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This flow chart shows how organizations can apply for tax credits through the state Department of Economic Development.
This flow chart shows how organizations can apply for tax credits through the state Department of Economic Development.

Area nonprofits receive $150K in state tax credits

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The Missouri Department of Economic Development issued two local nonprofits a combined $154,164 in state tax credits.

Equi-Librium Therapy Center Inc. was selected for $129,164, and Council of Churches of the Ozarks was picked for $25,000, according to a news release. The organizations are among 28 nonprofits statewide chosen for $5.6 million in state tax credits through the DED’s Neighborhood Assistance Program.

The largest tax credit award of $349,885 went to St. Louis-based Sherwood Forest Camp Inc., the release said.

The credits are designed to help organizations make capital campaigns or provide services in the areas of crime prevention, education, job training, physical revitalizations or community services. Businesses can donate cash, materials, supplies, equipment, technical assistance, professional services, labor, real estate, or stocks and bonds to qualify for the credits, according to the release.

Credits can equal up to 50 percent of the total contributed or up to 70 percent in some rural areas.

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