West Virginia Department of Commerce Neighborhood Investment Program

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Neighborhood Investment Program



The Neighborhood Investment Program

We have chosen the dates for the Mandatory NIP Workshops. They will be held in:

  • Charleston on Thursday, May 11, 2017
  • Morgantown on Thursday, May 18, 2017

Registration for both is from 12:30-1:00 p.m. and the workshop is from 1-3 p.m. There is no cost to attend the workshop.

Feel free to spread the word and to bring someone with you, just be sure to register everyone attending. The link to register for either one is below.

Charleston FY 2018 NIP Mandatory Workshop on Eventbrite
https://www.eventbrite.com/e/mandatory-nip-workshop-charleston-tickets-33246204292

Morgantown FY 2018 NIP Mandatory Workshop on Eventbrite
https://www.eventbrite.com/e/mandatory-nip-workshop-morgantown-tickets-33245700786

 

 

Description: Tax credits

Purpose: The Neighborhood Investment Program (NIP) was established by the West Virginia Legislature to increase charitable giving to local nonprofit organizations. The program allows 501(c)3 designated charitable organizations to apply for tax credit vouchers. These organizations distribute the vouchers to businesses and individuals who contribute to the organizations. By donating to approved NIP organizations, contributors can support their communities and earn credits to reduce certain West Virginia taxes. 

Description: The West Virginia Legislature sets aside $3 million annually in state tax credits for the NIP. To participate, a 501(c)3 charitable organization must apply to the West Virginia Development Office. Upon meeting program requirements and obtaining approval from the NIP Advisory Board, organizations are awarded tax credit vouchers. Businesses and individuals that contribute to NIP-approved organizations are eligible to receive up to 50 percent of the contributed amount in the form of state tax credits. Donors may use the credits to reduce liability for the:

  • Corporate Net Income Tax
  • Personal Income Tax

A list of approved NIP organizations is available from the West Virginia Development Office NIP Participant Directory.

 

Eligible activities: Projects generally eligible for program participation include but are not limited to the following:

  • Health clinics
  • Homeless shelters
  • Educational programs
  • Housing programs
  • Preservation/revitalization activities
  • Domestic violence shelters
  • Children's shelters
  • Meal delivery programs
  • Senior citizens' centers
  • Community foundations
  • Scholarship programs
  • Hospice care
  • Transportation programs
  • Day care centers
  • Counseling services
  • Services for the disabled

Eligible applicants: Tax credit vouchers are awarded to organizations that are designated as 501(c)3 by the IRS and registered with the West Virginia Secretary of State's office as charitable organizations. Preference will be given to organizations that:

  • Are community based
  • Serve highly distressed neighborhoods or communities
  • Serve primarily low-income individuals
  • Collaborate with other organizations
  • Are novel, creative or unique in approach
  • Have a history of maintaining low administrative costs
  • Demonstrate the ability to deliver the proposed services
  • Demonstrate a strong need for the proposed services

Contact: For additional information about the Neighborhood Investment Program, please call the West Virginia Development Office at (800) 982-3386 or (304) 558-2234.

Neighborhood Investment Program
Neighborhood Investment Program

The NIP was established to increase charitable giving to local non-profit organizations. The program allows 501(c)3 designated charitable organizations to apply for tax credit vouchers.

NIP Tax Incentives
NIP Tax Incentives

Donors who give to any of the 200 nonprofit projects in the NIP can get credit on certain state taxes.