NEON Seeks Strategic Alliance with Local Businesses

NEON, Norwalk Economic Opportunity Now, Inc., (NEON) announced Monday that area businesses are invited to partner with NEON programs and become eligible for state tax credits, according to a release from the anti-poverty agency.

Under the Connecticut Neighborhood Assistance Act (NAA) tax credit program, companies that make cash contributions to eligible NEON programs can receive a credit of 60% or 100% of their approved donations. 

Eligible NEON programs in the Norwalk and Stamford area include:

• NEON Viewpoint Recovery program in Stamford with a tax credit Provided to Businesses of 100%. The contribution goal is $35,000.
  
  
• NEON After School Academy and Literacy program in Stamford with a tax credit provided to businesses of 60%. The contribution goal is $87,044.
  
  
• NEON Empower Through Education and Employment program in Stamford with a Tax credit provided to business of 60%. The contribution goal is $27,956.
  
  
• NEON Neighbors Helping Neighbors Social Service program in Norwalk with a tax credit provided to businesses of 60%. The contribution goal is $150,000.

The credit can only be applied against the Corporation Business Tax, Insurance Premiums and certain Gross Earnings Taxes.

“The State of Connecticut Neighborhood Assistance Act (NAA) tax credit program is a wonderful opportunity for local businesses to help strengthen our community’s important social programs while at the same time gaining a tax benefit for their companies,” said Chiquita Stephenson, NEON acting CEO and president in the release adding that this tax credit directly encourages and rewards alliances between businesses and non-profits like NEON.

Any businesses willing to sponsor NEON programs to receive tax credits needs to complete the NAA-02 form and submit it to the Department of Revenue Services (DRS) between Sept. 15 and Oct. 1, 2013. The form is available on the DRS website at http://www.ct.gov/drs.

For more information on sponsoring NEON programs, contact Sonya D. Van Norden, NEON’s Director of Development at (203) 352-4894, or email Sonya at svannorden@neoncaa.org

Questions about procedures that businesses receiving the tax credit must follow can be directed to Susan Sherman or Mike Galliher at the Department of Revenue Services, (860) 297-5687.

NEON serves vulnerable families in lower Fairfield County and operates numerous services and programs in the areas of early childhood development; adult and youth employment and training; energy assistance; neighborhood community centers; wealth and asset development; after-school activities; family services; community corrections and substance abuse residential services.