Boost Your Business and Make a Difference: Support Cornerstone's HVAC Renovation and Get a 100% Tax Credit!
- Sharon Redfern
- Aug 31, 2024
- 2 min read
Your business can help Cornerstone and get a significant tax credit at the same time!
Cornerstone recently had an HVAC renovation project approved by Connecticut’s State Department of Revenue Service Neighborhood Assistance Act (NAA). The NAA is a tax credit program designed to provide funding for Non-Profits by providing a corporation business tax credit for businesses who make cash contributions to a project. We were able to access this program after assistance from the Town of Vernon whose Town Council voted to approve our project and sent it through to the State of Connecticut.
Our project calls for the replacement of old and poorly operating HVAC systems at the New Hope House shelter, the Community Center and a staff apartment over the Community Kitchen. All of these systems are far beyond their life expectancy and virtually non operational in some cases. The total cost of the project is $40,864 of which $36,484 is NAA eligible. We desperately need to get this work done to provide a safe and comfortable environment for those who depend on our services.
Basically, if a business pledges to make a donation towards the cost of the project, they are eligible for a 100% tax credit. A minimum donation of $250 must be made towards the project to be eligible for a credit towards Chapters 207, 208, 208, 210, 211, and 212 taxes. For complete information on this program please go to https://portal.ct.gov/drs/credit-programs/neighborhood-assistance/neighborhood-assistance-act-tax-credit-program .
If you are a local business owner who would like to make a pledge towards this project, please go to the website and fill out Form NAA-02 to help and get a tax break as well. The form is available from September 15 through October 1.
Please feel free to reach out to me at 860-858-6362 or sharon.redfern@cornerstone-cares.org if you have any questions. Your donation could mean a huge difference in the lives of our struggling neighbors who come to Cornerstone for help.
Sharon Redfern
Executive Director
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