A business contributing to the ACCESS College Foundation may receive a state tax credit equal to 40% of their total contribution. The minimum eligible contribution for a business is $1,000 and the maximum donation is $437,500 per business, per taxable year.

Example:
Minimum: $1,000 donation x .40 = $400 tax credit
Maximum: $437,500 donation x .40 = $175,000 tax credit
Business contributions may be in the form of cash, goods, stock, real estate, professional services, contracting services and rent or lease of the participating non-profits' facilities.

Note: Valuation of donated gifts determined in accordance with IRS standards (Publication 561.)

Exception to IRS Standards:
The value of merchandise donated to be sold, auctioned, or raffled is the lesser of the actual book cost of the items or the proceeds received by the ACCESS College Foundation.

Process:
Once the ACCESS College Foundation receives a qualified donation over $1,000, the business will receive a NAP tax credit Contribution Notification Form. Once this form is completed by the business’ contact person and returned to the ACCESS College Foundation, the form is forwarded to the Department of Social Services. The donor will receive a letter from the ACCESS College Foundation confirming receipt of the Contribution Notification Form. In approximately 4-6 weeks, the business will receive a NAP tax credit certificate from the Department of Social Services to be included with its State Tax Return.