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Read Aloud WV Awarded NIP Tax Credits

Mountain Media by Mountain Media
September 8, 2020
in Local Stories
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CHARLESTON, WV (September 1, 2020) – Local literacy organization Read Aloud West Virginia has received a sizeable number of Neighborhood Investment Program (NIP) Tax Credits. NIP credits are administered by the state to encourage donations to local nonprofits.

For example, a donation of $1,000 qualifies for up to $500 in NIP credits off of West Virginia personal income or corporate net income taxes. That means donors can have a $1,000 impact for a bottom-line cost of only $500.

Read Aloud’s mission is to motivate children to read for fun, which research shows makes kids better readers and has a large impact on academic and career success. Every dollar donated to Read Aloud results in more time spent coordinating with families, schools, and volunteers to get kids the tools they need to grow their reading skills. And the sooner donors give, the better, according to Communications & Development Director, Amanda Schwartz.

“Donations in the fall enable us to plan ahead for literacy projects in the spring and summer,” Schwartz says. “The earlier we have funding in hand, the more impact we can make. Also, credits are administered first-come, first-served, until they run out.” Read Aloud has remained on mission throughout the pandemic, adapting book distributions and volunteer classroom reading efforts to meet the new conditions and needs. “We are busier than ever, and our donors make all this work possible,” says Executive Director Dawn Miller.

If you’re interested in giving early and helping Read Aloud improve the literacy climate in WV, you can:

•                    • Mail a check to Read Aloud WV, PO Box 1784, Charleston, WV 25326 (this is preferred, as there are no fees associated with your donation and Read Aloud receives the full amount to put towards programs).

•                    • Click the Donate button at readaloudwv.org to make a secure donation through Square.

•                    • Go to paypal.me/readaloudwv to make a secure donation through PayPal.

 

The minimum donation to qualify for a tax credit is $500 and the maximum is $200,000. Donors have five years to use their credits. The maximum tax credit allowed in any one year is $100,000. Donors cannot reduce their total state tax bill by more than 50%. If you have any questions, contact Read Aloud headquarters at (304)345-5212.

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