Neighborhood Investment Program (NIP) tax credits remain available to support student scholarships at New River Community and Technical College. This year the New River CTC Foundation has been awarded $57,500 in NIP tax credits.
Businesses and individuals who donate $500 or more to the Foundation are eligible to receive 50 percent of the contributed amount in the form of state tax credits. Donations may be made in the form of cash, stock or property/equipment. The deadline to take advantage of available tax credits is Mar. 15.
“As a direct result of NIP tax credits, New River CTC Foundation had a record year, awarding more than $85,000 in scholarships to students enrolled in degree and certificate programs at the college. This program is single handedly the largest tool we have in raising funds to assist our students in pursuing their dream of obtaining a degree or workforce certificate,” said Interim Executive Director at the Foundation Michael Green.
By donating to the New River CTC Foundation, contributors earn tax credits to reduce West Virginia personal income tax, business franchise tax or corporate net income tax. The New River CTC Foundation awards credits to eligible donors on a first-come, first-served basis.
The NIP was established in 1997 by the West Virginia Legislature to encourage charitable giving to local non-profits. The NIP is the only state tax incentive available for charitable gifts. Donations also are eligible for a federal deduction.
“The NIP scholarships allow our students seeking additional financial aid to attend college, and it is made possible by our many wonderful donors. These are the students with the greatest financial need whose lives can be improved the most with workforce training and education programs,” explained Green.
For more information about NIP donations, please contact Michael Green at 304-929-1042, foundation@newriver.edu, or visit www.nrctcf.org. For information on admissions and the programs offered at New River CTC, email admissions@newriver.edu or call 866-349-3739.
New River Community and Technical College serves nine counties in southeastern West Virginia from the Greenbrier Valley Campus (Lewisburg), Mercer County Campus (Princeton), Nicholas County Campus (Summersville) and Raleigh County Campus (Beaver/Beckley).
