YOP Tax Credits

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Tax Credits for Donors

YOP Tax Credit Example Individual cash gift of $1000 (from taxpayer in the 36% tax bracket)
Cash Gift	($1,000)
Federal Deduction	360
Missouri Tax Deduction	60
YOP Credit (50% of gift)	500
*Reduced state tax deduction on federal return()**	(180)
Out-of-pocket cost	$260
(*)Represents 36% of the $500 YOP tax credit. Your deduction for state taxes on your federal return is reduced by $500 because your state tax payment is being reduced by $500. As with any charitable giving, always consult your accountant to determine your individual tax savings.

Missouri residents and institutions that make donations to Aim High are probably eligible to receive a significant tax credit under Missouri's Youth Opportunity Program (YOP). Donors may contribute up to $400,000 per calendar year to Aim High and, in return, receive half of the donation back in the form of a Missouri state tax credit. Aim High tax credits are limited and available on a first-come, first-serve basis.

How do Credits Differ from Deductions?

A tax credit is a reduction of the taxes you owe the State of Missouri.When you donate to Aim High, you may be eligible to deduct the amount of your donation from your taxable income for the purposes of reducing your federal and state income tax bills.

Who is Eligible?

Any entity or individual who pays Missouri income tax and files a Schedule A for itemized deductions may receive a tax credit. This includes:

Individuals

Corporations

Partnerships

S Corps

LLCs

What Forms of Donations are Eligible?

Cash

Stocks/Bonds

Mutual Funds

If the donor does not owe enough taxes in the tax year in which the contribution is made, can the credit be used on subsequent tax returns?

Yes. The contributor may apply the tax credit in the tax year the contribution was given or in the five succeeding tax periods.

YOP Tax Credits - Benefits and Instructions