Neighborhood Assistance Program (NAP)

1. Neighborhood Assistance Program (NAP) Award Training 2008-2009

2. Agenda • Community Development Staff (see Map) • Program Trends • Contribution Policy Requirements • Semi-annual Reporting Forms • De & Re-allocation • Modification Procedures • Close-out Procedures

3. Program Trends • $2,500,000.00 credits awarded annually • 177 applications received totaling $5.84 million requested tax credits • 172 applications awarded • Housing activities: received 50% of request • Other Community Development activities: received 41.6% of request

4. AWARD SUMMARY ALLOCATION RATE Average Award Amount $ 14,546.78 Tax Credits Available $ 2,500,000.00 Median Award Amount $ 14,996.17 Eligible Tax Credit Requests $ % of Applications Receiving Allocation 97.18% Program Trends Funding Summary 2008-2009 5,842,525.00 41-50%

5. Program Trends

6. Contribution PolicyEligibility • Eligible Donors • Any person, business, or organization that has an Indiana income tax liability

7. Contribution Policy • Eligible Contributions • Cash • Check • Credit card • Stock (that has been sold) • United Way Designations • Property (that will be used for NAP activity) • In-Kind donations (limited to building materials)

8. Contribution PolicyDonations • Tax credits = 50% of contribution amount • Calendar year that contribution was given • Minimum Donation = $100 • Maximum Donation (per calendar year) = $50,000 • Donations begin July 1, 2008 and end June 5, 2009

9. Contribution Policy Tax Credit Limits • Minimum Tax credit: $50 • Maximum Tax credit (per calendar year): $25,000

10. Contribution Policy Minimum donation • If donor contributes several small donations that add up to an amount greater than minimum contribution : • All contributions must be turned in to IHCDA at the same time • Grouped contributions must be in same calendar year • List only the last date of the multiple contribution dates on the NC-10 form, short form and spreadsheet

11. Contribution Policy • Ineligible Contributions • Services and/or Labor (No Sweat Equity) • Supplies • Equipment • Non-stationary building materials

12. Semi-Annual Reporting (2 reports per program year) • Expenditure and Reporting Requirements Contact your Community Development Representative immediately if problems arise.

13. Semi-Annual Reporting • Recipient must turn in an electronic copy of report and corresponding short forms by eachdeadline • If unable to meet deadline recipient must contact IHCDA rep. prior to deadline to avoid penalty • Failing to meet either deadline for semi-annual reporting will result in ineligibility for NAP in 2009-2010 program year

14. Semi-annual Reporting • IHCDA will assist Recipients in meeting deadline by: • Sending e-mail reminder of Semi-annual Report Deadlines • Sending e-mail update to organizations that did not submit Semi-annual Reports • Providing performance report at the end of Program Year 2008-2009

15. Semi-annual Reporting Reporting Forms NC-10 Form and Short Form • Identifies the donor and ensures correct account receives the tax credit • Complete for all donations that receive a NAP tax credit • Both the organization and donor completes • Short form added to ensure confidentiality

16. Semi-Annual Reporting NAP Spreadsheet • Lists all donor names, addresses and amounts • Determining contribution dates – see manual • Where do we send all the forms? • To IHCDA: • Spreadsheet saved on CD-Rom • Short Forms • To IN Dep’t of Revenue (DOR): • NC-10 Forms • DOR Address– Indiana Department of Revenue Tax Administration – Support Division 100 N. Senate Ave. – Room N203 Indianapolis, Indiana 46204

17. Semi-annual Reporting • IHCDA reviews Spreadsheet and Short Forms • Organizations will be contacted to resolve any discrepancies between short forms and spreadsheets. ALL INFO. ON BOTH MUST BE IDENTICAL! • IHCDA uploads spreadsheets to the Dept. of Revenue. • DOR generates NC-20 Form (within 7-10 business days of receipt)

18. Tax Credit De-Allocation • De-Allocation Policy • Must meet utilization requirements • 60% - mid year • 100% - year end • De-allocated up to utilization requirements

19. Tax Credit Re-Allocation • Requirements: • Utilized 100% of original award amount • Report submitted by Re-allocation deadline • Optional for agencies that want to become eligible for a re-allocation • Tax credits available for re-allocation divided among all organizations who meet requirements • Receives up to Application Tax Credit Request

20. Tax Credit Re-allocation • By October 3, 2008: • 100% of tax credits sold • Short forms and electronic spreadsheet submitted to IHCDA • Tax credits will be re-allocated after all Mid-year reports have been received • Designed to be a competitive process • Re-allocated agencies will be expected to meet same expenditure rates as originally outlined in their award agreement

21. Other Procedures • Modifications • Close-Out • Submitted at time of activity completion via mail • Requires original signature by authorized signatory • No later than June 30, 2010

22. Conclusion Implementation Manual online at: http://www.in.gov/ihcda/3099.htm