ALS Ice Bucket Challenge Progress

 

Missouri Neighborhood Assistance Program (NAP) Tax Credits

The ALS Association St. Louis Regional Chapter has been awarded Neighborhood Assistance Program tax credits to be distributed and used for Missouri residents and businesses through 2020. This highly competitive grant supports local care service programming and keeps your state tax dollars right here in our community, allowing you to determine how they are used.

The program is simple. You make a donation of $1,000 or more and you may take 50 percent of the amount of your ALS Association gift off the top of your Missouri state tax liability. Then you may take a charitable deduction off your federal taxes without regard for your 50 percent credit from the state of Missouri. That’s right, the out of pocket expenses could be less than half of your original donation!  

Examples of how tax credits may be applied:

After-tax Cost of State Tax Credits

Your Gift of $x,xxx

$1,000

$2,500

$5,000

$10,000

$20,000

Federal tax deduction assuming 35%

(350)

(875)

(1,750)

($3,500)

($7,000)

State tax deduction assuming 6%

(60)

(150)

(300)

(600)

(1,200)

State tax credit (50% of gift)

(500)

(1,250)

(2,500)

(5,000)

(10,000)

Additional Federal tax due to
state tax credit assuming 35%

175

438

875

1,750

3,500

Your Total Out-of-pocket Cost

$265

$663

$1,325

$2,650

$5,300

*Your financial professional will be able to tell you the exact amount most beneficial for your tax liability.

Additional information:
Program Basics/How Program Works

Eligibility requirements

NAP Tax Credit application

For questions or additional information, please contact Katie McGovern, development director, at kmcgovern@alsastl.org or 888-873-8539 ext 222.