Ch. 147 – Corporate franchise tax
  • Ch. 148 – Bank Tax, Insurance Premium Tax, Other Financial Institution Tax
  • Ch. 153 – Express Companies Tax

This credit’s special attributes:
Carryforward 5 years

FUNDING LIMITS

The maximum amount of tax credits available is $18 million per fiscal year. The tax credits are allocated at the discretion of DED and are subject to change:

  • $12,000,000 million in 50% credits
  • $6,000,000 million in 70% credits (reserved for projects in certain lower population or unincorporated areas).

Applicant organizations may request a maximum of $250,000 in 50% tax credits per year or $350,000 in 70% tax credits per year if the organization is located in a qualifying rural area.

APPLICATION APPROVAL PROCEDURE

There is no deadline for applying. Applications are reviewed as received until funding is depleted. NAP staff is available to provide technical assistance to organizations making application to the program.

REPORTING REQUIREMENTS

Quarterly reports, final report, final audit for projects using $25,000 or more in tax credits, and 1099 reporting.

SPECIAL PROGRAM REQUIREMENTS

Preference is given to projects addressing specified program outcomes. The NAP also seeks projects located in distressed communities and in target communities as determined by the department.

CONTACT

Missouri Department of Economic Development
Division of Business and Community Services
Finance Management Team
301 West High Street, Room 770
P.O. Box 118
Jefferson City, MO 65102
Phone: 573-751-4539 - Fax: 573-522-4322
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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