AJC is an approved organization under the Neighborhood Assistance Act Tax Credit Program for Education (NAP), administered by the Virginia Department of Education. The NAP program allows individuals and businesses to receive state tax credits, equal to 65% of the qualified donation, for eligible contributions made to approved neighborhood organizations.
Individuals and businesses that make a qualified donation of cash or marketable securities will receive tax credits in Virginia equal to 65% of the donation. Unlike a tax deduction, a tax credit reduces a donor’s tax bill dollar-for-dollar. See examples below of how the NAP tax credit program benefits taxpayers – those who itemize, and those who do not.
Highlights:
Tax credit of 65% applies to the year of the donation and may be carried over for five succeeding years
Minimum donation is $500; maximum is $125,000 annually for individuals/married couples; no limit for businesses
Donations may be monetary and/or marketable securities
AJC has a limited number of tax credits, so donors who give $500 or more are eligible for these benefits on a first come basis. For gifts of $10,000 or more, contact Katherine Reid at [email protected] to determine the availability of tax credits. For gifts of securities, please email Laura McGowan at [email protected] for instructions.
