What is the Neighborhood Assistance Program?
- The Neighborhood Assistance Tax Credit Program for Education encourages businesses & individuals to contribute directly to neighborhood organizations whose primary function is providing education assistance to low-income persons or eligible students with a disability.
How did New Vistas School get involved with the NAP?
- New Vistas School applied for and was accepted by the Commonwealth of Virginia Department of Education’s Neighborhood Assistance Tax Credit Program for Education.
- NVS qualified to apply for the NAP because:
- Over 50% of NVS students meet the federal guidelines for financial need.
- Well over 50% of NVS students have identified learning disabilities.
- NVS is the only school in our area to be approved!
How does the NAP work?
- Gifts to NVS enable a donor to receive 65% of the gift amount in Virginia state tax credits.
- While not guaranteed, limited NAP credits may be available.
- Individual donations must be a minimum of $500. ( $325 tax credit for $500 donation)
- Business/corporate donations must be a minimum of $615.39(cash, merchandise, rent/lease facility, professional services, stock, real estate, other property, contracting services)
- The tax credits can be prorated for filing up to five years.
- NVS has been awarded a limited amount of credits for the 2013-2014 program year (7-1-2013 through 6-30-2014). Donor documents will be submitted to the state on a “first come” basis.
What do I need to do?
- Make your donation to NVS in accordance with the criteria as listed above.
- NVS will supply you with a Contribution Notification form that you complete and submit along with your donation check to NVS
- NVS will complete their section of the form and send it to the State.
- The State will send the tax credit voucher directly to you.
For more information please contact the NVS Business office at 434-846-0301.