FACT is an approved non-profit organization in Virginia’s Neighborhood Assistance Program (NAP). July 1 marks the fiscal year for new credits. For a minimum gift of $500, an individual donor may be eligible to receive a 50-65 percent credit against his or her income tax liability to the Commonwealth of Virginia. Unlike a tax deduction, a tax credit reduces one’s tax bill dollar-for-dollar. For example, a $2,000 donation generates $1,300 in tax credits, “costing” the donor only $700. For a donor in the top tax bracket, this may even result in total tax benefits equal to 105 percent of the gift amount when combined with state and federal deductions. Businesses and trusts must make a minimum gift of $616 to qualify for the NAP tax credit.
To reserve your credits, contact our Executive Director, Pam Clendenen at 757-788-1993, or at email@example.com. Please indicate your specific interest in NAP credits and note the amount of your pledged gift.
Families of Autistic Children in Tidewater have historically taken part in the Virginia Department of Social Services’ Neighborhood Assistance Program (NAP). The Department issues NAP credits to encourage philanthropic support for non-profit organizations that provide direct service to those with special needs. Please contact us today to reserve your credits, as they will be issued on a first come, first serve basis.