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(Bluefield)—Donors to the Neighborhood Investment Program (NIP) through the Bluefield State College Foundation can partner with the College to benefit future students on multiple fronts. Their gifts will provide scholarships for low income and disadvantaged students to attend BSC, while also rebuilding the College’s allotment of NIP credits in future years.
“Our (2006-2007) NIP credits for the current year (2006-2007) have already been dispersed,” explained Karen Harvey, BSC’s Director of Institutional Advancement and Planning. “Private donors and organizations are now invited to join us in seeking additional NIP credits for this year by writing letters that document their intention to give the BSC Foundation through the NIP program. These documented intentions are required for the application to seek additional NIP tax credits for the current year and concurrently expand the amount of the NIP award the BSC Foundation can receive in future years.”
In addition to the standard federal tax deduction for charitable contributions, donors to the NIP have the opportunity to receive up to a 50 % West Virginia state tax credit. “For a gift of $500 or more, the State allows nonprofit organizations who are NIP participants to di sburse tax credit vouchers for 50 % of the amount of the gift,” Harvey observed. “The credits are used by the donor over a five-year period, and credits may overlap (i.e., donors can use multiple years’ credits in a single tax year).”
“Each letter of intention will be included in our application for additional credits,” she continued. “We look forward to the opportunity to work with donors for the benefit of deserving students at Bluefield State College.”
For additional information, interested individuals and organizations are encouraged to contact Karen Harvey by phone (304 327-4031) or e-mail ( kharvey@bluefieldstate.edu)
February 19, 2007
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