KS Community Service Income Tax Credit Grant

States allocate a certain amount of money to be used for an Income Tax Credit Grant.  There are multiple types in KS, our goals is the Community Service focus (Item 1 on Pg 6 of attached document).  Donors receive 50% of the donation value in income tax credits for their KS income tax return to be used the same tax year.

How does it work?

  • Non-profits solicit proof of community support.  This is done through letters helping prove the need, impact of the services provided for the clients, how your business or community will benefit, and testimonial letters demonstrating the strength of the programs.  The second is done through pledge letters from both individuals and businesses demonstrating the community’s financial support of this project.
  • The grant application is submitted by May 31st and award results are made on or after July 1st.
  • Pledge donations may be fulfilled after award notification is received and before Dec 31st of the next year.  You have 18 months to fulfill the donation pledge.
  • A transfer form will be completed issuing you or the your business the KS income tax credits equal to 50% of the donation amount to be used on your KS income taxes in that same tax year.

What is the project?

The purpose of the applying for the grant is to purchase a building.  Ideally, we will be able to lease some of the space to generate the income needed to cover overhead expenses such as utilities, maintenance, insurance, and taxes.

The space will benefit the clients by allowing Moneytalk to provide additional services and expand existing services.  It will also allow us to offer more services through collaboration with other businesses and non-profits.  These additional services will also allow us to provide more volunteer and sponsorship opportunities for businesses and the community.

How can I help?

There are several ways you can help ensure the success of this grant application to benefit the entire community.  More information can be found in the document attached at the end of this page.

  • Make a pledge of support.  These financial pledges equate to over 20% of the overall evaluation score, the 2nd most important aspect of the evaluation score.  The pledge can be cash or non-cash.  But, non-cash pledges must be included in the application and directly related to the project to be eligible for the income tax credits.  Business pledges must be made on company letterhead.
  • Write a short letter stating how improving a client’s financial stability is going to benefit your company, your organization, your community, etc.  If you know of specific examples to help demonstrate the need for these financial literacy services, include that as well.  Proving the need is the most important aspect in the evaluation score.  Proving community support is approximately 10% of the evaluation score.
  • Share this opportunity for helping those in need, while getting a tax credit, with other businesses and individuals you know.

Submit Your Pledge

Business (any non-individual) pledges must be provided on company letterhead. Attach file below.
Non-cash donations must be pledged and included in the grant application to qualify for KS Income Tax Credits. (more info on Pg 5 of attached document).
Value is determined at time of donation. (more info on Pg 5 of attached document)

2020-2021 Application Guidelines

While the guidelines may change from year to year, this document will provide you with the May 2020 application guidelines.  We anticipate the guidelines to be similar for the 2021-2022 grant cycle.