#Fairfield CT– September 14, 2022– First Selectwoman Brenda L. Kupchick announced today that the Connecticut Department of Revenue Services (DRS) has approved six programs submitted by the Town of Fairfield for inclusion in the 2022 Neighborhood AssistanceAct program. The Neighborhood Assistance Act (NAA) program is designed to provide funding to state-approved community programs conducted by municipal agencies or community non-profit organizations. The NAA works with businesses to provide 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.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 following programs were approved for inclusion in the 2022 NAA Program: Fairfield Theatre Company – General Operating SupportFairfield Theatre Company – Energy Efficient Upgrades to Stage OneCT Radio Information System – Audio Accessibility for Visually Impaired PersonsOperation Hope of Fairfield – Energy Efficient Rehab for Affordable HousingOperation Hope of Fairfield – Community Hunger & Homelessness ServicesWakeman Boys & Girls Club – Southport Clubhouse Energy Efficiency UpgradesFirst Selectwoman Kupchick remarked, “This is a real ‘win-win’ situation for both the non-profit groups and the businesses involved. On the one hand, community organizations are able to raise much-needed funds to help support a number of very worthwhile initiatives that benefit local residents. On the other, businesses that make a charitable gift toward these programs are able to reduce their corporate tax liability.” Businesses wishing to sponsor one or more NAA programs only have a limited time in which to do so and can submit a pledge to DRS beginning on September 15, 2022, to support these programs and qualify for a business tax credit. The business sponsor application form (Form NAA-02) will be available through the State DRS Neighborhood
Assistance Act Program website beginning on September 15th. All pledges must be
received electronically by the October 3rd deadline in order to be considered.
Businesses interested in contributing to these programs may contact the sponsoring organization or the Department of Community & Economic Development at (203) 256- 3120 for more information.
This press release was made possible by: