The Eastern West Virginia Community Foundation is offering West Virginia residents NIP Tax Credits for qualifying gifts made to the Foundation. Thanks to the West Virginia Development Office Neighborhood Investment Program (NIP), West Virginians can actually reduce their state tax liability by up to 50%. A $1,000 gift to the Community Foundation translates into an actual $500 savings in West Virginia state taxes.
“Tax credits can help donors make sizable gifts that will benefit favorite charities this year, and forever,” says Michael Whalton, executive director of the Eastern West Virginia Community Foundation. NIP tax credits can save taxpayers up to 50% of what they own in WV State taxes while supporting important nonprofit programs. “We are focusing on growing our unrestricted endowment so we can address the most pressing needs in our community,” stated Whalton. Thirty-percent of all NIP eligible gifts is being directed to our Community Impact Funds in the five counties we serve – Berkeley, Jefferson, Morgan, Hampshire, and Hardy.”
For more information, guidelines, eligible funds, and instructions, please visit: https://www.ewvcf.org/nip-tax-credits/