The West Virginia Neighborhood Investment Program recently announced that the Eastern West Virginia Community Foundation was allocated NIP tax credits. Qualifying gifts of $500 to $4,000 can be made to the Foundation to earn a 50% West Virginia income tax credit for the donor.
Because these West Virginia NIP tax credits actually reduce your state tax liability, a $1,000 gift to the Community Foundation translates into an actual $500 out-of-pocket expense—and even less if donors itemize deductions on their federal tax return. Programs supported by NIP tax credits serve low-income residents in highly distressed neighborhoods and certain restrictions apply for contributions to be eligible. The Community Foundation has placed nearly all of its allocation so if you are interested in learning more or in reserving NIP tax credits, click on the link below.
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