Tax time is just around the corner. Tax credits that contribute to not-for-profit organizations can serve the purpose of benefiting the organization and the taxpayer.
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Tax time is just around the corner. Tax credits that contribute to not-for-profit organizations can serve the purpose of benefiting the organization and the taxpayer.
Bethel Hills Community in Dutzow has been approved by the Missouri Dept. of Economic Development to participate in its Neighborhood Assistance Program. Qualified donors can make it possible for Bethel Hills to make significant improvements in their community, including repaving roads, repairing sidewalks and driveways, install ADA compliant power doors and add needed handrails.
“By the end of June we must complete this project,” said Bethel grant writer Linda Buschman. “We have another $75,000 to raise to cover all the costs of the project.”
Buschman said that projected improvements will begin as soon as the weather improves. Because Bethel is in a rural community, the 70 percent tax credit applies.
Connecting the sidewalks to the events center and the chapel will be a huge improvement to the residents at Bethel according to Buschman.
“We will add two driveways so residents can load and unload closer to the buildings,” said Development Director Dennis Kramme. “The main road will be paved from the entrance to the pavilion and the parking lots will also be paved. A paved walkway will be added so residents can easily walk to the chicken house and the greenhouse.”
The Bethel Hills Community has been authorized to raise $430,053 in Missouri tax credits. Those qualified to participate in the program include businesses, sole proprietorships, farmers, landlords, shareholders in a S-corporation, partnerships and LLCs. The minimum gift is $1,000, which allows for $700 in tax credit, as an example.
Buschman said if the taxpayer itemizes on their tax returns, a portion of the donation may also be claimed as a deduction.
“The benefit of this program is that the taxpayer gets to decide where their Missouri taxes go,” said Buschman. “Reach out to your tax preparer to see if this program is a good fit for you.”
“You are going to pay taxes one way or the other,” said Kramme. “You might as well benefit an organization you support. When you are working on your Missouri State Income Tax, consider a donation to this program.”
Bethel Hills is a faith-based community that was established in 2021. It is located in Dutzow on 127 acres. It is unique in that it offers affordable housing to people with or without disabilities. It encourages the sense of neighborhood, where people of different backgrounds live, learn and worship together.
To learn more about the community, visit bethelhills.org.