Dear IPS Education Foundation (IPSEF) Supporters,
We are excited to announce that the IPSEF has been awarded $5,814 in tax credits through the Neighborhood Assistance Program (NAP) by the Indiana Housing and Community Development Authority for the 2013-14 Fiscal Year. The credits are currently available for purchase as of September 6, 2013 and will be used for our “Teaching with Technology” program to get vital learning hardware and software into IPS classrooms.
Anyone with an Indiana tax liability who donates money to the IPSEF under the NAP program will receive a state income tax credit equal to 50% of the gift pending her/his tax liability to the state. And, if you itemize deductions, 100% of your contribution is deductible on your federal tax return.
For example, if you make a gift of $1,000, your state tax (NAP) credit would be $500. This means the IPSEF receives a $1,000 gift from you, and it only costs you $500 (maybe less depending on your Federal deductions).
If you prefer to make a smaller gift, as long as it meets the state minimum of $100 (for a $50 tax credit), you will still make a positive impact on the students we serve. A tax credit is much more than just a deduction–it comes right off the top of your state income tax liability. And your gift to the IPS Education Foundation goes directly into the classroom! Talk about a win for everyone!
To receive your tax credit, please contact Linda to receive a NAP credit form and send it along with a check made out to the IPS Education Foundation. You may also make an immediate gift online with a credit card and send in your completed NAP credit form.
The tax credits are limited and are available on a first come, first served basis so don’t delay! After receiving your gift and NAP credit form, we will complete the paperwork to process your credit. We must receive the NAP credit form to qualify your gift for the tax credits.
Not only do we want to meet our goals to get technology into classrooms, but if we sell ALL of the credits as fast as we can, we have the opportunity to apply for more, which we can then use as a benefit for new donors as we tell our story throughout our city.
If donating by check, please make out to the IPS Education Foundation. Send your NAP credit form to:
IPS Education Foundation
120 E. Walnut St., Room 114E
Indianapolis, IN 46204
Thank you so much for everything you do. If you have any questions, please call or email right away!
P.S. You are welcome to contact me in advance of your gift to verify that we have credits remaining.