GIVINGOpportunities
YOUTH OPPORTUNITIES PROGRAM
Kingdom House has been awarded Youth Opportunities Program (YOP) Tax Credits which help fund various programs for St. Louis City youth ages 6 to 21 that promote positive growth and development.
"An investment in Missouri’s children is an investment in our future. We are pleased to support the work of Kingdom House with these Youth Opportunity Program incentives, which will assist the center’s delivery of important programs and resources that meet the needs of the area’s at-risk youth, especially by helping them prepare for meaningful, rewarding careers. By assisting quality community centers like Kingdom House as they carry out their crucial mission, we can ensure that more Missouri young people have a pathway to rewarding, successfulareers.” Governor Jay Nixon
Here is the link to the YOP form for you to fill out: YOP Form PDF. Call Robert Ringstad at 314-421-0400 with any questions. THANK YOU!!
Jump to these sections:
- Kingdom House YOP Changes Lives from Within.
- How does the YOP Tax Credit program work?
- What are the tax advantages of YOP?
- To make your YOP donation online, click here!
Kingdom House YOP Changes Lives from Within
The state of Missouri developed the Youth Opportunities Program as a way to direct public support toward economically disadvantaged and "at risk" youth. Kingdom House youth programs improve the welfare of at-risk youth and generate outcomes that meet the state's expectations: to increase cooperation, social awareness, positive peer relationships, and family income; improve school performance, work skills, and financial management; and decrease at-risk criminal behavior.
The Kingdom House Youth Opportunities Program includes an After School Program for ages 6 through 14 that provides tutoring, arts and crafts, computer training, fitness, field trips, and a meal each day after school. Our Summer Day Camp operates for eight weeks each summer. Camperships provide inner city children with overnight camping and field trip experiences. Our Sports Program provides organized baseball, basketball and soccer teams seasonally throughout the year.
Activities focus on developing self-awareness, self-esteem, and leadership skills in high-risk, street-wise youth. Teen youth programs include life skills classes and a TREND chapter that emphasizes responsible behavior. Youth improve social relationships through the peer counseling program and guided social group work and life planning sessions.
How does the YOP Tax Credit program work?
WHAT IS A TAX CREDIT? The YOP 50% tax credits, given in return for your eligible donation, are used to reduce your final state tax bill, resulting in a greater tax savings than a deduction from your taxable income.
CAN I STILL TAKE THE FULL FEDERAL DEDUCTION? Yes!
WHAT KIND OF DONATION? Gifts of stock or cash donations are accepted. You may mail a check to Kingdom House made payable to Kingdom House YOP or follow the link below to our online store.
HOW DO I APPLY? Designate your contribution of $500 or more as a YOP contribution. Make check out to Kingdom House YOP or write YOP in the memo. You may donate online by credit card here.
For donations of stock, call us to guide you through a stock transfer at (314) 421-0400 ext 211 or 210. For donations of cash, call us by phone, donate through our online store, or send a check by mail payable to "Kingdom House YOP."
Once you donate to the Kingdom House YOP program, we will send you a tax credit application and instructions. Please return the application to us. We will countersign it then forward it to the Missouri office, who will send you an approval certificate for your tax forms.
WHAT WILL NOT WORK? You may not use credits in excess of your Missouri state tax liability to invoke a refund. The donation may not originate from a tax-exempt trust or foundation. YOP credits cannot be used on taxes from other states or on federal taxes. YOP credits will not be issued unless donations are designated as YOP.
MAY I ROLL OVER CREDITS? Yes, you may carry the credits forward or roll over the balance of unused credits for up to five years.
CAN I STILL TAKE THE FULL FEDERAL DEDUCTION? Yes!
What are the tax advantages of YOP?
DONOR BENEFITS: Significant savings with tax credits are immediate. Up to 50% of your qualified contribution comes off of your income tax liability.
Sample Estimated Out of Pocket Costs (Results vary according to individual Example only; please contact your tax advisor)
$1,000 Contribution (36% Federal/ 6% MO tax bracket)
Estimated Federal Tax Deduction $180.00
Estimated Missouri Tax Deduction $ 60.00
YOP Tax Savings $500.00
Total Estimated Out of Pocket Cost $260.00
What is the eligibility time frame: From now through December 31, 2011
DISTRIBUTION OF CREDITS: YOP tax credits are limited. Therefore, they will be distributed on a first-come, first-served basis.
QUESTIONS: Contact Robert Ringstad, 314-421-0400 or visit our website at www.kingdomhouse.org
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Benefits of Missouri Tax Credits
Determining what specific tax advantages you will receive must involve a review by your CPA, or other tax advisors. Kingdom House can work with you to explain tax credits and provide the required applications.
Following are illustrations of the net after-tax benefits of the tax credits and the use of appreciated stock to make your gift(s).
| Illustration 1 |
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| $1000 INDIVIDUAL GIFT |
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| Appreciated* |
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| Cash Gift |
| Cash Gift |
| Asset Gift |
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| No Credits |
| With Credits |
| With Credits |
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| AMOUNT OF GIFT | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 |
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| IN RETURN, YOU GET: |
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| State Tax Savings (6% bracket) | $ | (60.00) | $ | (60.00) | $ | (60.00) |
| State Tax Credits |
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| $ | (500.00) | $ | (500.00) |
| Federal Tax Savings (35% bracket) | $ | (329.00) | $ | (154.00) | $ | (154.00) |
| Untaxed Capital Gain – Federal (15% rate) |
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| $ | (75.00) |
| Untaxed Capital Gain – State (6% rate) |
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| $ | (30.00) |
| NET AFTER-TAX COST | $ | 611.00 | $ | 286.00 | $ | 181.00 |
| Net after-tax cost per dollar | $ | 0.61 | $ | 0.29 | $ | 0.18 |
| Illustration 2 |
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| $10,000 CORPORATE GIFT |
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| Appreciated* |
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| Cash Gift |
| Cash Gift |
| Asset Gift |
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| No Credits |
| With Credits |
| With Credits |
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| AMOUNT OF GIFT | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 |
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| IN RETURN, YOU GET: |
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| State Tax Savings (6.25% bracket) | $ | (62.50) | $ | (62.50) | $ | (62.50) |
| State Tax Credits |
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| $ | (500.00) | $ | (500.00) |
| Federal Tax Savings (35% bracket) | $ | (328.13) | $ | (153.13) | $ | (153.13) |
| Untaxed Capital Gain – Federal (35% rate) |
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| $ | (175.00) |
| Untaxed Capital Gain – State (6.25% rate) |
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| $ | (31.25) |
| NET AFTER-TAX COST | $ | 609.37 | $ | 284.37 | $ | 78.12 |
| Net after-tax cost per dollar | $ | 0.61 | $ | 0.28 | $ | 0.08 |
*Assumes that the cost of the appreciated asset was $500 and appreciated to $1,000 at the time of the donation
YOP Donor Testimony:
For many years we have contributed a certain amount to Kingdom House, taking advantage of YOP credits when that program became available. Last year we realized that while Kingdom House was receiving the same number of dollars, we were not contributing the same percentage of our charitable donations because we were receiving 50% of it in our reduced state taxes. Therefore, we decided to give the amount of the reduction to Kingdom House to be used in a program not eligible for YOP credits. Anonymous Donors
To make your YOP donation online, click here!
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