Tax Credits

Tax Credits for Your Donation

Virginia Residents and Businesses Can Receive a Tax Credit for Donations to
Fellowship Square.

Want to make the most of your donation? Neighborhood Assistance Program (NAP) State tax credits are available for all Virginia resident donors who make a minimum contribution of $500 and for businesses who contribute a minimum donation in cash or equivalent services that equal a value of $616.

Fellowship Square has received a Neighborhood Assistance Program (NAP) grant from the Commonwealth of Virginia, and can offer tax credits on a first come, first served basis. Consider giving a larger gift this year which may actually cost you less. Please make your check out to Fellowship Square, noting tax credit on the memo line.

How do I get NAP Tax Credits?

Individuals who make an undesignated gift to Fellowship Square receive tax credits that are worth 65% of your donation, which you can then subtract from taxes owed to Virginia when filing your annual income tax return. The minimum donation by an individual or married couple must be at least $500. The value of the tax credit is equal to 65 percent of the donation.

Example: Minimum $500 cash donation x 65% = $325 Tax Credit. Your cost for the gift will be $175.

 

Gift to Fellowship SquareTotal Cost to YouTax Credit
$1,500$525$975
$1,000$350$650
$500$175$325
$10,000$3,500$6,500
$5,000$1,750$3,250
$2,500$875$1,625
$2,000$700$1,300

Businesses that are authorized to do business in Virginia may also receive tax credits for undesignated donations and donated services. The minimum qualifying donation for a business is $616. The value of the tax credit is equal to 65 percent of the donation.

Example: Minimum $616 cash donation x 65% = $400.40 Tax Credit. Your cost for the gift will be $215.60.

Tax credits not used by the individual or business for the period of the contribution may be carried over for the next three succeeding taxable years.

 

What is the NEIGHBORHOOD ASSISTANCE PROGRAM (NAP)?

 The Neighborhood Assistance Program (NAP) provides state income tax credits as incentives for individuals and businesses to contribute directly to approved nonprofit organizations who serve the impoverished. Contributions may be in the form of cash, goods, stock, real estate, professional services, contracting services, and rent/lease of space. Businesses and individuals may receive a tax credit for 65 percent of their total contribution. Tax credit certificates will be issued to qualifying donors by the NAP program after the unrestricted donation is made to Fellowship Square.

For more information, contact Christy Zeitz, Executive Director, by email at czeitz@fellowshipsquare.org or by phone at 703-860-2536.

Fellowship Square Foundation, a faith-based nonprofit organization, advocates for and provides safe, secure, affordable housing and an array of supportive services for a diverse population of low income seniors and persons with disabilities.

 

Thank you for your generous support!

 

 

 

Fellowship Square | 11260 Roger Bacon Dr., Suite 503B | Reston, VA 20190

703-860-2536 | www.fellowshipsquare.org