Attention Missouri Businesses:

TAX CREDITS FOR CHARITABLE DONATIONS

The Franciscan Connection is a small, storefront outreach center located in the old business district along Cherokee Street.Since 1991, it has been providing financial assistance and emergency help to needy families in South St. Louis.

The center was recently approved by the State of Missouri to offer up to $20,000 in tax credits as incentives to involve more businesses and individuals with business income in its neighborhood stabilization efforts.  The Neighborhood Assistance Program (NAP) is an excellent way for local business people to DOUBLE the impact of their charitable contributions and to target not-for-profit programs in their own community.

NAP donations will help to expand and enhance the Franciscan Connection’s services to senior citizens and other low-income families in need of minor home repairs. The minimum eligible donation for this program is $100.

How does it work?

For example, an eligible donor makes a gift of $1000 to the Franciscan Connection and receives back $500 in the form of tax credits. At tax time, the donor uses these tax credits as vouchers to pay off his or her Missouri tax liability. In addition, portions of the donation may be eligible for state and federal deductions as charitable contributions. NAP allows the donor the balance of the current state fiscal year plus five years to use the tax credits.

Who can apply?

In general, anyone who is required to fill out a Schedule C, E or F as part of his or her federal income tax filing is eligible for these tax credits. Partners in a partnership, shareholders in an S-Corp, or partners in a Limited Liability Company can apply. Financial institutions, insurance companies, sole proprietorships, and other small business corporations may also qualify. Even individuals who have rental property, farm or royalty income are eligible for these tax credits.

How does a corporation or individual make a contribution?

The application process is relatively simple, but the Franciscan Connection has a limited number of tax credits available. It is best to contact our office to reserve the tax credits for you before you give. For more information or to see if your contribution is eligible, contact Bro. Donald, Home Maintenance Coordinator, at (314) 773-8485 or by email at FranciscanConnection@thefriars.org.