July 26, 2013 --- (Wilmington, DE) --- Donations to two Catholic Charities programs may qualify the donor for Delaware state income tax credits under the Neighborhood Assistance Act [NAA] Program. Catholic Charities statewide Basic Needs program, which provides emergency financial assistance and financial coaching, and the Casa San Francisco shelter program, located in Sussex County, are both recognized by the Delaware State Housing Authority [DSHA] for the tax credit.
DSHA has recently announced the NAA FY 2014 authorization of $500,000 is available effective immediately. Therefore, DSHA has resumed accepting NAA applications on a first-come, first-served basis.
The NAA tax credit is available to any individual or business paying income tax in Delaware, as long as the contribution is made to an approved NAA non-profit organization. Two changes have been made to the program. First, there is a reduction in the minimum donation for individual taxpayers. Individual taxpayers may now contribute a minimum of $2,500 to receive an NAA credit. The business minimum remains at $10,000.
Second, there is a legislative change in the annual amount of credit for which any taxpayer (individual or business) is eligible. Taxpayers are eligible to receive up to $50,000 in NAA tax credits in a single tax year and may receive no more than $100,000 in NAA tax credits in any three-year period, beginning July 1, 2013.
In exchange for a qualified contribution, the donor receives state tax credits equal to 50% of their contribution. For example, a contribution of $5,000 qualifies for $2,500 in tax credits. DSHA staff members review applications and award the credits on a first-come, first-served basis.
If you would like to contribute to either Catholic Charities program and receive the tax credit, contact Paula Savini, Catholic Charities Community Relations Director, at 302-655-9624 or via email at [email protected]
Please visit the DSHA website, http://www.destatehousing.com/OtherPrograms/ot_naa.php, to access the most current version of the NAA application and the AC 2001 form, when submitting an application to DSHA. You may also contact Cindy Deakyne at 302-739-4263 or via email at [email protected] with any questions or concerns.
Catholic Charities, serving those in need for over 180 years, offers a wide range of services to strengthen families, care for children, assist the disadvantaged, and build human relationships throughout Delaware and the Eastern Shore of Maryland.
# # #
Contact: Paula Savini