The Missouri Department of Economic Development (DED) announced that two Columbia, Missouri not-for-profit organizations have been approved for a total of $265,000 in state tax credits under the Neighborhood Assistance Program (NAP). The approved projects are a part of approximately $5.5 million approved in the first round of NAP applications for FY 2012.

OATS, Inc., has been approved for $15,000 in tax credits. OATS provides services to elderly, disabled, and low income individuals in 87 counties throughout Missouri, particularly in rural areas, to remove transportation barriers to employment, healthcare, and other services related to independent living. Funds from this project will be used as a match in the acquisition of lift-equipped vehicles to ensure continuity of services to over 30,000 Missourians, allowing them to remain in their homes and independent.

The DED administers the Neighborhood Assistance Program that helps not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.

A donation to OATS may entitle donors to receive up to half of their donation back in the form of state tax credits. Businesses and individuals can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in most rural areas. Those considering donations should check with their accountant to see how these tax credits can work for them.