Boys' ranch awarded $350K in tax credits

The Good Samaritan Boys Ranch in Brighton received $349,358 in tax credits from the Missouri Department of Economic Development.

The ranch, 12 miles north of Springfield on Highway 13, is one of four nonprofits approved for credits in this application round, according to a Good Samaritan news release this week. Other funding in this nearly $780,000 round went to The Carter County Senior Center in Van Buren, Child Center-Marygrove Catholic Comprehensive Services in Florissant and Epworth Children and Family Services in St. Louis, according to a separate DED release last month.

Proceeds from the tax credits issued to businesses this year will assist in the care and treatment of at-risk youth living at the Good Samaritan ranch and in its transitional program, the release said.

Under the program, businesses can provide 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.

The Good Samaritan Boys Ranch credits are valued at 70 percent of the total donation. The credits can be applied toward a variety of state taxes including corporate and individual income taxes, and they can be carried over for up to five years, according to the release.

The DED currently is accepting the first of two rounds of applications for up to $16 million in fiscal 2016 NAP tax credits. Nonprofits offering community service, education, crime prevention job training or physical revitalization can submit an application through April 24. The first-round credits will have a July 1 start date, according to the DED. The deadline for the second round of credits is Sept. 25, with a Jan. 1 start date.[[In-content Ad]]