Youth Opportunity Program (Y.O.P.) Tax Credits
If you are liable for Missouri taxes (individuals & corporations) you could take advantage of Big Brothers Big Sisters’ status as a YOP approved organization.
The Youth Opportunity Program is the State of Missouri Department of Economic Development's tax program to provide incentives for philanthropic giving.
Big Brothers Big Sisters: Receives maximum support from donors.
Missouri Taxpayers: Potentially receives up to 71% of their charitable contribution in tax savings.
Example below assumes a 6% state and 35% federal tax bracket:
|
Contribution to BBBS
|
Initial State Tax Deduction
|
Initial State Savings
|
Additional State YOP tax Credit
|
Federal Tax Savings*
|
Ultimate Cost to Donor
|
|
|
|
|
|
|
|
|
$500
|
$250
|
$15
|
$250
|
$87.50
|
$147.50
|
|
$1,000
|
$500
|
$30
|
$500
|
$175
|
$295
|
|
$3,000
|
$1,500
|
$90
|
$1,500
|
$525
|
$885
|
|
$5,000
|
$2,500
|
$150
|
$2,500
|
$875
|
$1,475
|
*Number reached by reducing the amount of the federal deduction (for state income taxes paid) by the amount of the Missouri state tax credit.
The above example is based on informal discussions with tax experts. Big Brothers Big Sisters is not making any representation as to the proper tax treatment and urges consultation with your financial or tax advisor concerning all YOP program savings. The YOP program is outlined in MO Statute 135.460 with detailed information in MO Statutes 620.1100 and 2620.1103.
Please contact Patrick Sallee at 816.777.2870 for more information about applying for YOP Tax Credits.
Download Y.O.P. Application
Please follow these steps if you would like to apply for Missouri tax credits:
- COPY OF CANCELED CHECK - Request a copy of the back of check from your bank showing it has been cancelled.
- NOTARIZE THE APPLICATION - Your application must be notarized before submitting for approval.
- FILL OUT & SIGN THE APPLICATION - Be sure to include your signature on application.
- RETURN TO BIG BROTHERS BIG SISTERS - Mail your canceled check and notarized application to BBBS for submission to the Department of Economic Development:
Big Brothers Big Sisters
Attn: Patrick Sallee
3908 Washington Street
Kansas City, MO 64111
