All about NAP Credits
Thanks to an overwhelming response, we have already accounted for our initial allocation of NAP credits. Please see below for information about the possibility of more.
Habitat for Humanity of Greater Charlottesville has historically taken part in the Virginia Department of Social Services’ Neighborhood Assistance Program (NAP). The Department issues NAP credits to encourage philanthropic support for certain organizations that provide direct service to low-income persons within Virginia localities.
Credits issued for fiscal year '15 (July 2014-June 2015) mean that for a minimum gift of $500, a donor will receive a 65 percent credit against his or her income tax liability to the State of Virginia. For example, a $2,000 donation generates $1,300 in tax credits, "costing" you only $700. For a donor in the top tax bracket, this can even result in total tax benefits equal to 105% of the gift amount when combined with state and federal deductions.
Thanks to an overwhelming response, we have already accounted for our initial allocation of NAP credits. We may be issued additional credits around the New Year if any remain unused by other organizations. This possible second allocation of credits could be applied retroactively to any gift made after July 1, 2014 (e.g. holiday giving), or could be applied to a new gift made any time before June 30,2015. Due to the extemely favorable rate, credits go quickly. We are accepting reservations on a first come, first serve basis.
Please contact Development Manager, Sasha Greene at (434) 293 - 9066 to be placed on the waiting list or with any questions.
And, please keep in mind that any donation you designate toward Project 20—our commitment to the community to build at least 20 homes per year until poverty housing in our area is eliminated—will also be matched by an anonymous donor, meaning you'll be helping even more Partner Families achieve success, faster.
Thank you for your generosity!