lunch bunchThe Neighborhood Investment Program (NIP), overseen by the West Virginia Development Office, provides state tax credits to businesses and individuals contributing to NIP-approved 501(c)(3)  organizations that supply valuable services to their communities.

Charleston Montessori School was awarded NIP credits for the 2016 – 2017 school year. Your donation will help fund three need-based scholarships for children.  Scholarship students are provided nine years of Montessori education from ages 3 through 12.

Businesses and individuals who contribute a minimum of $500 to the CMS Scholarship Project are eligible to receive up to 50% of the contributed amount in the form of state tax credits. Donors may use the credits to reduce liability for the following West Virginia taxes: Corporate Net Income, Business Franchise Tax or Personal Income Tax.  Contact the West Virginia Development Office or your accountant for more information about West Virginia tax credits.

FREQUENTLY ASKED QUESTIONS

How does a tax credit differ from a tax deduction?

A tax deduction reduces the amount of total income on which taxes are based. A tax credit is used to reduce total tax liability. Generally, a tax credit is worth substantially more than a tax deduction.

How are the tax credits reported?

Contributors to Charleston Montessori School will receive a tax credit voucher that lists the amount of the contribution and the credit.  The tax credit voucher is attached to your WV income tax return.  See your accountant for further information.

Does the Neighborhood Investment Program adversely affect federal tax deductions for charitable contributions?

No. In fact, your total contribution is eligible for a charitable donation deduction on your federal income tax return.

How do I make a contribution?

Make your check payable to Charleston Montessori, Inc., mark your check or envelope “NIP Contribution,” and mail your donation (minimum of $500) to Charleston Montessori School at PO Box 11875, Charleston, WV 25339. Alternatively, you can click on the PayPal button below to pay by credit card.