Think you can’t benefit by tax credits or that it’s too complicated? Think again!
You may think that claiming your charitable donations on your tax returns is good enough. It is. Good enough. Tax credits are even better because they give you an added 50% in addition to your typical charitable deduction!
Good Shepherd offers charitable tax credits made available by the State of Missouri. Tax credits are a triple-win benefit! They encourage your philanthropic support of the Good Shepherd mission to assist foster youth. They help Missouri develop and maintain good healthy communities. And, they reward you for your generosity.
Here is an example of how a tax credit works. Let’s say you are in the 35% tax bracket and contribute $1,000 to Good Shepherd:
You take your standard Federal tax deduction. ($350)
You take the standard Missouri state tax deduction. ($60)
You receive a Missouri tax credit equal to 50% of the gift. ($500)
You take a reduction in the Federal tax deduction for state income taxes paid. ($196)
The total out-of-pocket cost for a $1,000 donation to Good Shepherd is $286!
We offer Youth Opportunity Program tax credits through the Department of Economic Development. Your donation supports education and life skills training for foster youth living in the Good Shepherd residential facility.
We also offer Maternity Support tax credits through the Department of Social Services. Your donation supports education and life skills training for young mothers in the Maternity facility to transition to a less restrictive home environment.
And, we make it easy for you. After you send your donation, we send you the form. After you return the one-page completed form, Good Shepherd sends it to the State.
Help Good Shepherd, Missouri and yourself by making a donation using tax credits today. Call Mike Whelan, Development Director at 854.5705 for more information.