Missouri Tax Credits Available at First Chance!

Big time NAP-enings at First Chance for Children

Serving families with young children in the best way we can means keeping First Chance for Children (FC4C) financially secure in the years to come. To this end, we’re happy to announce that we can now offer Missouri state tax credits of up to 50% for business donors able to contribute $500 or more.

Thanks to the hard work of our professional staff at FC4C, the state of Missouri in July approved us for participation in the Neighborhood Assistance Program (NAP). As a tax-credit program tied to nonprofit donations, NAP provides state financial support for only those nonprofit organizations that are receiving community donations. In part, this is one reason why the program enjoys support from elected officials of both major political parties in Missouri (something very seemingly rare these days).

What are NAP Tax Credits?

They are Neighborhood Assistance Program (NAP) Tax Credits that, at minimum, allow you to claim 50% of your donation to First Chance as a credit on your Missouri State Taxes. It allows you to increase your donation to us while greatly reducing your tax liability.

NAP tax credits can be applied to your tax bill, but they are not refundable. For example, someone donating $1,000 to FC4C, and therefore claiming a $500 tax credit who owes the state $450 may apply the credit to that debt, but may not collect the additional $50 in cash. However, that individual can save the credit in whole or in part for up to five years.

The tax credit is open to: 

  • businesses only AND 
  • individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income as well as shareholders in S-corporations, partners in a Partnership or members of a Limited Liability Corporation.

How Can I get NAP Tax Credits?

There are five easy steps!

  1. Make a $500 or more contribution of cash, check, credit card, stock, or appreciated real estate to First Chance for Children.
  2. Complete Form 770, and have notarized. Click to view/download the pdf form. (we can help answers questions!)
  3. Once you receive the cancelled check, monthly credit card, or brokerage statement, mail a copy together with the Form 770 to our office.
    • Your cancelled check documentation must show your name, bank name, the check #, amount, postdate, and last 4 digits of the account number.
    • Credit card statements must show your name and last 4 digits of the account number, as well as: billing cycle, date the charge was posted, name of the recipient organization, and amount of donation.
    • Stock gifts require a letter from your broker indicating your name, name of recipient organization, name of security(ies) transferred from donor account to organization, number of shares, and date of transfer.
  4. We sign your application and send the paperwork on to the Department of Economic Development in Jefferson City, MO.
  5. You receive a voucher in the mail to be used for your taxes.

We’re hoping this tax credit will allow the community to invest in FC4C more than ever before. And in return, we can provide more programs and services for mid-Missouri families. Donors interested in collecting tax credits for contributions to FC4C should email executive director Kasey Hammock. The official Missouri Department of Economic Development landing page on the Web is here.

Don’t wait too long to reach out! We have a limited number of credits available and they will go fast!