Aim High St. Louis
755 S. Price Road
St. Louis, MO 63124
tel: 314-993-4045 x306
fax: 314-993-6458
info@aimhighstl.org

YOP Tax Credits 


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 donation to Aim High are probably eligible to receive a significant tax credit under Missouri's Youth Opportunity Program (YOP). Donors may contribute up to $200,000 per calendar year to Aim High and, in return, receive half of the donation back in form of a Missouri state tax credit. Aim High tax credits are capped 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.

How Who is Eligible?

Any entity or individual that 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 to use the credits.

In this difficult funding environment, we need our donors' support more than ever.

By making a donation to Aim High, you can help this outstanding program continue its success.
 


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