State
Indiana Housing and Community Development Authority (IHCDA)
04/29/21
05/17/21 5:00 PM ET
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.
Donors that receive state tax credits from an eligible non-profit organization may receive a reduction of their Indiana income tax liability valued at 50% of the amount of their donation. That means that if they donate $200 and receive tax credits for their full donation, they can receive a $100 tax credit, which is applied against their Indiana state tax liability (not their federal tax liability). That tax credit is applied to the tax year in which they made their donation.
Nonprofit organizations should provide one of the following services:
GrantWatch ID#: 138636
$2,500,000
An organization that has participated in the Neighborhood Assistance Program in any of the three (3) preceding years may apply for a maximum of $15,000 in NAP tax credits. $15,000 of distributed credits means $30,000 in donations.
An organization that has not participated in the Neighborhood Assistance Program in any of the two (2) preceding years may only apply for a maximum of $5,000 in NAP tax credits. $5,000 in distributed credits means $10,000 in donations. NEW for 2021: agencies that failed to meet benchmark reporting requirements for 2020, or the closeout report deadline for 2019 may apply for 2021 NAP tax credits, but only up to $5,000, unless they secure a waiver from IHCDA.
An organization must apply for a minimum of $1,000 in NAP tax credits. $1,000 distributed credits translate to $2,000 in donations.
Once the NAP agreement is signed and the program year starts on July 1, organizations can begin distributing their NAP tax credits to donors in exchange for funding contributions; 60% of credits must be distributed by December 31st, and 100% by March 31st.
Awards will be made in June, and credits must be distributed to donors between July 1, 2021 and June 30, 2022.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
Apply online: https://form.jotform.com/IHCDA/2021-nap-application
Please email nap@ihcda.in.gov with any questions or concerns.
If grantee staff need to call talk to someone directly, please call the IHCDA front desk to have their call directed to the NAP Program Manager: 317-232-7777.
USA: Indiana
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