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, including conversion of old lighting to LED, new sensory landscaping, additional water sources and convenience outlets, new picnic tables, tree removal, repainting fencing, and relocation of old central avenue artist pillar.
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 Foundation must sell 60% of the credits by December 31, 2020 with the remainder to be sold by March 31, 2021.
For questions or more information, contact Hilary Barnes at firstname.lastname@example.org.