Want to make a difference and receive valuable tax credits?
Henrietta Johnson Medical Center is pleased to announce that it has received notification of the Neighborhood Assistance Act (NAA). This program encourages businesses and individuals who pay Delaware state income taxes to invest in programs serving impoverished neighborhoods or low and moderate income families. In exchange for a qualified contribution, the NAA provides tax credits equal to 50% of the investment. Each year a maximum of $500,000 in tax credits is available statewide. The maximum tax credit available to any taxpayer is $100,000.
Non-profit eligibility requirements:
1. Organizations must be designated as a 501(c)(3) organization by the IRS and document that they provide neighborhood assistance in an improverished area, or provide neighborhood assistance for low and moderate income families. This includes Community Development Corporations or Community Based Development Organizations.
2. Non-profits may be considered eligible if the assistance meets the NAA Program definition qualified purpose, including any of the following:
- Community Services
- Crime Prevention
- Economic Development
- Education
- Affordable Housing
Taxpayer Eligibility Requirements
1. The NAA Tax Credit is available to any individual or business paying income tax Delaware and whose contribution is made to an approved NAA non-profit organization.
2. Contributor must meet the minimum contribution amounts
- Business: $10,000
- Individuals: $5,000
3. Maximum contribution cannot exceed $200,00 per year.
Please contact Ephraim Kaba, CFO for more information and the required form for your tax credit at (302) 655-6187 ext. 232 or email ekaba@hjmc.org