The St. Louis Arc has been awarded $250,000 in Missouri state tax credits through the Youth Opportunities Program (YOP). Donors can receive a 50% tax credit for gifts in support of the Arc’s Childgarden early childhood programs.
Who is eligible? Any individual or entity (business, partnership, LLC, S Corp, etc.) with Missouri income tax liability.
What contributions are eligible? Gifts of cash or stock of $1,000 or more
(Note: gifts that come through a third party payer, including donor advised funds and workplace giving campaigns, do not qualify)
How do the tax credits work? You will receive a 50% tax credit for your gift amount, in addition to the standard federal and state charitable deductions. The net cost to you may be as little as 26 cents on the dollar! Also, you can apply the tax credits to the current year or carry them forward for up to five years.
To maximize your tax savings, consider making a gift of appreciated stock that you’ve held for at least a year. You’ll avoid the capital gains tax and still get the deduction for your full gift amount. In the above illustration, if you made a $10,000 gift of stock with a cost basis of $2,000 your net cost could be as low as $1,450!
How do you receive the tax credits? Upon receipt of your gift, the Arc will forward you a YOP application form to fill out and return to us. We will submit the form to the State and you should receive your tax credit certificate in 3-6 weeks.
Have questions? Contact John Taylor at (314) 817-2240 or email firstname.lastname@example.org. Gifts may be made by clicking here or by mail c/o St. Louis Arc, 1177 N. Warson, 63132.
*As with any gift, the amount of your deduction is dependent on your financial circumstances. Consult your tax advisor to determine your specific savings.