Simply vote for Harold Fugate as he represents the El Do Youth Center.
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El Do Youth Center has been granted tax credits at the 70% level for 2010/2011. Your business can in most cases deduct your full donation from your federal taxes, and receive a credit of 70% of your donation from your state taxes! In some cases, this means businesses can donate and get almost all their money back!
The following information on NAP credits is designed to enlighten prospective donors of the positive economic benefits available to them through Missouri's NAP tax credit program.
In 1978, Missouri became the third state in the nation to adopt legislation creating a Neighborhood Assistance Program (NAP). Since its inception, more than 11,000 donors have given over $210 million to NAP projects, and in return, the State has given over $110 million in tax credits to those donors.
The philosophy behind the program is quite simple. Rather than funding a project by giving a grant, the State "partially reimburses" eligible donors who fund the project themselves. In effect, this enables donors to finance local projects with money they would otherwise owe on their Missouri taxes.
HOW THE PROGRAM WORKS
Unlike a direct government grant, this form of state assistance involves no transfer of dollars. Instead, El Do Youth Center assumes full responsibility for securing the desired financial support through their own fund-raising efforts, using the tax credits as an incentive. The State's role is to approve the Center's projects and process tax credits for eligible donors. The credits equal 70% of the value of most contributions and are issued in the form of "coupons" that donors may then redeem when they file their Missouri tax return.
WHO QUALIFIES FOR CREDITS
NAP CREDIT FEATURES
TYPES OF DONATIONS
El Do Youth may accept cash, materials, supplies, equipment, real estate, stocks and bonds. The allocation of credits for donations is based on the fair market value of the item(s) at the time they are donated.
To qualify for credits, a donor must make an eligible contribution to the Center. Prospective donors who have questions about their eligibility or the type of donation they are contemplating may contact the Department of Economic Development (DED) directly prior to making a contribution.
Missouri Department of Economic Development
Neighborhood Assistance Program
P.O. Box 118
Jefferson City, MO 65102
The Southwest Regional Office in Springfield, MO