Fairmont State Foundation Receives Additional NIP Credits

The Fairmont State Foundation, Inc. has received over $29,000 in additional state income tax credits through the Neighborhood Investment Program.

After issuing more than 90 percent of the original credits and raising more than $100,000 for student scholarships this fiscal year, the Foundation was eligible to apply for and received these additional credits.

"Fairmont State is pleased to offer community members and businesses the opportunity to participate in this great scholarship program that benefits Fairmont State and Pierpont Community & Technical College students. With 100 percent of the donation going directly to the scholarship fund, this program is a win-win," said Keith Foster, Director of Major Gifts.

The purpose of the Neighborhood Investment Program (NIP) is to serve low-income West Virginia citizens and economically distressed areas within the state by encouraging contributions to community-based nonprofit programs. Contributions to this program directly and immediately benefit the students of Fairmont State University and Pierpont Community & Technical College.

NIP scholarships are awarded to students whose household income is less than 125 percent of the federal poverty level.

"Many accountants and financial advisors have already taken advantage of this tremendous opportunity and have recommended it to their clients," Foster said.

Each contribution of $1,000 or more is eligible for a state tax credit in the amount up to 50 percent of the gift, as well as a federal tax deduction. Individuals, corporations and small businesses are eligible to participate in this program, as well as non-residents who have taxable interests in West Virginia.

"NIP credits can be used either in the year of donation or in the four subsequent years, so, if you have already met your tax obligation this year, this program allows you to plan for the future," Foster said.

"These credits will only be available until June 30, and are awarded on a first-come, first-served basis. Now is the time to consider a gift that will reduce your state taxes and impact the lives of Fairmont State and Pierpont students."

For more information about the Neighborhood Investment Program Scholarship Fund, please contact Keith Foster, Director of Major Gifts, at (304) 367-4014 or Keith.Foster@fairmontstate.edu.  

The mission of the Fairmont State Foundation, Inc. is to support, through ethical stewardship, the missions of Fairmont State University and Pierpont Community & Technical College. We will identify, establish and cultivate meaningful relationships with Fairmont State  and Pierpont alumni, as well as potential and existing funding constituencies to meet contributor needs while securing funds and supporters for priority objectives identified by the Boards of Governors.