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DED Home  >  Business and Community Services Home  >  Community Services  >  Financial and Incentive Programs  >  Creating IDAs  >  Neighborhood Assistance Program

Neighborhood Assistance Program

Applications for FY2009 are now being accepted

Download:

FY2009 Application
FY2009 Guidelines

Budget Amendment

Final Report
Individual Payroll Deduction
Project Extension

Project Update
Quarterly Report
Signature Authorization
Tax Credit Application
Tax Credit Accountability Act Reporting Form

PURPOSE
Provide assistance to community-based organizations that enables them to implement community or neighborhood projects in the areas of community service, education, crime prevention, job training and physical revitalization.

AUTHORIZATION
Sections 32.100 to 32.125, RSMo 

ELIGIBLE AREAS 
Statewide

ELIGIBLE APPLICANTS

  • Not-for-profit corporations organized under Chapter 355, RSMo;
  • Organizations holding a 501(c)(3) ruling from the IRS; and
  • Missouri businesses.

ELIGIBLE DONORS 
Businesses only - individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income are also eligible, as well as a shareholder in an S-corporation, a partner in a Partnership or a member of a Limited Liability Corporation. 

ELIGIBILITY CRITERIA
The Department of Economic Development (DED) will issue 50% or 70% tax credits to an eligible taxpayer who makes a qualified contribution to an approved Neighborhood Assistance Program (NAP) project.

PROGRAM BENEFITS/ELIGIBLE USES
This tax credit can be applied to:

  • Ch. 143 – Income tax, excluding withholding tax
  • Ch. 147 – Corporate franchise tax
  • Ch. 148 –
    • Bank Tax
    • Insurance Premium Tax
    • Other Financial Institution Tax
  • Ch. 153 – Express Companies Tax

This credit’s special attributes:
Carryforward 5 years 

FUNDING LIMITS
The maximum amount of tax credits available is $18 million per fiscal year.  The tax credits are allocated at the discretion of DED and are subject to change:

  • $12,000,000 million in 50% credits
  • $6,000,000 million in 70% credits (reserved for projects in certain lower population or unincorporated areas).

Applicant organizations may request a maximum of $250,000 in 50% tax credits per year or $350,000 in 70% tax credits per year if the organization is located in a qualifying rural area.

APPLICATION/APPROVAL PROCEDURE
There is no deadline for applying. Applications are reviewed as received until funding is depleted. NAP staff is available to provide technical assistance to organizations making application to the program.

REPORTING REQUIREMENTS
Quarterly reports, final report, final audit for projects using $25,000 or more in tax credits, and 1099 reporting.

SPECIAL PROGRAM REQUIREMENTS 
Preference is given to projects addressing specified program outcomes.  The NAP also seeks projects located in distressed communities and in target communities as determined by the department. 

CONTACT
Missouri Department of Economic Development
Division of Business and Community Services
Finance Management Team
301 West High Street, Room 770
P.O. Box 118
Jefferson City, MO  65102
Phone: 573-751-4539      Fax: 573-522-4322
E-mail: dedfin@ded.mo.gov  

To e-mail this web page attach the following URL: http://go.missouridevelopment.org/nap


Business and Community Services
301 W. High Street, Rooms 720, 770, Jefferson City, Missouri 65102
Tel: 800-523-1434    Fax: 573-751-7384   Email: missouridevelopment@ded.mo.gov

Missouri Association of Community Action

Missouri Association of Counties

Missouri Chamber of Commerce

Missouri Community Betterment

Missouri Development Finance Board

Missouri Economic Development Council

Missouri Housing Development Commission

Missouri Main Street Connection

Missouri Municipal League

State Emergency Management Association

US Census Bureau

US Department of Agriculture

US Department of Housing and Urban Development

Tax Credit Issuance Fee Notice