Neighborhood Investment Program (NIP) tax credits are available to businesses and individuals interested in supporting student scholarships at New River Community and Technical College. This year New River CTC Foundation has been awarded $57,500 in NIP tax credits.
NIP was established in 1997 by the West Virginia Legislature to encourage charitable giving to local non-profits. It is administered by the West Virginia Development Office, and NIP is the only state tax incentive available for charitable gifts. Donations are also eligible for a federal deduction.
By donating to New River CTC Foundation, contributors can support their community and earn tax credits to reduce West Virginia personal income tax, business franchise tax or corporate net income tax. New River CTC Foundation awards the credits to eligible donors on a first-come, first-served basis. Businesses and individuals who donate $500 or more to the Foundation are eligible to receive 50 percent of the contributed amount in the form of state tax credits.
“As a direct result of NIP tax credits, New River CTC Foundation had a record year, awarding more than $85,000 in scholarships to students enrolled in degree and certificate programs at the College. This program is single handedly the largest tool we have in raising funds to assist our students in pursuing their dream of obtaining a degree or workforce certificate.” said Michael Green, Interim Executive Director at the Foundation.
“The NIP scholarships allow our students seeking additional financial aid to attend college, and it is made possible by our many wonderful donors. These are the students with the greatest financial need whose lives can be improved the most with workforce training and education programs,” said Green.
New River Community and Technical College serves nine counties in southeastern West Virginia from the Greenbrier Valley Campus (Lewisburg), Mercer County Campus (Princeton), Nicholas County Campus (Summersville), and Raleigh County Campus (Beaver/Beckley).
Last updated on: Oct 30, 2017