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Tax Credits | |||||||||||||||||||||||||||
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Hope House Foundation is a non-profit 501c3 agency. All donations are tax deductible and will help provide supported living services for adults with developmental disabilities in Hampton Roads. Plus, Hope House Foundation is a certified NAP Tax Credit Agency. This means you may be able to recapture up to 65% of your contribution to Hope House through Virginia Neighborhood Assistance Program tax credits. If you would like to make a donation by check, please contact Corey Portalatin-Berrien at 757.625.6161 or cportalatin@hope-house.org for more information. What is the Virginia Neighborhood Assistance Program?The Virginia Neighborhood Assistance Program is a unique program developed by the Commonwealth of Virginia that provides state tax credits as an incentive for businesses and individuals to contribute directly to non-profit organizations that serve economically disadvantaged citizens, such as Hope House. We are one of the few organizations in Virginia which are approved to distribute these tax credits. To qualify for tax credits, individuals or married couples must make cash donations of at least $500. They will then receive credits in the amount of 40% of the donation, or $200 in state tax credits for a $500 donation. Businesses must make a minimum donation of at least $1000. Business contributions may be in the form of cash, goods, stock, real estate, professional services, contracting services, and rent or lease of Hope House facilities. If your donation qualifies for tax credits, you can recapture up to 65% of your contribution – 40% in state tax credits, plus about 25% in state and federal deductions. It’s a great way to reduce your tax liability and support Hope House at the same time. The Hope House Foundation tax credit program runs on an annual basis. Please call our office to determine tax credit availability. Please note that for the time being, donations made online are not eligible for tax credits. To find out more, contact Corey Portalatin-Berrien. | |||||||||||||||||||||||||||
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