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Saturday, Apr. 19, 2014

Southeast Missouri Food Bank at risk of losing tax credits

Wednesday, March 21, 2012

SIKESTON - Southeast Missouri Food Bank with locations has $247,000 in tax credits that must be used by the end of this month or the charity will lose future funding.

In March 2010, the organization, which has locations in Cape Girardeau and Sikeston, received $250,000 in Neighborhood Assistance Program tax credits from the state to issue to eligible donors, said Karen Green, Executive Director of the Food Bank. Donors receive a Missouri income tax reduction for 50 percent of the value of their donation and other tax benefits may apply based on the actual tax liability of the donor, she explained.

The full amount of the tax credit award was originally going to be applied to a property purchase for Southeast Missouri Food Bank to purchase a facility, but that transaction was recently cancelled, resulting in tax credits going to waste if not utilized by March 31.

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