NEIGHBORHOOD ASSISTANCE PROGRAM (NAP) Award Training

Agenda  Community Development Staff (see Map)  Program Trends  Contribution Policy Requirements  Semi-annual Reporting Forms  De & Re-allocation  Modification Procedures  Close-out Procedures

Program Trends  $2,500, credits awarded annually  177 applications received totaling $5.84 million requested tax credits  172 applications awarded  Housing activities: received 50% of request  Other Community Development activities: received 41.6% of request

Program Trends Funding Summary Average Award Amount14,546.78$ Median Award Amount$ 14, % of Applications Receiving Allocation97.18% AWARD SUMMARY Tax Credits Available 2,500,000.00$ Eligible Tax Credit Requests$ ALLOCATION RATE 5,842, %

Program Trends # of Organizations Applied # of Allocated Organizations Funded Amount of Allocated Tax Credits Average Award Amount Affordable Housing30 $469,000.00$15, Counseling3230$456,197.10$15, Medical Care24 $326,166.74$13, Emergency Shelter17 $302,687.50$17, Child Care15 $221,089.40$14, Emergency Food Assistance 14 $219,769.40$15, Educational Assistance1918$207,971.90$11, Recreational Facility12 $167,565.14$13, Job Training44$70,815.26$17, Transportation Services 77$48, , Downtown Revitalization 21$10, TOTAL:177172$2,500,000.00$14,534.88

Contribution Policy Eligibility  Eligible Donors  Any person, business, or organization that has an Indiana income tax liability

Contribution Policy  Eligible Contributions  Cash  Check  Credit card  Stock (that has been sold)  United Way Designations  Property (that will be used for NAP activity)  In-Kind donations (limited to building materials)

Contribution Policy Donations  Tax credits = 50% of contribution amount  Calendar year that contribution was given  Minimum Donation = $100  Maximum Donation (per calendar year) = $50,000  Donations begin July 1, 2008 and end June 5, 2009

Contribution Policy Tax Credit Limits  Minimum Tax credit: $50  Maximum Tax credit (per calendar year): $25,000

Contribution Policy Minimum donation  If donor contributes several small donations that add up to an amount greater than minimum contribution :  All contributions must be turned in to IHCDA at the same time  Grouped contributions must be in same calendar year  List only the last date of the multiple contribution dates on the NC-10 form, short form and spreadsheet

Contribution Policy  Ineligible Contributions  Services and/or Labor (No Sweat Equity)  Supplies  Equipment  Non-stationary building materials

Semi-Annual Reporting (2 reports per program year)  Expenditure and Reporting Requirements Mid-year Report (1 st & 2 nd quarters) January 9, 2009 Year-End Report (3 rd & 4 th quarters) June 5, 2009 Contact your Community Development Representative immediately if problems arise.

Semi-Annual Reporting  Recipient must turn in an electronic copy of report and corresponding short forms by each deadline  If unable to meet deadline recipient must contact IHCDA rep. prior to deadline to avoid penalty  Failing to meet either deadline for semi-annual reporting will result in ineligibility for NAP in program year

Semi-annual Reporting  IHCDA will assist Recipients in meeting deadline by: 1. Sending reminder of Semi-annual Report Deadlines 2. Sending update to organizations that did not submit Semi-annual Reports 3. Providing performance report at the end of Program Year

Semi-annual Reporting Reporting Forms NC-10 Form and Short Form  Identifies the donor and ensures correct account receives the tax credit  Complete for all donations that receive a NAP tax credit  Both the organization and donor completes  Short form added to ensure confidentiality

Semi-Annual Reporting NAP Spreadsheet  Lists all donor names, addresses and amounts  Determining contribution dates – see manual  Where do we send all the forms?  To IHCDA: Spreadsheet saved on CD-Rom Short Forms  To IN Dep’t of Revenue (DOR): NC-10 Forms DOR Address – Indiana Department of Revenue Tax Administration – Support Division 100 N. Senate Ave. – Room N203 Indianapolis, Indiana 46204

Semi-annual Reporting  IHCDA reviews Spreadsheet and Short Forms  Organizations will be contacted to resolve any discrepancies between short forms and spreadsheets. ALL INFO. ON BOTH MUST BE IDENTICAL!  IHCDA uploads spreadsheets to the Dept. of Revenue.  DOR generates NC-20 Form (within 7-10 business days of receipt)

Tax Credit De-Allocation  De-Allocation Policy  Must meet utilization requirements 60% - mid year 100% - year end  De-allocated up to utilization requirements

Tax Credit Re-Allocation  Requirements:  Utilized 100% of original award amount  Report submitted by Re-allocation deadline  Optional for agencies that want to become eligible for a re-allocation  Tax credits available for re-allocation divided among all organizations who meet requirements  Receives up to Application Tax Credit Request

Tax Credit Re-allocation  By October 3, 2008:  100% of tax credits sold  Short forms and electronic spreadsheet submitted to IHCDA  Tax credits will be re-allocated after all Mid-year reports have been received  Designed to be a competitive process  Re-allocated agencies will be expected to meet same expenditure rates as originally outlined in their award agreement

Other Procedures  Modifications  Close-Out  Submitted at time of activity completion via mail  Requires original signature by authorized signatory  No later than June 30, 2010

Conclusion Implementation Manual online at: