St. Louis Area Foodbank
Neighborhood Assistance Program
REDUCE YOUR TAXES
Help reduce your tax liability while supporting the St. Louis Area Foodbank (SLAFB). SLAFB is eligible to offer Missouri tax credits through the Missouri Department of Economic Development’s Neighborhood Assistance Program (NAP).
Here’s how it works:
First, as with any general charitable donation, the donor is able to take a Federal and Missouri State tax deduction.
In addition to the Federal and State deductions, by using the Missouri Neighborhood Assistance Program Tax Credit, an eligible donor is also able to claim one-half (50%) of the donation as a state tax credit. ($1,000 gift equates to $500 Missouri tax credit.)
Features and Restrictions of the NAP Tax Credit
- Can be claimed against a variety of state tax liabilities and must be claimed in the following order:
- Gross Premium Receipts Tax
- Financial Institution Tax
- Corporate Franchise Tax
- Corporate and Individual Income Tax
- Gross Receipt Tax
- Not refundable or transferable
- Five year carry-forward provision
How to Apply
The St. Louis Area Foodbank offers N.A.P. tax credits on a first come, first served basis. The credits are only available to eligible donors for gifts made between January 1 – December 31, 2017.
- Interested donors should notify Verletta Cole at (314) 292-5393 or firstname.lastname@example.org to confirm the availability of credits.
- Eligible donors should submit their charitable contribution to the St. Louis Area Foodbank by December 31st, 2017.
Once the donation has been made, to increase chances of approval, the application should be completed and submitted within weeks of making the donation.
- Submit the signed, notarized original application (along with substantiation) to:Verletta Cole, St. Louis Area Foodbank, 70 Corporate Woods Drive, Bridgeton, MO 63044
- The Foodbank must verify the gift and accuracy of application, prior to submission to the State.
- The State requires 4 – 6 weeks for processing. (If any questions should arise, the State or Foodbank representative will contact donor for clarity.)
- If no questions or additional information is needed, the State will forward a tax certificate to the donor.
The donor is not to claim the credit until the actual certificate is received.
For more information about the program and eligibility guidelines, please read the following Q&A page and/or download an application. If unsure about your eligibility, please contact your tax advisor.
Most Frequently Asked Questions
(Prepared for the St. Louis Area Foodbank)
N.A.P. Project #FY2017-91057
For Donations Made January 1 Through December 31, 2017
(or Credits Are Exhausted)
What is NAP?
The NAP (Neighborhood Assistance Program) is a powerful tax credit incentive offered to approved Missouri nonprofits. The program aids the St. Louis Area Foodbank in providing more meals to people in need; while allowing donors to stretch their charitable dollars further.
Who Qualifies for NAP Tax Credits?
- Corporations (including S-Corporations and their individual shareholders)
- Insurance Companies
- Express Companies
- Banks and other financial institutions
- Partnerships (and the individual partners)
- Limited Liability Companies (and their individual members)
- Individuals who either: a) operate a sole proprietorship in Missouri, or b) operate a farm in Missouri, or c) have rental property in Missouri, or d) have royalty income in Missouri.
What Kinds of Donations Qualify?
Donations for which no goods or services have been exchanged may qualify:
- Cash – valued at face amount of check (Foodbank offers credits to donors contributing at least $1,000 per calendar year if requested by donor.)
- Stocks and Bonds – Stocks are valued at stock market price (high) on the date of transfer but must be sold by the nonprofit organization within one year from the date of contribution before credit will be approved for the donor. Bonds are valued at face value and must be matured at the time of donation. Bonds must be sold by the nonprofit organization within one year from the date of contribution before credit will be approved for the donor.
Is Documentation Required with a Submitted Application?
Yes. One of the following items must be submitted with your application.
- Cash – front and back copies of the cancelled check (Be sure that back of check shows bank cancellation transaction numbers.)
- Credit Card – copy of credit card statement showing donor information, date of gift, amount of gift, and name of recipient organization (St. Louis Area Foodbank).
- Stock – copy of trade confirmation letter from brokerage firm with date of transfer, total number of shares transferred, stock name and name of recipient organization