Springfield, MO

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Branson West nonprofit approved for state tax credits

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A Branson West nonprofit yesterday was approved for $142,888 in state tax credits from the Missouri Department of Economic Development.

The Missouri Community Betterment Education Fund Inc. has been approved for tax credit's through DED's Neighborhood Assistance Program, according to a news release.

The Missouri Community Betterment Education Fund will use the NAP proceeds to fund community assessments, planning processes and training for the implementation of services for youth, seniors and working families. The organization, which was established in 1963, fosters community development by lending technical assistance to communities and neighborhoods, helping its members to get statewide recognition and bring investment opportunities, according to its Web site.

Communities involved in the organization include Republic, Ozark and Mansfield.

Under NAP, companies can donate money, materials, supplies, equipment, technical assistant and professional services, labor, real estate, or stocks and bonds. Recipients of the donations are typically nonprofits.

Credits can equal up to 50 percent of the value of the contribution or up to 70 percent for projects in most rural areas. NAP tax credits can be applied to income, corporate franchise, bank, insurance and express companies taxes, according to DED's Web site.
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