Roark-Sullivan Receives Neighborhood Investment Program Tax Credits
Roark-Sullivan just received notification that they have been awarded $19,250 in Tax Credits from the WV Development Office's NIP program.
The Neighborhood Investment Program (NIP) is a tax credit program of $3 million each year, which allows 501(c)3 designated charitable organizations to apply for tax credit vouchers, which began in 1996 with $2 million. When awarded, the organization can distribute the vouchers to business and individuals who contribute a minimum of $500 to organizations, receiving up to 50% in tax credit, allowing the donor or corporation to reduce their West Virginia tax liability no more than 50%. The organizations pay a 3% fee on the donation, which offsets the administrative costs of NIP. During this time, approximately 24,500 donations from individuals and businesses have been received.
So now Roark-Sullivan is in a position to secure donations of $38,500.
We would like to provide these tax credits to the donors by December 31, 2019.
Please contact Brandae to learn more and make a NIP contribution.