Second Harvest Food Bank of East Central Indiana has been awarded $18,100 in Neighborhood Assistance Credits (NAP) for the 2012-2013 tax years. NAP tax credits are used as an incentive to help them leverage more contributions from individuals and businesses for certain neighborhood-based programs and projects. Tax credits are distributed to donors at 50% of the contribution amount and are subtracted from a donor's state income tax liability.
Your donation may be by check, credit card, or transfer of stock. To receive credits for your donation write NAP in the memo line of your check. Once your Form NC-10 and donation are received Second Harvest Food Bank of East Central Indiana will report the information to the Indiana Housing and Community Development Authority for processing. You are not required to file any paperwork with your Indiana State taxes to claim your credit. The Indiana Department of Revenue will have your tax credit information on file. Credits are distributed on a first come first serve basis until all credits are sold. Limited quantities are available. Contact Tammy Heavenridge, (765) 287-8698 x100 for more information on the NAP Program.
1. Contribution Dates
a. 2012 Tax Year Qualifying Donation Dates
i. July 1, 2012 thru December 31, 2012
b. 2013 Tax Year Qualifying Donation Dates
i. January 1, 2013 thru May 31, 2013
2. Minimum Donation Policy
a. All contributions from an individual donor must add up to over $100 in order to receive a tax credit.
b. If a donor is contributing several small donations to add up to an amount greater than the minimum contribution and would like to receive tax credits:
i. It is acceptable for donations to occur in different quarters. HOWEVER, it is NOT acceptable to group together contributions that are made in different calendar years.
1. Contributions from Couples
a. If a couple files a joint tax return, please lis only the name and social security number of the head of household on the NC-10 Form.
b. If a couple does not file a joint tax return, the name and social security number of the donor whose tax return the credit should be tied to must be shown on the NC-10 Form.
The Neighborhood Assistance Program offers $2.5 million in tax credits annually for distribution by not-for-profit corporations. Organizations use Eligible projects include affordable housing, counseling, child-care, educational assistance, emergency assistance, job training, medical care, recreational facilities, downtown rehabilitation, and neighborhood commercial revitalization. All projects must benefit economically disadvantaged areas and/or persons. The NAP program follows the state fiscal year from July 1 to June 30.