Missouri Neighborhood Assistance Program (NAP) Tax Credits: Information
The Neighborhood Assistance Program (NAP) allows Missouri taxpayers to determine where their state tax dollars will be utilized by donating to charitable organizations. St. Louis Arts Chamber of Commerce has been approved to offer $248,162.50 of NAP tax credits to our supporters.
Eligible donors receive a tax credit equaling 50% of a gift to the St. Louis Arts Chamber of Commerce for our Creative Placemaking efforts in Dutchtown Common. This credit combines with your federal and state charitable income tax deduction to lower the actual net cost of your gift to cents on the dollar.
Who qualifies for NAP credits?
- Corporations
- S-Corporations
- Individuals operating a farm in Missouri
- Individuals operating a sole proprietorship
- Individuals with rental property in Missouri
- LLCs
- Partnerships
- Express companies
- Financial institutions
- Insurance companies
How do NAP credits work?
For every NAP dollar you give to the St. Louis Arts Chamber of Commerce, you will receive 50% of your contribution as a direct tax credit on your income tax. Making a $10,000 gift to the Foundation would cost you only $5,000. In addition, the balance can be deducted from your federal taxes, decreasing your total out-of-pocket costs. Examples for 38% tax bracket*:
$50,000 Gift
to St. Louis Arts Chamber of Commerce
Lowers state taxes paid by
$25,000 from NAP Credits AND a
$19,000 federal tax deduction.
$6,000
Actual Expense Out of Pocket
$15,000 Gift
to St. Louis Arts Chamber of Commerce
Lowers state taxes paid by
$7,500 from NAP Credits AND a
$5,700 federal tax deduction.
$1,800
Actual Expense Out of Pocket
$5,000 Gift
to St. Louis Arts Chamber of Commerce
Lowers state taxes paid by
$2,500 from NAP Credits AND a
$1,900 federal tax deduction.
$600
Actual Expense Out of Pocket
How to make your contribution today!
- Make your contribution in cash, stock, property, materials, equipment or supplies to St. Louis Arts Chamber of Commerce. Be sure to indicate your desire to apply for tax credits on your donation (check or online from memo line). We will send you an acknowledgement, the form, and brief instructions on how to fill out the NAP tax credit application.
- Complete and return the notarized NAP form with proper documentation to: St. Louis Arts Chamber of Commerce, Attn: NAP Tax Credits • 1511 Mason Hill Ct • St. Louis, MO 63131
- After receiving your completed form, St. Louis Arts Chamber of Commerce will mail both the application and proof of donation to the Missouri Department of Economic Development.
- You will receive a certification letter directly from the State of Missouri indicating approval within 3-4 weeks, including directions on how to redeem your tax credits.
Eligible donations can be redeemed or claimed when you file your tax return.
Any remaining tax credit balance can be used during the next five years.
Contact Sandy@stlartschamber.org to start the process!