Branson nonprofit receives $140K in tax credits

The Missouri Department of Economic Development approved Branson nonprofit organization Missouri Main Street Connection for $140,000 in Neighborhood Assistance Program state tax credits.

DED's NAP helps nonprofit organizations raise private-sector funds by providing partial state tax credits to businesses that make donations to community improvement projects, according to a DED news release.

In this case, Missouri Main Street Connection will utilize the program to provide incentive for donations for its Main Street Approach program, which seeks to revitalize downtown Branson.

The revitalization encourages economic development through historic preservation, self-reliance, local empowerment and ownership, unique architecture and a sense of community. The nonprofit also wants to rebuild commercial districts and provide a pedestrian-friendly environment.

Businesses can donate money; supplies or equipment; assistance, such as technical and professional services and labor; real estate; or stocks and bonds. The businesses can receive from 50 percent to 70 percent in tax credits depending on the amount contributed.

The Neighborhood Assistance Program is provided by DED to allow community organizations to economically develop their towns and make them more desirable places to live and work.[[In-content Ad]]