Neighborhood Investment Program (NIP) tax credits are available to support student scholarships at New River Community and Technical College.
The West Virginia Development Office issues NIP tax credits to approved nonprofit organizations, and the New River CTC Foundation has been awarded $48,000 in tax credits for 2022. NIP is the only state tax incentive for charitable gifts.
“NIP tax credits and our Foundation provide a true win-win-win scenario. New River CTC students benefit from scholarships, donors benefit from tax credits and the New River CTC Foundation benefits from the standpoint of serving our community,” explained Executive Director of Institutional Advancement and the New River CTC Foundation Michael Green.
Charitable contributions of cash, stock or personal property valued at least $500 are eligible to receive 50% of the donated amount in tax credits toward personal and corporate income taxes.
“For those seeking to make an impact, contributions toward education are life-changing,” Green said. “Our students are incredibly thankful to receive these scholarships.”
The NIP scholarships offered through the New River CTC Foundation are designated for low-income students in need of additional financial aid to attend college.