The Old Northside Foundation received Neighborhood Assistance Program (NAP) tax credits from the Indiana Housing and Community Development Authority (IHCDA) in the amount of $8,322.00 meaning a total fundraising of $16,644.00 if all credits are sold. The NAP tax credits help the Foundation raise money for certain neighborhood projects and improvements. The funds received pursuant to this year’s award will be used for improvements to the neighborhood parks, planned improvements include new playground equipment, new playground tables, painting/refinishing existing equipment and surrounding surfaces, and additional rubber mulch.
These tax credits are distributed to donors at 50% of the contribution amount and are subtracted from a donor's state income tax liability. For example, if a donor were to make a $500 donation to the Foundation, the donor would then receive $250 in state tax credits, which amount to a dollar for dollar reduction to the donor’s state tax liability.
The minimum donation requirement per IHCDA is $100.00. NAP credits will be available on a first come basis until sold out. Each donor must fill out and submit the attached forms with their donation in order to receive tax credits.
Checks should be made out to the Old Northside Foundation, and mailed along with the completed forms, to 1219 N. Delaware Street, Indianapolis, IN 46202, Attn: Hilary Barnes.
This is a great opportunity to support improvements to your neighborhood for half the cost! Please contact Hilary Barnes (firstname.lastname@example.org) if you are interested in making a donation to the Old Northside Foundation pursuant to this year’s NAP credit award.
Sixty percent of donations must received by December 31, 2020 and the remaining 40% by March 31, 2021.
For more information visit www.oldnorthside.org/NAP-Credits
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