DED awards NAP tax credits to Bootheel Youth Museum - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

DED awards NAP tax credits to Bootheel Youth Museum

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MALDEN, MO (KFVS) -

The Missouri Department of Economic Development (DED) today announced that a Malden not-for-profit organization has been approved for state tax credits under the Neighborhood Assistance Program (NAP).

The project is a part of approximately $4.6 million approved in tax credits in the first round of NAP applications for FY 2013.

The Bootheel Youth Museum has been approved for $343,536 in NAP tax credits.

Bootheel Youth Museum will utilize donations received as part of this NAP project for the renovation of their facility, including HVAC, exterior tuck pointing, lighting, and the creation of an after school Teen Zone. 

The facility is a hands-on discovery center for children, focusing on math, science, art, and the humanities, serving more than 30,000 visitors annually. 

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.

 

Businesses 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.

 

Not-for-profit organizations participating in the NAP program conduct capital campaigns or provide services in the areas of crime prevention, education, job training, physical revitalizations, or community services.

The Neighborhood Assistance Program is utilized by not-for-profit organizations throughout Missouri to make their communities a more desirable place to live and work, as well as pave the way for economic development.

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