The Missouri Department of Economic Development has approved the Audrain County Shelter Resource Coalition’s transitional housing project for the Missouri Neighborhood Assistance Program (NAP) tax credits.

The Audrain County Shelter Resource Coalition (ACSRC) has been authorized to receive tax credits in the amount of $239,249 in 70 percent tax credits for the period July 1, 2022 to June 30, 2024.

For example, if a donation of $10,000 is made to ACSRC’s transitional housing, $7,000 (70 percent of the donation) is eligible for the Missouri tax credit leaving a $3,000 tax liability.

To qualify for the tax credit a business must make a minimum, qualified contribution of $1,000 in support of ACSRC’s transitional housing.

This tax credit is for businesses only, but also includes individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income as well as a shareholder in an S-corporation, a partner in a partnership, or a member of a Limited Liability Corporation.

ACSRC is a 501(c)3 non-profit that is focused on caring for those in need of shelter in Audrain County. They have been operating the Room at the Inn Shelter for the last 8 years.

In the last season of Room at the Inn they were able to house 68 individuals for a total of 791 bed nights and served 1,530 meals to the hungry in the community. They have observed the need for increased affordable housing for those who are transitioning out of homelessness.

Thanks to the generous donation of two condominiums by the Weavers in the Summit Building, that goal is becoming a reality. Transitional housing offers a clear next step for people who have experienced homelessness. It allows people who are actively pursuing personal growth to establish the payment history and skills they need to become eligible and successful when they move into a permanent home of their own. Renovations and furnishings are expected to cost $50,000. 

The goal is to open the first phase of transitional housing by August 15, 2022 with full operations opening on Oct. 1.
For more information about how the NAP tax credit could affect donors, contact a tax adviser, accountant, or attorney. For more information about transitional housing or additional questions contact ACSRC at acsrc.mo@gmail.com.
To donate, send your donation to ACSRC PO Box 1002, Mexico, MO 65265 or go to www.acsrcmo.org and click on the donate button.