Tax Credits
As you file your state tax return, you are allowed to “redirect” your tax dollars to help children in crisis through the Missouri Champion for Children Tax Credit. Your gift is a 50% tax credit, which is more valuable than a tax deduction. A tax credit will help you reduce your overall state tax liability and is not impacted by your tax withholdings during the course of the year*.
The Champion for Children (CFC) Tax Credit is a unique tax credit offered by the state of Missouri to give back to those serving children in crisis. The Child Advocacy Center of Northeast MO is one of the qualifying programs in the state that is eligible to issue these credits. Any contribution with a donation value of $100 or more is eligible for a tax credit of up to 50% of the amount of the qualifying donation.
Eligible Donors
- Eligible donors are any individual or corporation with a Missouri income tax liability and make a financial contribution of $100 or more to The Child Advocacy Center of Northeast MO.
How Do Tax Credits Work?
- As with most charitable donations, the donor may claim a federal income tax deduction. With Missouri Tax Credits, the donor may also take a 50% state tax credit to the limit of their taxable income
- Tax credits may be applied to the tax year in which the donation was made or any portion of the tax credit not claimed may be carried over to the next four succeeding tax years. The credit is nonrefundable.
- Unlike a tax deduction, a tax credit can be used regardless if you itemize or not and is taken directly off of your tax burden. For example, if you make $30,000/year and you pay 6% of that in State of MO taxes, this would be $1800 tax due at the end of the year. If you donated $200 to The Child Advocacy Center of Northeast MO, you qualify for a $100 tax credit (50% of the donation) to be taken off of your $1800 tax bill.
How Do I Apply for Tax Credits?
- Make a donation to The Child Advocacy Center of Northeast MO online or direct mail giving before midnight on December 31.
- Eligible $100+ donors with Missouri income will receive an acknowledgement letter and tax credit application form with instructions at the end of January.
- Specific for The Child Advocacy Center of Northeast MO, there is no benefit or tax certificate number associated with the Champion for Children Tax Credit. Tax preparer will leave section blank.
- For questions, contact us at info@cacnemo.org or 636.332.0899.
* Tax credit benefits vary. Consult your tax advisor to learn how tax credits can work best for you
Additional Information on our tax credit programs can be found by visiting:
Champion for Children (CFC) Tax Credit by Missouri Department of Revenue. Any monetary contribution with donation value of $100 or more is eligible for a tax credit of up to 50% of the amount of qualifying donation.
TLDR: Give us money – over $100. We’ll mail you an official document (already filled in…you’re welcome) in January. Give that to your tax preparer. Up to 50% of any donation you made to us may be taken off your Missouri State Taxes. The other 50% of your donation is eligible for federal and state tax deductions. Donate to help children healing from abuse and save on your taxes.