Gov. Matt Blunt announced Thursday, July 6, the approval of Neighborhood Assistance Program (NAP) tax credits that will help leverage donations to Nicholas-Beazley Aviation Museum Inc. for the development of an aviation museum/civic center in Marshall.

The facility will be designed to serve the city of Marshall and surrounding communities as a gathering place for events such as meetings, conventions, theater programs, academic presentations and business seminars.

"Through the Neighborhood Assistance Program, the state will partner with Marshall and generous local businesses to provide a multi-use facility for civic and business functions," Blunt said in a news release. "As a result, the community will also be able to provide a museum dedicated to the history of the Nicholas-Beazley Airplane Company and the Marshall Flying School."

The Missouri Department of Economic Development approved up to $350,000 in NAP tax credits for the building. The tax credits are expected to leverage $500,000 in donations for the project, according to a news release from the department.

"We feel it's a real boost to the project," said Bill Riggins, co-chairman of the project's capital campaign. "It's going to allow people to donate more than they would otherwise."

The Department of Economic Development administers NAP, which is designed to help not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.

Businesses can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in most rural areas.

Qualified donors include individuals who operate a sole proprietorship, operate a farm, have rental property, have royalty income, a shareholder in an S-corporation, a partner in a partnership or a member of a limited liability corporation, according to the department Web site.

Businesses donating to this project will receive tax credits at a 70 percent credit level, which can be used to offset their Missouri tax liability.

In combination with other tax deductions, the NAP tax credit will allow donors to the Nicholas Beazley/Marshall Civic Center project to reduce their out-of-pocket costs to about 20 cents on the dollar, according to Riggins.

Contact Eric Crump at

marshallfaith@socket.net