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9 Fairfield Groups OK'd For Neighborhood Assistance Act

,FAIRFIELD, Conn. – The Connecticut Department of Revenue Services has approved nine organizations in Fairfield to be included in the 2014 Neighborhood Assistance Act Program, First Selectman Mike Tetreau said.

First Selectman Mike Tetreu announced that nine nonprofit programs now are a part of the 2014 Neighborhood Assistance Act Program.

First Selectman Mike Tetreu announced that nine nonprofit programs now are a part of the 2014 Neighborhood Assistance Act Program.

Photo Credit: Contributed

The NAA program funds state-approved community programs conducted by municipalities or community nonprofits.

Businesses that make charitable donations to qualified programs are eligible to receive a tax credit valued at 60 percent to 100 percent of the amount contributed on their State Corporate Income Tax. The minimum contribution on which a tax credit may be granted is $250, and the maximum contribution that any nonprofit or municipal entity can receive under this program is $150,000. Businesses are also limited to $150,000 in tax credits annually, and the program has a $5 million cap statewide.

The following programs are now part of the NAA:

  • Wakeman Memorial Foundation’s after-school programming, with a contribution limit of $75,000.
  • Wakeman Memorial Foundation’s McKinley Elementary School outreach, limited at $50,000.
  • Operation Hope of Fairfield’s community hunger and homelessness services, limited at $150,000.
  • Pilot House’s therapeutic riding and vocational support, limited at $71,000.
  • Notre Dame High School’s educational outreach and operating support, limited at $150,000.
  • Notre Dame High School’s energy efficiency upgrades, limited at $150,000.
  • Fairfield Theatre Company’s FTC Saturday Kids, limited at $10,000.
  • Connecticut Challenge’s CT Challenge Center for Survivorship, limited at $150,000.
  • Junior Achievement of Western Connecticut’s financial literacy program, limited at $25,000.

Businesses have until Oct. 1 to submit an application to the state Department of Revenue Services denoting the program it intends to sponsor and to request a tax credit.

 

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