Nonprofits and community groups that want to apply for the Neighborhood Investment Program (NIP) tax credit voucher program must register by May 25 for one of three workshops.
Attending a workshop is mandatory to be eligible to apply for NIP tax credits. Pre-registration is required. To register, visit WVDO.org/NIP by Monday, May 25.
The workshops take place Tuesday, June 2, at the Waterfront Hotel, 2 Waterfront Place in Morgantown; Wednesday, June 3, at the Charleston Marriott, 200 Lee St. E. in Charleston; and Thursday, June 4, at Tamarack, One Tamarack Park in Beckley. On-site check-in begins at 1 p.m. Workshops begin promptly at 1:30 p.m.
Application guidelines and instructions will be made available during the workshop. The deadline to submit a completed NIP application is June 30, 2015. In addition to mandating that applicants attend a workshop, NIP requires that applications must be received on or before June 30 in order to be considered.
The workshops explain the benefits of the NIP program and coach attendees how to successfully complete the program application and record keeping requirements.
For the first time ever, the NIP application will be in an online format using Grant Lifecycle Management software from Foundant Technologies. Participants will learn how to apply for credits using the online system as well as how to manage their NIP donations and submit required reports – all online.
Previously, NIP offered an optional application workshop and a mandatory participants’ workshop. This year, the workshops have been combined into one.
The NIP was established by the West Virginia Legislature to encourage investment in local projects benefiting low-income populations or distressed communities. To participate, qualified 501(c)3 organizations or 501(c)3 project sponsors must apply to the West Virginia Development Office. After scoring and certification by the NIP Advisory Board, the nonprofit organizations or project sponsors are awarded tax credit vouchers to distribute to donors. Businesses and individual taxpayers that contribute to certified projects can earn credits to reduce certain West Virginia taxes.
For additional information about the Neighborhood Investment Program, call the West Virginia Development Office at 800-982-3386 or 304-558-2234.
