YOP Tax Credits

Build a brighter future for St. Louis, and lower your state taxes!

Thank you for considering a gift to Cornerstone Center for Early Learning. Through your use of our Youth Opportunity Program (YOP) State Tax Credits, you can reduce your Missouri state tax liability by 50% of the amount of your gift.

YOP is a state-sponsored program that provides tax credits to donors who help nonprofit organizations that make a positive difference in the lives of youth and thus the economic welfare of the state of Missouri. The state gives tax credits to reward eligible donors who support programs for Missouri’s children—the future of our state and the economy—and to increase funding for these programs. This allows donors who increase their giving as well as new donors to support local projects with funds they would normally owe on taxes. It’s a win-win!

Tax credits are available on a first come, first served basis for eligible gifts of $2,500 or more to Cornerstone Center for Early Learning that are made between 7/1/2022 and 6/30/2024 and support our Early Childhood Education Program. Your gift can take a variety of forms – cash (check, debit, credit), stocks, and various other donations. We’ll send you a tax credit application good for 50% of your gift. The Department of Economic Development will provide you with verification of credits with a certificate of eligibility to file with your Missouri state tax return.

If you have a Missouri state tax liability, you would be eligible to make a donation to receive a 50% tax credit. The tax credit is eligible for the year of donation plus 5 succeeding years.   

Here’s an example of how YOP tax credits work*:

(*Your results may vary – please contact your tax professional.)

When you give to Cornerstone through the YOP program, you help build a brighter future for St. Louis one child at a time. Your gift will provide licensed, accredited, award-winning care and education for children whose families otherwise might face barriers to access.

If you or someone you know would be interested in making a contribution using YOP tax credits, please contact Dani Smith, Development Director, at (314) 865-5244 ext. 134 or dsmith@cornerstonecenterstl.org.

Documentation Requirements for YOP Contributions

The following types of contributions are eligible for tax credit when contributed by qualifying Missouri businesses and individuals to an approved YOP project. All in-kind donations must be an approved line item in the organizations approved YOP budget. All applications for tax credit must include the documentation as described below.

CASH CONTRIBUTIONS

Checks: Attach documentation that clearly shows the check has cleared the DONOR’s bank account. ALL pages of documentation must include donor name and/or account number. Contributions in the form of a check must be made payable to and endorsed by the approved organization. The date of the check is considered the date of donation. Please include: 1) A copy of the front of the check, and 2) A Letter on Bank Letterhead from the donor’s financial institution which includes Donor Name, Check #, Check Amount, and Post-Date. Click here for an example.

Credit Card Donations: Submit the first page of the Credit card statement and the page the charge is on with the date the charge was posted, name of the recipient organization, and amount of donation. As long as the donor name, last four digits of the account number, and statement date are included on the first page, full statements are no longer required.

Electronic Funds Transfer/Debit: Donor provides a copy of their bank statement showing EFT or ACH, including donor name and last 4 digits of the account number, statement date, transaction date, recipient organization, and amount of donation.

IRA Donations: Provide a copy of the front of the check as well as a donor brokerage statement or donor brokerage letter on letterhead with the IRA check number, check amount, and post-date.

Stock Donations: Documentation must show donor ownership of stock, transfer of stock to the organization, and sale of stock by the organization. Provide a donor broker letter/brokerage account portfolio showing donor name, name of recipient organization, name of security(s) transferred from donor to organization, and number of shares and date of transfer. Additionally provide organization proof donated stock was sold in the form of a brokerage statement showing the sale of stock, name of security(s) sold, number of shares and date sold, and amount. Alternatively, the organization can provide trade confirmation and a copy of the front of the brokerage check or proof of payment from the stock sale.

Wire Transfers: Provide organization’s financial or banking statement with the post-date of the wire transfer and the amount of the transfer. Additionally provide donor financial or banking statement or letter on letterhead with donor name, amount of transfer, post-date, and name of recipient organization.

EMPLOYEE PAYROLL DEDUCTIONS
Initial form, signed by both the employee and employer, authorizing the YOP organization to deduct money from the employee’s paycheck, indicating the time frame for which the deduction is to take place, the amount of the deduction for each pay period, the number of pya periods, and the total to be deducted. Include the employee’s last payroll stub to show all deductions for that time frame.

REAL ESTATE CONTRIBUTIONS OR PURCHASE USING CREDITS
A copy of the deed, appraisal(s), and Phase I Environmental Assessment. At least two qualified, independent appraisals are required for real or personal property contributions. Exceptions: Commercial property valued at less than $50,000 and vacant or residential property with a value of less than $25,000 require only one appraisal. State licensed or certified appraisers must perform all appraisals.

PUBLICLY TRADED STOCKS
Documentation must show donor ownership of stock, transfer of stock to the organization, and sale of the stock by the organization.

Donor/taxpayer must provide a letter from their broker OR a copy of their brokerage account portfolio showing: donor name, name of recipient organization, name of security(s) transferred from donor account to organization, number of shares, and date of transfer: AND

Recipient organization must provide proof the donated stock was sold. Attach a copy of the brokerage statement showing sale of stock (name of security(s) sold, number of shares, date sold, amount) OR trade confirmation AND a copy of the front of the brokerage check or proof of payment from the stock sale.