Donations to STEP Inc. eligible for tax credits

Individuals and businesses who donate to Solutions That Empower People (STEP), Inc. can now find rewards other than the warm, fuzzy feeling that comes with knowing you have done something good for your fellow man.
Thanks to the Neighborhood Assistance Program (NAP) Tax Credits issued to STEP through the Virginia Department of Social Services, donors may receive a monetary reward in the form of a tax credit for up to 65 percent of the donation. STEP recently received word that it is qualified to offer the NAP credits.
“This is like getting paid to support your favorite charity,” said Marc Crouse, STEP’s executive director. “As taxpayers, we don’t usually have an opportunity to choose how our tax dollars are spent, but donating to STEP, Inc. through the Neighborhood Assistance Program (NAP) is one way to influence that,” Crouse said.
STEP is the designated community action agency for Franklin and Patrick counties with services in Henry, Pittsylvania, and Bedford counties as well as the cities of Martinsville and Danville. More than 3,500 individuals receive services each year, including Head Start/Early Head Start; financial and business services; senior, supportive and youth services; and housing and weatherization. STEP’s mission is to address the symptoms and causes of poverty and to empower people to overcome barriers to success.
The Neighborhood Assistance Program (NAP) was created by the General Assembly in 1981, to encourage businesses, trusts and individuals to make donations to approved 501(c)(3) organizations for the benefit of low-income persons.
Eligible non-profit organizations receive an allocation of tax credits from Virginia Department of Social Services or the Department of Education on a basis of their proven operational success and their capacity to serve low-income persons or eligible students with a disability. Neighborhood Assistance Program (NAP) State tax credits may be available to an individuals or organizations making a donation of cash or marketable securities directly to a NAP organization.
For STEP, this means that a $1,000 donation may yield a $650 tax credit to the Commonwealth of Virginia. “That’s not a bad rate of return,” Crouse said.
Donations to STEP, Inc. are used to support programs and services that strengthen the communities it serves. For more information about making a donation to STEP and the NAP program, contact Crouse at (540) 483-5142 or marc.crouse@stepincva.com.

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