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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