YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Boys & Girls Town offers tax credit incentive

Posted online
Boys & Girls Town of Missouri has made tax credits available for donations of $1,000 or more. Eligible donors can take advantage of the tax credits if donations are received by Dec. 27.

The tax credits are part of the Missouri Department of Social Services' Children in Crisis Tax Credit program, available to child advocacy centers with crisis care centers, said Bill Muehlman, director of gift planning for Great Circle - Boys & Girls Town's parent agency. Springfield is home to Boys & Girls Town of Missouri's crisis care center.

Donors who make donations of $1,000 or more would receive a 50 percent tax credit. A $1,000 donation, for example, would give $500 in tax credit to the donor, Muehlman said.

The credits can then be used to offset payments owed to the government or for state income tax, which could allow for refunds, he said.

Eligible donors include corporations, partnerships, banks, insurance companies, foundations, sole proprietorships and individuals with income from rental properties, royalties or farm income. Other individuals also could potentially receive tax credits for donating depending on need and the manner in which they file their taxes, Muehlman said.

Foundations, however, are not eligible.

Donations can be made to specific campuses or to Boys & Girls Town as a whole. Great Circle recommends gifts be made to the nonprofit at large so they can be used in a broader way, but Muehlman said donations in either category would help the charity.

"Hopefully the incentive also is to help children," he said.[[In-content Ad]]

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Business Spotlight: Meeting the Need

Least of These navigates increasing demand for services.

Most Read
Update cookies preferences