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Indiana State Tax Credits

TRI-CAP is excited to be able to offer Indiana State Tax Credits to our donors for donations made from July 1st to December 31st (or when our allotment of tax credits is exhausted, whichever comes first).

What are NAP State Tax Credits?  The state tax credits are part of the Neighborhood Assistance Program (NAP), established by Indiana Code 6-3.1-9 which offers $2.5 million in tax credits annually for distribution by not-for-profit organizations across the state.  These not-for-profit organizations use NAP tax credits as an incentive to help them leverage more contributions from individuals and businesses for programs and services benefiting economically disadvantaged households and communities.  TRI-CAP is one of the not-for-profit organizations that has applied for and been awarded state tax credits again this year.

How do the State Tax Credits work?  Organizations, corporations, and individuals are each eligible to make a contribution to a NAP agency (TRI-CAP).  When you do, you will receive a tax credit on your Indiana taxes worth 50% of your contribution.  For example:  If an individual contributes $1,000, they will receive a $500 Indiana tax credit.  So basically, donors receive half of their donation back while TRI-CAP receives the total donation to support our programs!  That is what we call a win/win!!

There are a few guidelines to participate:

  • Both donor forms must be completed and submitted with your donation
  • Tax Credits are distributed on a first come, first served basis until our award of tax credits is exhausted (TRI-CAP’s award amount varies slightly from year to year)
  • Donations for Tax Credits can only be accepted from July 1st until December 31st (or the date our tax credit supply is exhausted) whichever comes first.  Of course regular donations are accepted any time of year!
  • Donations for Tax Credits must be $100 or greater.  We are not permitted to accept a donation for tax credits that is less than $100. (This equates to a tax credit of $50).
  • Donations cannot exceed $50,000 in a calendar year.  (This is donation total regardless if you are making one or several tax credit donations with eligible organizations.)
  • Services (sweat equity), supplies and equipment are not eligible in-kind donations

Eligible contributions include:

TRI-CAP reports the donations to the Indiana Department of Revenue through the Indiana Housing & Community Development Authority.  When filing your taxes, no forms are required to receive the credit, you just need to include the amount of the credit on your tax forms.  However, for record keeping purposes and to help you remember to claim, a copy of your required donation forms will be sent to you along with a donation letter.  These will serve as your receipt.

Questions?  If you have additional questions or would like more information, please contact Susan Reichard (susan@tri-cap.net) or Joyce Fleck (joyce@tri-cap.net) at (812) 482-2233.  We would love to talk to you!

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