NAP credits available through Habitat for Humanity of Whitley County
By Mary Tobin
In acknowledgment of their work on behalf of low-income residents, Habitat for Humanity of Whitley County has been awarded $24,640 in credits through the state's Neighborhood Assistance Program (NAP). This program is administered by Indiana Housing and Community Development Authority (IHCDA) and is designed to offer Indiana state income tax credits to individuals and businesses that support Habitat for Humanity of Whitley County.
Last year, Habitat for Humanity of Whitley County was able to construct four new homes in the 600 block of West Market Street in Columbia City. These homes provide decent, affordable and energy efficient housing for 25 individuals.
They were able to achieve an energy consumption rating on these homes that averaged 54% of what a code compliant new house would normally consume. Additionally, they made use of infrastructure (water, sewer, electric, gas and streets) that was already in place. The construction of four new homes within Columbia City added tax revenue in to the local units of government.
By financially contributing to our work, this provides any person, business, or organization that has an Indiana income tax liability an opportunity to receive a state income tax credit equal to 50% of your gift. The minimum contribution to Habitat for Humanity of Whitley County is $100 (for a $50 tax credit) and the maximum theoretical contribution is $50,000 (for a $25,000 tax credit). If eligible, you may also take a regular deduction on your federal income tax.
They are offering the credits on a first come, first served basis until they are fully distributed.
Gifts to Habitat under NAP can be in the form of cash or securities. You are encouraged to talk with tax advisors as needed and to forward your check as soon as possible as tax credits go quickly. If your gift will be in the form of securities/stocks, please call the Habitat office for guidance.
For additional information about NAP credits and how they can impact your federal income tax deductions, contact Carl Siler at 244-4479 or via email at csiler@whitleynet.org
In acknowledgment of their work on behalf of low-income residents, Habitat for Humanity of Whitley County has been awarded $24,640 in credits through the state's Neighborhood Assistance Program (NAP). This program is administered by Indiana Housing and Community Development Authority (IHCDA) and is designed to offer Indiana state income tax credits to individuals and businesses that support Habitat for Humanity of Whitley County.
Last year, Habitat for Humanity of Whitley County was able to construct four new homes in the 600 block of West Market Street in Columbia City. These homes provide decent, affordable and energy efficient housing for 25 individuals.
They were able to achieve an energy consumption rating on these homes that averaged 54% of what a code compliant new house would normally consume. Additionally, they made use of infrastructure (water, sewer, electric, gas and streets) that was already in place. The construction of four new homes within Columbia City added tax revenue in to the local units of government.
By financially contributing to our work, this provides any person, business, or organization that has an Indiana income tax liability an opportunity to receive a state income tax credit equal to 50% of your gift. The minimum contribution to Habitat for Humanity of Whitley County is $100 (for a $50 tax credit) and the maximum theoretical contribution is $50,000 (for a $25,000 tax credit). If eligible, you may also take a regular deduction on your federal income tax.
They are offering the credits on a first come, first served basis until they are fully distributed.
Gifts to Habitat under NAP can be in the form of cash or securities. You are encouraged to talk with tax advisors as needed and to forward your check as soon as possible as tax credits go quickly. If your gift will be in the form of securities/stocks, please call the Habitat office for guidance.
For additional information about NAP credits and how they can impact your federal income tax deductions, contact Carl Siler at 244-4479 or via email at csiler@whitleynet.org