First Selectman Mike Tetreau announced today that the Town of Fairfield had received nine applications from local non-profits for consideration under the 2014 Neighborhood Assistance Act (NAA) program.
The NAA program is designed to provide funding to State-approved community programs conducted by municipal agencies or community non-profit organizations. The community programs must first be endorsed by the host municipality prior to submission to the State Department of Revenue Services. If subsequently approved, the NAA allows businesses to claim a State tax credit for cash contributions made to these community programs.
The program is structured so that businesses that make charitable contributions to a qualified program are eligible to receive a credit, valued at 60% to 100% of the amount contributed, on their State Corporate Income Tax. The minimum contribution on which a tax credit may be granted is $250, and the maximum contribution that any non-profit or municipal entity can receive under this program is $150,000. There are no local funds involved.
The types of community programs that qualify for the NAA tax credit program include, but are not limited to: energy conservation; employment and training; child care services; neighborhood assistance; substance abuse; open space acquisition; crime prevention programs; and affordable housing development.
The Town received the following applications by the April 28th deadline:
- Wakeman Boys & Girls Club – After School Programming
- Wakeman Boys & Girls Club - McKinley Elementary School Outreach
- Operation Hope of Fairfield – Community Hunger & Homelessness Services
- Pilot House - Therapeutic Riding & Vocational Support
- Notre Dame High School – Energy Efficiency Upgrades & Construction
- Notre Dame High School – Educational Outreach & Operating Support
- Fairfield Theatre Company - Saturday Kids
- CT Challenge - Cancer Survivor Wellness Program ($150,000)
- Junior Achievement of Western CT – Financial Literacy & Life Skills Development
The Town will conduct a required public hearing on these applications as part of the May 7th Board of Selectmen meeting.
For more information about the applications received or the NAA program in general, please contact Mark Barnhart, Director of Community & Economic Development at (203) 256-3120.