Area nonprofits issued state tax credits

The Missouri Department of Economic Development approved two area nonprofits for a combined $697,200 in tax credits as part of a total $4.3 million issued to 23 organizations statewide.

Branson-based Boys & Girls Club of the Ozarks received $347,200 in credits and Marshfield Senior Center pulled in $350,000, according to a news release.

The credits were issued through the DED's Neighborhood Assistance Program, which helps nonprofits raise private-sector funds by providing businesses partial state tax credits for contributions to approved community improvement projects.

NAP tax credits are approved for nonprofits participating in capital campaigns or providing services in the areas of crime prevention, education, job training, physical revitalizations or community services. Businesses can donate cash, materials, supplies, equipment, technical or professional services, labor, real estate, or stocks and bonds in exchange for the tax credits. Credits can equal 50-70 percent of the total value, according to the DED.[[In-content Ad]]