NEIGHBORHOOD ASSISTANCE PROGRAM

WHAT IS NAP? Neighborhood Assistance Program (NAP) offers up to $2.5 million in tax credits annually for distribution by 501©3 not-for- profit corporations. Indiana State Code establishes the NAP Program. NAP gives the donor incentive to contribute to an organization by giving a tax credit on their state income taxes for exactly 50% of the donation amount

GOALS OF NAP Provide organizations with a tool to increase charitable contributions & build donor base Provide Indiana citizens & businesses an incentive to contribute to not-for-profit corporations. Serve as a creative way to improve the standard of living & quality of life for all Hoosiers.

CONTRIBUTION POLICY ELIGIBILITY Eligible Donors Any person, business, or organization that has an Indiana state income tax liability The Credits are applied to the tax liability of the Contributors Example: XYZ Company donates $5000; XYZ Company receives credits, NOT the owners or the shareholders of XYZ company IF, XYZ Company wants to provide their owners, shareholders, etc…with credits, they will need to provide each persons name, SSN, and amount of contribution

CONTRIBUTION POLICY DONATIONS Tax credits = 50% of contribution amount Minimum Donation = $100* Maximum Donation (per calendar year) = $50,000 Donations begin July 1, 2011 and end June 10, 2012 Calendar year that contribution was given * Unless remaining credits is less than $50

CONTRIBUTION POLICY Eligible Contributions Cash Check Credit card Stock (that has been sold) United Way Designations (amount received) Property (must be used for NAP activity) In-Kind donations (limited to building materials only)

AWARD TERM Award Term = 24 Months (Ex:July 1, 2010 – June 30, 2012) By 6/30/11 (Year 1)-100% tax credits must be sold By 6/30/12 (Year 2)-Project must be completed & all donations leveraged from NAP award must have been spent

ELIGIBLE ACTIVITIES HOUSING Affordable Housing Construction Affordable Housing Rehabilitation Community Revitalization Emergency Shelter Housing Energy Efficiency Projects Aging in Place Projects Ending Homelessness Projects COMMUNITY SERVICES Child Care Services Counseling Services Educational Assistance Emergency Food Assistance Job Training Medical Care Services Recreational Facility Transportation Services Comprehensive Community Development Projects

QUESTIONS? NAP Policy is on IHCDA Web site: Thank you for attending. Questions