Local nonprofits receive NIP credits

Fourteen different nonprofit organizations in Greenbrier County have been awarded Neighborhood Investment Program (NIP) credits for the upcoming year. By donating to approved NIP organizations, contributors can support their communities and earn credits to reduce certain West Virginia taxes. The nonprofits receiving the credits include: Carnegie Hall WV, CASA of the 11th Judicial District, Child and Youth Advocacy Center (CYAC), Children’s Home Society, Communities in Schools of Greenbrier County, Davis-Stuart, Inc., Family Refuge Center (FRC), Greenbrier County Youth Camp, Greenbrier Historical Society, Greenbrier Valley Theatre, Shepherd’s Center of Greenbrier Valley, Trillium Performing Arts Collective, United Way of Greenbrier Valley, and Wellspring of Greenbrier, Inc. Community-minded people who would like to receive a NIP credit deduction on their taxes should contact one of these organizations.

The Neighborhood Investment Program (NIP) was established by the West Virginia Legislature to increase charitable giving to local nonprofit organizations. The program allows 501(c)3 designated charitable organizations to apply for tax credit vouchers. These organizations distribute the vouchers to businesses and individuals who contribute to the organizations.

The West Virginia Legislature sets aside $3 million annually in state tax credits for the NIP. To participate, a charitable organization must apply to the West Virginia Development Office. Upon meeting program requirements and obtaining approval from the NIP Advisory Board, organizations are awarded tax credit vouchers. Businesses and individuals that contribute to NIP-approved organizations are eligible to receive up to 50 percent of the contributed amount in the form of state tax credits.

 

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