NEIGHBORHOOD ASSISTANCE PROGRAM (NAP) TAX CREDITS

NAP Tax Credits are an incentive that helps increase your generosity to Peter & Paul Community Services. These credits, allocated by the State of Missouri, are simple. At a minimum, you get 50 cents back from every dollar you donate when filing Missouri State Taxes. First, as with any charitable donation, you can take a federal and state charitable tax deductions. As a bonus, you can claim 50% of the donation as a credit on your Missouri State taxes. So, with a NAP Tax Credit, your gift directly benefits homeless people we serve while vastly reducing your state and federal tax liability. PPCS has been allocated a limited number of credits; please secure your credits today to ensure their availability.

WHO IS ELIGIBLE TO UTILIZE NAP TAX CREDITS?

Any person, firm or corporation with business income in the State of Missouri can take full advantage of NAP Tax Credits. Those who are eligible include: Missouri business owners, owners and operators of a Missouri farm, and those that receive income from royalties or rental property in Missouri. Additionally, corporations, financial institutions, insurance companies, individuals that operate a sole proprietorship, small business corporations (S-corps) and their partners, and limited liability companies (LLC’s) and their members are eligible.

HOW DO TAX CREDITS WORK FOR YOU AND HELP PETER & PAUL COMMUNITY SERVICES?

Example 1: These calculations are based on a donor in the 28% Federal Tax bracket.  (click image to enlarge)

Example 2: These calculations are based on a donor in the 35% Federal Tax bracket.  (click image to enlarge)

*Additional taxes may occur; The examples above are merely illustrations and do not constitute tax advice. Please contact your tax advisor to determine how the NAP Tax Credits apply to you.

GET YOUR NAP TAX CREDIT IN 5 EASY STEPS

1. Make a $500 or more contribution of cash, stock, or appreciated real estate to Peter & Paul Community Services. The agency can also accept MasterCard, VISA, and Discover. Cash and notices of stock donation should be sent to our administrative office: 2612 Wyoming Street, St. Louis, MO 63118.
2. Complete Form 770, and have notarized. Click to view/download the pdf form.
3. Once you receive the cancelled check, monthly credit card, or brokerage statement, mail a copy together with the Form 770 to our offices.
   • Your cancelled check documentation must show your name, bank name, the check #, amount, postdate, and last 4 digits of the account number.
   • Credit card statements must show your name and last 4 digits of the account number, as well as: billing cycle, date the charge was posted, name of the recipient organization, and amount of donation.
   • Stock gifts require a letter from your broker indicating your name, name of recipient organization (PPCS), name of security(ies) transferred from donor account to organization, number of shares, and date of transfer.
4. We sign your application and send the paperwork on to the Department of Economic Development in Jefferson City, MO.
5. You receive a voucher in the mail to be used for your taxes.

AFFORDABLE HOUSING ASSISTANCE PROGRAM (AHAP) TAX CREDITS

Peter & Paul Community Services has received an allocation of AHAP tax credits from The Missouri Housing Development Commission’s Affordable Housing Assistance Program (AHAP). These credits are an incentive for Missouri businesses and individuals to participate in affordable housing production. AHAP Tax Credits may be allocated to an eligible donor for up to 55 percent of the total value of an eligible donation. Donations may be in the form of cash, stock, real estate, professional services, or materials/products and must be eligible for the federal income tax charitable deduction. Credits are fully transferable and these credits may be used in the tax year of the donation or carried forward for up to ten years. To be eligible, a donor must be subject to Missouri tax from business activities performed in the state of Missouri.

Would you like more information about the NAP or AHAP programs, the tax credit application process, or PPCS? Please contact: dcottin@ppcsinc.org