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Neighborhood Assistance Program Tax Credits

The Children's Center is now a registered member of the Neighborhood Assistance Program.

Established in 1981, the Neighborhood Assistance Program (NAP) works to encourage businesses and individuals to make donations to NAP-approved non-profit organizations for the benefit of serving low-income persons.

Qualified donations made directly to approved organizations may be eligible for NAP Tax Credits. NAP tax credits are issued for a percentage of the total donation value.

QUALIFYING DONATIONS

Several different donations qualify for the NAP Tax Credit:

Business Donations

Business donations can be cash or donated services. Cash donations and donated services must be a minimum value of $616. The following donated services are eligible for the tax credit:

Professional Services

Includes accounting, actuarial services, architecture, land surveying, law, dentistry, medicine, optometry, pharmacy, professional engineering, veterinarian. For time spent by the proprietor or partner, the hourly rate is the reasonable customary rate not to exceed $125 per hour. For time spent by an employee, the hourly rate is equal to the salary the employee is paid (excludes overhead and fringe benefits).

Contracting Services

Includes development, construction, renovation, and repair. A business firm licensed by the state of Virginia as a contractor may receive tax credits for providing contracting services. For time spent by the proprietor or partner, the hourly rate is the reasonable customary rate not to exceed $50 per hour. For time spent by an employee, the hourly rate is equal to the salary the employee is paid (excludes overhead and fringe benefits).

Individual Donations

Individual donations can be made by cash, check or credit card and must be $500 or more to qualify for a tax credit.

Trust Donations

Trust donations must follow all business donation rules. The minimum donation value is $616.

Donated Merchandise

The value of merchandise and goods donated must be determined in accordance with IRS Standards (Publication 561). Real estate donations require a copy of the current appraisal by a licensed appraiser and a copy of the recorded deed of transfer.  

 

For more information, contact Jeff Zeigler at 562-6806