Virginia's Neighborhood Assistance Program (NAP)
What are Virginia NAP credits?
Virginia Neighborhood Assistance Program (NAP) credits are a powerful incentive designed to encourage private investment in community development and charitable projects throughout the state of Virginia. Through the Virginia Department of Education, the NAP program provides tax credits up to 65% to individuals and businesses that make donations to approved 501 (c) (3) nonprofit organizations providing neighborhood assistance in the form of education to low-income persons or eligible students with disabilities. These tax credits can then be applied against their Virginia state income tax liability, reducing the amount of tax they owe.
Benefits of Virginia NAP credits
Supporting Community
Development
By participating in the NAP program, donors directly contribute to the growth and vitality of their communities by supporting essential services and programs provided by nonprofit organizations.
Tax Advantages
Donors receive a dollar-for-dollar reduction in their Virginia state income tax liability for their eligible donations, making it an attractive option for individuals and businesses looking to maximize their charitable contributions.
Flexibility
NAP credits can be applied to various types of Virginia state income taxes, including corporate income tax, individual income tax, bank franchise tax, insurance premiums tax, and more.
Participating in NAP with Elk Hill
Virginia taxpayers, whether individual or married couples, who contribute a minimum of $500, and businesses that donate $616 or more to Elk Hill, are eligible for tax credits of up to 65% of the total donation amount.
The following types of individual donations may qualify for NAP tax credits:
✓ Check ✓ Credit Card ✓ Electronic Funds Transfer ✓ Payroll Deduction ✓ Marketable Securities
Elk Hill receives a limited quantity of NAP tax credits annually (our fiscal year is July 1 - June 30). For confirmation of availability and reservation of your credits, please reach out to Elk Hill's Chief Philanthropy Officer, Kathleen Lefcourt at (804) 877-8613 or philanthropy@elkhill.org. Credits are distributed on a first-come, first-served basis.
For more on VA eligibility requirements visit the Virginia Dept. of Education here.
Access the VA NAP form for individuals and buisnesses.