Mathews-Dickey Boys’ & Girls’ Club

Outline of Tax Credit Programs for Mathews-Dickey Boys’ & Girls’ Club
SUMMARY: The Missouri Department of Economic Development has awarded $394,204 in tax credits to the Mathews-Dickey Boys’ & Girls’ Club through two programs.

Youth Opportunities Program (YOP) - Project #: 2005-36055
The Club has received $210,355 in tax credits to assist with raising $420,710 for the Five-Entity Initiative. The initiative supports the Club’s Education, Career, Cultural, Leadership & Outreach programs.

A donor to the Club’s Five-Entity Program receives a 50 percent tax credit for a monetary contribution and 30 percent credit for property or equipment contributions used specifically for the project. (Eg. - If a sponsor donates $1,000, they may claim a $500 tax credit on their Missouri State Income Tax Return. If they donate a computer, valued at $1,000, to Five Entity Program, the sponsor could claim a $300 tax credit on their return.) The duration of the fund-raising period is April 1, 2005, to December 31, 2008.
Neighborhood Assistance Program (NAP) - Project #: 2006-36206
Mathews-Dickey is approved for $183,849 in Neighborhood Assistance Program (NAP) tax credits. The credits will enable the Club to raise $367,698 for the Facilities Fund - designed to renovate the infrastructure of the organization’s 23-year-old facility on Kingshighway. Donors receive a 50 percent credit for monetary and in kind contributions. (Eg. - If a sponsor donates $1,000 or property valued at that amount, they may claim a $500 tax credit on their Missouri State Income Tax Return.)

NAP credits may be claimed by Businesses only. Individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income are also eligible, as well as a shareholder in an S-corporation, a partner in a Partnership or a member of a Limited Liability Corporation. The duration of the fund-raising period is July 1, 2005, to June 30, 2008.

ELIGIBLE CONTRIBUTIONS: Eligible contributions for credits include: cash, stocks and bonds; materials, equipment, or property specifically used for the Five-Entity Initiative or Facilities Fund Fund; and wages paid to youth workers in the project.

INELIGIBLE CONTRIBUTIONS: Contributions of labor and professional services; to pay for fund raising activities and used clothing are ineligible for the credit.

PROCEDURES FOR CLAMING TAX: The donor makes a contribution to Mathews-Dickey, submits Missouri Department For Ecomonic Development Application for Tax Credits Form CDTC-770 (see attached) with the required documentation to Mathews-Dickey. The Club signs off on the paperwork and submits the documentation to the Department of Economic Development. [Note: To assist donors, Mathews-Dickey will complete the form and send it to the donor for forwarding to the department. A donor has 12 months (from the check date) to submit the tax credit application into YOP/NAP before forfeiting his/her credits.] Within two weeks, the Department of Economic Development sends notice to the donor and Mathews-Dickey that the credit has been processed. The taxpayer may then file their tax return at the end of their tax year. The donor may claim a deduction off their federal return, as well.

TAXES TO WHICH CREDIT CAN BE APPLIED: Donors may apply their tax credit toward several taxes: Chapter 143 - Income tax, excluding withholding tax; Chapter 147 - Corporate franchise tax; Chapter 148 - Bank Tax; Insurance Premium Tax; Other Financial Institution Tax; and Chapter 153 - Express Companies Tax.

FOR MORE INFORMATION: Contact Barbara Washington, vice president, public relations & special events, at (314) 382-5952, ext. 234, or Bill Fronczak, public relations director, Mathews-Dickey, at (314) 382-5952, ext. 234.

Tax Credit Application (pdf file)

Archived News:
(October 7, 2004) Tom Sullivan Inducted Into Saint Louis University Billikens Hall of Fame

(August 2, 2004) Mathews-Dickey PR Executive Launches Scholarship Benefit CD at 10th Annual ‘The Sky Is The Limit’

(April 9, 2004) Travel Channel Turns Spotlight on Mathews-Dickey and "Cedric The Entertainer's St. Louis"

(August 22, 2002) 1 Million Young People Served: Mathews-Dickey Boys’ & Girls’ Club Celebrates 20 Years at Kingshighway Campus by Launching Facilities Improvement Campaign; $250,000 Grant from Enterprise Rent-A-Car Foundation Kicks Off Fund Drive

(April 10, 2001) Mathews-Dickey ‘Brings on the Girls’