Mansfield Community Center is seeking to begin a before and after school program and to integrate a computer lab into the facility for education and job seeking purposes. MCC has received tax credits from the Missouri Department of Economic Development through the Neighborhood Assistance Program in order to fund these much needed projects.

Keep reading to learn more.

 
     

What is the Neighborhood Assistance Program?

Administered through the Missouri Department of Economic Development, NAP is designed to assist endangered communities and their residents in the improvement of the quality of life. Assistance can be granted to a qualifying not-for-profit organization for a project if the neighborhood does not have the ability within its own resources to deal with the factors challenging its existence as a viable and stable neighborhood.

This program allows donors to redirect their Missouri tax dollars to local projects while reducing administrative and overhead costs that would have been incurred if the same program was administered by a government agency. Through this program, the Mansfield Area Community Betterment Organization has received $320,100 in tax credits. These credits equal up to 70% of the value of most contributions and all donations also qualify as a charitable contribution on your federal tax return.

  

Who is an eligible donor?

  • Corporation

  • Sole Proprietorship

  • Farm Operation

  • Individual Reporting Income on Rental Property or Royalties

  • Small Business Corporation

  • Partnership

  • Financial Institution

  • Insurance Company

  • Individual Partner in Partnership or Shareholder in a Small Corporation

  • Limited Liability Corporation / Partnership
     

An Example of a Tax Credit Donation of $1,000

(using a 28% tax bracket)

 

  1. You make a $1,000 donation to the Mansfield Community Center Health and Well-Being Program.

  2. Because of the NAP Tax Credit Program, you receive 70% Missouri Tax Credit, therefore you have reduced your real cost to $300.

  3. The Center is a non-profit organization, therefore, your $1,000 donation is qualified as a federal tax deduction, for example 28% would be a $280 deduction.

  4. Now add your $700 deduction from Missouri taxes and your $280 deduction from your federal taxes and you have received refunds of $980. Your donation has cost you only $20 ($980 worth of deductions from your $1,000 donation).

  5. Check with your tax accountant to be sure, but some donors may be able to deduct an additional percentage from their Missouri taxes. Missouri individual rate is 6%.

  6. We will use 6% for this illustration. Multiply your $1,000 donation by 6% = $60 additional refund.

Summary:

$1,000 donation

-     700 Missouri Tax Credit

-     280 Federal Tax Refund

-       60 additional Missouri Tax Refund

You could* receive $40 more in tax refunds than your donation.

* depends on the type of corporation

 

  

How will the NAP Tax Credits Be Used in Mansfield?

 

The Mansfield Community Center seeks to address the ever growing problem of childhood and adult obesity through education and physical activity through an affordable daycare program and a PE 4 Life curriculum that be utilized for youth and adult education and activities. Beyond the PE4Life curriculum, the computer lab will provide education and job search opportunities which

are not available elsewhere in this community

 

For more specific information about the proposed programs read the Health and Well-Being Program Case Summary.

 

 

For more information on the PE 4 Life curriculum visit the PE 4 Life website.

 

 

For more information on the Neighborhood Assistance Program visit the Missouri Department of Economic Development website.