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Tax Credit Transfer Program for Indiana Nonprofits to Improve the Quality of Life of Local Residents

ELIGIBILITY:

Geographic Focus

USA: Indiana

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Neighborhood Assistance Program (NAP)

Indiana Housing and Community Development Authority (IHCDA)


Agency: State

GrantWatch ID #138636

Grant Description

Tax credit transfer program for Indiana nonprofit organizations to facilitate projects that improve the quality of life of local residents. Organizations will be granted state tax credits to encourage donations from residents and corporations. Eligible projects include affordable housing, counseling, child-care, educational assistance, emergency assistance, job training, medical care, recreational facilities, downtown rehabilitation, and neighborhood commercial revitalization. All projects must benefit economically disadvantaged areas and/or persons.

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Eligibility:

  • Others (see text field entitled "Additional Eligibility Criteria" for clarification)

Additional Eligibility Criteria:

To be eligible for NAP credits, an applicant must:
1) Be an Indiana Non-Profit organization in good standing with the Indiana Secretary of State. (https://bsd.sos.in.gov/publicbusinesssearch)
2) Have received a ruling from the U.S. Internal Revenue Service of the United States Department of the Treasury under Internal Revenue Code 501(c)3
3) Have received a ruling of tax exemption from the Indiana Department of Revenue under IC 6-2.5-5-21.
4) Agree not to use funds raised from distributing NAP to support inherently religious activities such as worship, religious instruction or promoting religious beliefs as a part of program services. If an organization conducts religious activities, the activities must be offered separately in another time or location form the program supported by NAP funds. Clients must not be discriminated against based on religious belief or be required to attend or participate in religious activities to receive NAP-funded services.
5) Have met the benchmark reporting requirements from the last NAP round (if the applicant participated in the last NAP round); in this case, the 2021-2022 round. This means that the applicant must have distributed 60% of their credits by December 31st, 100% of their credits by March 31st, and met reporting deadlines for both. If an agency received 2021 credits and failed to meet one of the benchmark reporting deadlines, they may still apply but ONLY up to the maximum credit amount allowed for new agencies.
6) Have met the last closeout reporting deadline, if the applicant received NAP credits two program rounds ago; in this case, the 2020-2021 program round, which had a September 2021 closeout report deadline. If an agency received 2020 credits and failed to submit the 2020 Closeout Report on time, they may still apply but ONLY up to the maximum credit amount allowed for new agencies.
7) Provide a NAP-eligible service, as detailed in the following sections.

Please note: an organization's name on the application MUST match the organization's name on Indiana Secretary of State website: https://bsd.sos.in.gov/publicbusinesssearch

Pre-Application Information:

2022-2023 NAP Applications will be open from Monday April 18 and will close Monday May 16 at 5pm Eastern.

Program Timeline:
- Applications Open April 18, 2022
- Applications Close May 16, 2022
- Awards Announced June 24, 2022
- Contracts Issued by June 27, 2022
- Returned Contracts Due July 1, 2022
- Start Distributing Credits July 1, 2022
For a full timeline, see https://www.in.gov/ihcda/files/2022-NAP-Program-Manual-Final.pdf#page=7.

Additional Funding Information:

Estimated Total Program Funding:

$2,500,000

Estimated Size of Grant:

The maximum tax credit award per organization per fiscal year is $40,000.00. Tax credits are distributed to donors at 50% of the contribution amount and are subtracted from a donor's state income tax liability.

Term of Contract:

NAP is a one-year program. Awards will be made in June, and credits must be distributed to donors between July 1, 2022 and June 30, 2023.

Contact Information:

2022-2023 Neighborhood Assistance Program (NAP) Application: https://www.jotform.com/211655623715152

To learn more about the tax credits for your non-profit, contact the Community Programs Manager at (317) 232-2992, or via email at NAP@ihcda.in.gov to learn about IHCDA's NAP Program and process.

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