The Virginia Department of Social Services (VDSS) runs a program that lets people and businesses get state tax credits when they give money to approved non-profit groups. These groups must help people with low income.
The approved groups in the Neighborhood Assistance Program (NAP) for this year are listed here. The annual program year is from July 1 to June 30. The current Contribution Notification Forms (CNF) can be found here.
Before you give, you must check with the Neighborhood Assistance Program group to make sure tax credits are still open. Neighborhood Assistance Program tax credits are limited. Each group gets a set amount of credits each year.
Approved gifts can earn Neighborhood Assistance Program tax credits of up to 65 percent of the gift value.
A donor may get tax credits at a lower rate. The donor should fill out the Tax Credit Percentage Agreement Form if they choose to get less than 65 percent of the gift value in tax credits.
The donor is responsible for knowing how tax credits affect their taxes. Donors should talk with a tax expert before they give, or if they have tax questions during this process.