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Panhandle agencies win approval for tax-credit program

September 20, 2010

A total of 177 West Virginia neighborhoods have been approved for participation in the FY 2011 Neighborhood Investment Program.

The NIP Advisory Board met July 30 to review and evaluate 181 applications requesting approximately $7.9 million in tax credits, according to a news release from the West Virginia Development Office. Upon the board's recommendation, the director of the West Virginia Development Office, Secretary Kelley Goes, certified 177 applications/projects for $2.5 million in tax credits.

"These projects, most of which extend through multicounty areas, provide services to our economically disadvantaged citizens with the goal of creating stronger and healthier communities," Goes said in the release. Since the program's inception, approximately $31 million in tax credit has been awarded to qualified nonprofits, allowing nonprofits to leverage a total of approximately $46 million in contributions, Goes said.

The following nonprofit organizations in the Eastern Panhandle have been certified for participation in the FY 2011 Neighborhood Investment Program:

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Berkeley County:

o Berkeley County Congregational Cooperative Action Project Inc. (C-CAP/Loaves and Fishes)

o Boys & Girls Club of the Eastern Panhandle

o Community Networks Inc.

o Eastern West Virginia Community Foundation

o Family Resource Network of the Panhandle

o Hospice of the Panhandle Inc.

o Panhandle Home Health Inc.

Jefferson County:

o Charles Town Health Right Inc. (Eastern Panhandle Free Clinic)

o Friends in Action of the Eastern Panhandle

o Good Shepherd Interfaith Volunteer Caregivers

o Shepherdstown Day Care Inc.

NIP was established by the West Virginia Legislature in 1996 to increase charitable giving to local nonprofit organizations. The program allows 501(c)3-designated charitable organizations to apply for tax credit vouchers. These organizations then distribute the vouchers to businesses and individuals who contribute to the organizations. By donating to approved NIP organizations, contributors can support their communities and receive 50 percent of the contributed amount in credits to reduce corporate net income tax, business franchise tax and personal income tax, according to the release.

At the close of FY 2010, the NIP enabled participating organizations to leverage approximately $6 million in donations.

The West Virginia Legislature sets aside $2.5 million annually in state tax credits for the NIP. To participate, a 501(c)3 organization must apply to the West Virginia Development Office. Applicants are evaluated on a number of criteria before being approved by the NIP Advisory Board. Participants have until June 30, 2011, to distribute their allocation of NIP tax credits.

The minimum eligible donation upon which a tax credit can be issued is $500. The maximum donation for a tax credit is $200,000.

For more information, contact Lisa Wells with the West Virginia Development Office at 304-558-2234 or toll-free at 800-982-3386. A list of FY 2011 NIP participants and their contact information is available at http://www.wvdo.org/downloads.

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