News and Stories: Planned Parenthood of Indiana Delighted to Again Take Part in Tax Credit Program
(Indianapolis) –Planned Parenthood of Indiana (PPIN) is delighted to announce that the state has awarded it $6,000 in 2011-2012 Neighborhood Assistance Program (NAP) tax credits. The NAP program helps organizations leverage donations. PPIN's participation this year was initially denied because of the passage of HEA 1210, which attempted to strip Medicaid funding from PPIN. However, it appears the Indiana Housing and Community Development Authority (IHCDA) reconsidered the denial when a federal judge issued a preliminary injunction to prevent the defunding portion of HEA 1210 from taking effect.
"We received a letter from the state on July 29 announcing the award," said PPIN President and CEO Betty Cockrum. "We were surprised and thrilled to once again be able to offer donors this fundraising tool, which we have been using with great success for the past two years."
The NAP program offers up to $2.5 million in tax credits annually for distribution by 501(c)3 not-for-profit corporations. Organizations such as PPIN use the credits to help them leverage more contributions from individuals and businesses for certain neighborhood-based programs and projects. The tax credits are distributed to donors at 50 percent of the contribution amount and are subtracted from a donor's state income tax liability.
In the two years since PPIN began utilizing NAP credits, it has raised $21,238 for the preventive health care it provides to low-income women and men in Marion County. The credits have been such a beneficial tool for Planned Parenthood that the organization has repeatedly and quickly run out of available tax credits for donors. The organization anticipates it will be able to raise an additional $12,000 thanks to the state's reconsideration and award.