We are NOT currently accepting NAP credit donations. Please check back from time to time to see when we will once again be accepting NAP credit donations.
The Indiana Housing and Community Development Authority (IHCDA) offers up to $2.5 million in Neighborhood Assistance Program (NAP) Tax Credits annually for distribution by 501(C) 3 not-for-profit corporations. These organizations use NAP Tax Credits as an incentive to help leverage more contributions from individuals and businesses for certain neighborhood-based programs and projects. By contributing to HFHMC and utilizing our NAP Credits you can reduce your tax liability to the State of Indiana.
Again, We are NOT currently accepting NAP credit donations. Please check back from time to time to see when we will once again be accepting NAP credit donations.
HOW DO NAP CREDITS WORK?
When you contribute to HFHMC through this NAP program you receive 50% of your donation in the form of NAP credits, which is deductible directly off of your state tax liability. As an example, a donation to HFHMC through this program of $5,000 would give the donor a credit of $2,500 off of their state tax liability. Eligible donors include any person, business, or organization that has an Indiana income tax liability. Donors can make contributions over a period of time as long as it is in the same calendar year and credits are still available. The process is very simple:
1. Make a donation to Habitat for Humanity of Morgan County. The minimum donation is $100; the maximum is $30,000.
2. One form must be completed and signed: an Indiana state NC-10 form. HFHMC will supply this form to you.
HOW DO I REDUCE MY TAX OBLIGATION ON MY TAX FORMS?
First, have your tax preparer prepare your Federal taxes as normal. Be sure to give your tax preparer your donation letter from Habitat for Humanity of Morgan County for the contribution to claim the charitable contribution allowed by Federal guidelines for the tax year filed. Secondly, you will receive from the Indiana Department of Revenue a NC-20 form, which you will give to your tax preparer to utilize and claim your tax credit from the State. This credit will be fifty percent (50%) of the amount you donated to HFHMC. Your tax preparer will use this credit to reduce your tax liability to the State.
For questions regarding NAP Credits, please contact Ann Painter.