State awards Buffalo nonprofit $200K in tax credits

The Missouri Department of Economic Development yesterday announced it has approved a Buffalo-based nonprofit organization for $202,660 in state tax credits.

Horses of Hope-Missouri Inc. was awarded tax credits from the DED-administered Neighborhood Assistance Program, which helps nonprofits raise private-sectors funds by providing partial state tax credits for businesses that make contributions to approved community improvement projects, according to a news release.

Horses of Hope-Missouri will use the funding to provide therapeutic horseback rides for people with disabilities in Greene, Dallas, Hickory, Polk, Camden and Laclede counties. The nonprofit also will create the Strides to Success Educational program, partnering with local schools to help students who are at risk of failing academically.

With NAP tax credits, businesses can donate money, materials, supplies, equipment, technical assistant and professional services, labor, real estate, or stocks and bonds, and the credits can equal up to 50 percent of the value of the contribution or up to 70 percent for projects in most rural areas, according to the release.[[In-content Ad]]