Donors Can Receive State Tax Credits and Provide Scholarships

Donors Can Receive State Tax Credits and Provide Scholarships
Amy Pellegrin

The Fairmont State-Pierpont Foundation, Inc. has received $77,880 in state tax credits through the West Virginia Development Office’s Neighborhood Investment Program to offer special giving incentives to help raise money for student scholarships. 

Donors to the Neighborhood Investment Program (NIP) Scholarship fund are eligible to receive a West Virginia state tax credit in the amount of 50 percent of their contribution, in addition to the federal tax deduction as part of itemized deductions for charitable gifts.

The NIP Scholarship benefits West Virginia residents attending Fairmont State University or Pierpont Community & Technical College whose yearly family income is at or below 125 percent of the federal poverty level. Recipients must also meet academic performance requirements.

Thanks to the generosity of its donors, since 2005 the Foundation has raised almost one million dollars in support of the NIP Scholarship fund.

To take advantage of the tax voucher program, donors may make a minimum contribution of $1,000 to the Foundation’s Neighborhood Investment Program Scholarship. The maximum gift level eligible for a voucher is $25,000. Credits are available on a first-come, first-served basis.

For more information on this special investment opportunity, please contact Will Armistead, Executive Director of the Fairmont State-Pierpont Foundation, at (304) 534-8786.

The mission of the Fairmont State-Pierpont Foundation, Inc. is to support, through ethical stewardship, the missions of Fairmont State University and Pierpont Community & Technical College. The Foundation will identify, establish and cultivate meaningful relationships with Fairmont State and Pierpont alumni and potential and existing funding constituencies to meet contributor needs while securing funds and supporters for priority objectives identified by their Boards of Governors.

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