YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
One of the most popular community development programs in state government is getting bigger, and is now accepting applications for the year 2000, according to a press release from the Missouri Department of Economic Development.
The Missouri Department of Economic Development now is accepting applications for the Neighborhood Assistance Program (NAP), a program for community-based projects administered by nonprofit organizations.
Organizations approved for NAP can offer contributors partial state tax credits for their donations 50 percent in most cases, or up to 70 percent for some projects in rural areas. These tax credits can serve as a powerful fund-raising tool for not-for-profit organizations, and in effect, allow donors to contribute more than they might otherwise.
"The Neighborhood Assistance Program has been a solid community development program for more than 20 years," said Joseph L. Driskill, director of the Department of Economic Development. "It continues to be one of our most successful programs because it provides an opportunity for state government, non-profit organizations and local businesses to create partnerships to establish sustainable neighborhoods throughout Missouri."
Because of recently enacted legislation, the department will have more flexibility to approve more NAP projects than ever before.
A total of $18 million in tax credits is available for community-based projects in 2000 a 50 percent increase from the previous fiscal year. These tax credits are expected to leverage more than $36 million in private contributions.
Last year, only 167 out of 205 applicants were approved.
The Neighborhood Assistance Program is administered by the Department of Economic Development.
The program focuses on community development efforts designed to improve the quality of life in Missouri.
Since 1978 when Missouri became the third state in the nation to adopt legislation creating a Neighborhood Assistance Program more than 4,000 organizations in more than 269 Missouri cities have participated.
During that time, more than 40,000 donors have contributed in excess of $220 million to projects administered by those organizations.
The deadline for application is March 15, 1999.
The NAP application form for fiscal year 2000 can be accessed electronically at
www.ecodev.state.mo.us/cd/nap
or a copy can be requested from Michelle Parkes at 573-751-4849.
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