Receive Tax Credits for Your Donation!
Are you a business owner or someone that pays Missouri state income taxes? Healing Action has been approved to offer Neighborhood Assistance Program (NAP) tax credits to our supporters who make a donation of $1,000 or more.
Who Qualifies?
If you pay taxes on business income, you are eligible for NAP tax credits. This includes:
- Corporations
- Farm Operations
- Financial Institutions
- S-Corporations
- Individual Reporting Income from Rental Property or Royalties
- Insurance Companies
- LLCs
- Partnerships
- Sole Proprietorships
Your Benefit
| Donation Amount | $5,000 | $10,000 | $25,000 | $50,000 |
|---|---|---|---|---|
| MO Tax Credit (50% of Gift) |
$5,000 | $10,000 | $25,000 | $50,000 |
| Federal Income Tax Deduction (Based on 28% tax bracket) |
($700) | ($1,400) | ($3,500) | ($7,000) |
| State Income tax savings (assume 6%) |
($150) | ($300) | ($750) | ($1,500) |
| Total net savings | $3,350 | $6,700 | $16,750 | $33,500 |
| Your out-of-pocket cost | $1,650 | $3,300 | $8,250 | $16,500 |
This example does not represent tax advice and is for illustrative purposes. It also assumes that an individual can itemize deductions under tax laws. Please consult your tax advisor to learn how tax credits will benefit you specifically.
What’s Next?
After you make your gift of $1,000 or more in cash, stocks, or bonds – reach out to us so we can start the process of helping you claim your tax credits!
1. Make your donation of $1,000 or more. In the Dedication line, indicate NAP Tax credits.
2. After you make your donation, email info@healingaction.org and request a tax credit application form. We will send you the form along with instructions and your acknowledgement letter.
3. Complete the form and with the requested documentation and return it to: Healing Action, ATTN: NAP Credits, PO Box 39429, Saint Louis, MO 63139
4. After receiving your form, Healing Action will mail your application and proof of donation to the Missouri Department of Economic Development.
5. You will receive a certification letter directly from the State of Missouri indicating approval within 3-4 weeks, including instructions on how to redeem your tax credits.
Our tax credits are limited and will go quickly. For more information, reach out to info@healingaction.org.
