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Support the Arts Council of Southeast Missouri
and save money on taxes at the same time!

The Southeast Missouri Council on the Arts, Inc. doing businesses as the Arts Council of Southeast Missouri, has been applied and been approved from the Missouri Department of Economic Development, to participate in the Neighborhood Assistance Program (NAP) Tax Credits. Eligible donors utilizing NAP Tax Credits can give the Arts Council of Southeast Missouri full benefit of their donation while allowing themselves to benefit on both their state and federal tax liability.



What are NAP Tax Credits?

NAP Tax Credits are fundraising tools that help nonprofit organizations obtain the funds necessary to carry a project through completion. NAP Tax Credits enable eligible donors to donate a portion of their Missouri tax liability to designated nonprofit initiatives, like the Arts Council of Southeast Missouri. A tax credit is a dollar-for-dollar reduction in taxes which can be deducted directly from the taxes you owe.

Donors may claim the tax credits when they file their Missouri tax return.  As an incentive, the tax credit not only maximizes the amount a donor might give, but also provides an opportunity for businesses, state government, and the nonprofit sector to build and sustain communities by establishing solid public-private partnerships. Additionally, donors can claim their entire contribution on their federal income tax return as a charitable donation.

The benefits to eligible donors are:

  • Receive a charitable deduction (State)
  • Reduce your Missouri State Income Taxes by as much as 50% of the amount of donation (depending on the amount)
  • Benefit for the Arts Council of Southeast Missouri by supporting our Performing Arts Center.

Incentives:

  • Increase levels of giving
  • Expand donor base
  • Donors keep their tax dollars in the community
  • Individual income taxes
  • Can be used to offset Missouri taxes
    • Corporate and Franchise taxes
    • Individual income taxes
    • Financial Institutions tax
    • Missouri Insurance tax return filed with the MO Dept of Insurance


Who are eligible donors?

*Includes Banks, Credit Institutions, Savings and Loan Associations, Credit Unions, Farmer’s Cooperative Credit Associations, or Building & Loan Associations. **Donor must attach a signed, notarized affidavit proving they have other business income to create a Missouri state tax liability.

How do I receive and use my NAP tax credits?

A business or an individual with business income can receive Missouri state tax credits (not a deduction) equal to 50% of a contribution designated to the Arts Council of Southeast Missouri. For example, a gift of $10,000 to the Arts Council of Southeast Missouri will receive a Missouri state tax credit of $5,000.  This credit is in addition to the usual federal and state charitable deductions.

The process is very simple! First, make an eligible contribution to the Arts Council of Southeast Missouri.  You then complete and return a notarized tax credit application form, provided by the Arts Council of Southeast Missouri. The Missouri Department of Economic Development will issue NAP Tax Credits to you, which can be filled with your Missouri business income tax return. The tax credits are applied to your total tax liability incurred for that tax period.

A donor may receive no more than $250,000 in NAP tax credits in one tax year for contributions made to one or more NAP approved projects. The contributor has the tax year the contribution was given and five succeeding tax periods in which to use the credits, if the donor does not have enough tax liability in the tax year the contribution is made.

What size of contribution is required to take advantage of the NAP Tax Credit?

The minimum donation to take advantage of the tax credits is $1,000.



Not ready to buy tax credits at this moment? Download the NAP Pledge Form.

Make a donation to support Cape Girardeau's growing arts community and save money on your taxes at the same time! Download the NAP Application Form.

To answer any questions or to make a reservation of tax credits for your financial contribution, please contact Sara Steffens at 573-334-9233 or director@capearts.org.