The Ministry of Economic Development has announced plans to provide $ 12.6 million in 50% and 70% tax credits through the Neighborhood Assistance Program (NAP) to 66 organizations for development projects. community throughout the state.
Governor Mike Parson said, “Missouri nonprofits provide essential services to citizens and our most vulnerable populations. This program supports organizations in their work to provide assistance to those Missourians who need it most, which helps ensure our communities remain healthy and strong. “
According to a press release, NAP helps nonprofits raise funds from the private sector by offering partial tax credits to businesses that contribute to approved community improvement projects.
Officials say that during the 2022 fiscal cycle, tax credits were reserved for organizations providing essential services, with priority given to projects offering job training, education and those located in previously undeserved areas of the city. the state.
Other types of projects include crime prevention, community service projects, and the revitalization of community buildings and areas.
Missouri Department of Economic Development Acting Director Maggie Kost said, “A strong economy begins with thriving communities, and the Neighborhood Assistance Program is a great example of collaboration between the public and private sectors to ensure the two. This program increases the positive impact of nonprofits on their communities, which means increased opportunities and prosperity for all Missourians.