NEIGHBORHOOD ASSISTANCE PROGRAM (NAP)

Award Training 2008-2009

Agenda

Community Development Staff (see Map) Program Trends Contribution Policy Requirements Semi-annual Reporting Forms De & Re-allocation Modification Procedures Close-out Procedures

Program Trends

$2,500,000.00 credits awarded annually

177 applications received totaling $5.84 million requested tax credits 172 applications awarded

Housing activities: received 50% of request

Other Community Development activities: received 41.6% of request

Program TrendsFunding Summary 2008-2009

Average Award Amount 14,546.78$ Median Award Amount $ 14,996.17

% of Applications Receiving Allocation 97.18%

AWARD SUMMARYTax Credits Available 2,500,000.00$

Eligible Tax Credit Requests $

ALLOCATION RATE

5,842,525.00

41-50%

Program Trends# of

Organizations Applied

# of Allocated Organizati

ons Funded

Amount of Allocated

Tax Credits

Average Award

Amount

Affordable Housing

30 30 $469,000.00 $15,633.33

Counseling 32 30 $456,197.10 $15,206.57

Medical Care 24 24 $326,166.74 $13,590.28

Emergency Shelter

17 17 $302,687.50 $17,805.15

Child Care 15 15 $221,089.40 $14,739.29

Emergency Food Assistance

14 14 $219,769.40 $15,697.81

Educational Assistance

19 18 $207,971.90 $11,553.99

Recreational Facility

12 12 $167,565.14 $13,963.76

Job Training 4 4 $70,815.26 $17,703.82

Transportation Services

7 7 $48,737.56 6,962.51

Downtown Revitalization

2 1 $10,000.00 $10,000.00

TOTAL: 177 172 $2,500,000.00 $14,534.88

Contribution PolicyEligibility

Eligible Donors Any person, business, or

organization that has an Indiana income tax liability

Contribution Policy

Eligible Contributions Cash Check Credit card Stock (that has been sold) United Way Designations Property (that will be used for NAP

activity) In-Kind donations (limited to building

materials)

Contribution PolicyDonations

Tax credits = 50% of contribution amount Calendar year that contribution was given Minimum Donation = $100 Maximum Donation (per calendar year) =

$50,000 Donations begin July 1, 2008 and end June

5, 2009

Contribution PolicyTax Credit Limits

Minimum Tax credit: $50 Maximum Tax credit (per calendar

year): $25,000

Contribution PolicyMinimum donation

If donor contributes several small donations that add up to an amount greater than minimum contribution : All contributions must be turned in to

IHCDA at the same time Grouped contributions must be in same

calendar year List only the last date of the multiple

contribution dates on the NC-10 form, short form and spreadsheet

Contribution Policy

Ineligible Contributions Services and/or Labor (No Sweat Equity) Supplies Equipment Non-stationary building materials

Semi-Annual Reporting (2 reports per program year)

Expenditure and Reporting Requirements

Mid-year Report(1st & 2nd quarters)

January 9, 2009

Year-End Report(3rd & 4th quarters)

June 5, 2009

Contact your Community Development Representative immediately if problems arise.

Semi-Annual Reporting

Recipient must turn in an electronic copy of report and corresponding short forms by each deadline

If unable to meet deadline recipient must contact IHCDA rep. prior to deadline to avoid penalty

Failing to meet either deadline for semi-annual reporting will result in ineligibility for NAP in 2009-2010 program year

Semi-annual Reporting

IHCDA will assist Recipients in meeting deadline by:

1. Sending e-mail reminder of Semi-annual Report Deadlines

2. Sending e-mail update to organizations that did not submit Semi-annual Reports

3. Providing performance report at the end of Program Year 2008-2009

Semi-annual ReportingReporting Forms

NC-10 Form and Short Form Identifies the donor and ensures correct

account receives the tax credit Complete for all donations that receive a

NAP tax credit Both the organization and donor

completes Short form added to ensure

confidentiality

Semi-Annual ReportingNAP Spreadsheet

Lists all donor names, addresses and amounts Determining contribution dates – see manual Where do we send all the forms?

To IHCDA: Spreadsheet saved on CD-Rom Short Forms

To IN Dep’t of Revenue (DOR): NC-10 Forms DOR Address – Indiana Department of Revenue

Tax Administration – Support Division

100 N. Senate Ave. – Room N203

Indianapolis, Indiana 46204

Semi-annual Reporting

IHCDA reviews Spreadsheet and Short Forms Organizations will be contacted to resolve

any discrepancies between short forms and spreadsheets. ALL INFO. ON BOTH MUST BE IDENTICAL!

IHCDA uploads spreadsheets to the Dept. of Revenue.

DOR generates NC-20 Form (within 7-10 business days of receipt)

Tax Credit De-Allocation

De-Allocation Policy Must meet utilization requirements

60% - mid year 100% - year end

De-allocated up to utilization requirements

Tax Credit Re-Allocation

Requirements: Utilized 100% of original award amount Report submitted by Re-allocation deadline Optional for agencies that want to become

eligible for a re-allocation Tax credits available for re-allocation

divided among all organizations who meet requirements

Receives up to Application Tax Credit Request

Tax Credit Re-allocation

By October 3, 2008: 100% of tax credits sold Short forms and electronic spreadsheet

submitted to IHCDA Tax credits will be re-allocated after all Mid-

year reports have been received Designed to be a competitive process Re-allocated agencies will be expected to

meet same expenditure rates as originally outlined in their award agreement

Other Procedures

Modifications Close-Out

Submitted at time of activity completion via mail

Requires original signature by authorized signatory

No later than June 30, 2010

Conclusion

Implementation Manual online at:http://www.in.gov/ihcda/3099.htm