Grant Details

Volunteer Income Tax Assistance Initiative (VITA)

 
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    CFDA#

    44.002
     

    Funder Type

    Federal Government

    IT Classification

    C - Could contain a technology component as part of a larger program.

    Authority

    National Credit Union Administration (NCUA)

    Summary

    The National Credit Union Administration's (NCUA's) Community Development Revolving Loan Fund (CDRLF) was established by Congress to support credit unions that serve lowincome communities by making loans and TAGs available to qualifying institutions. Lowinterest loans/deposits are made available to low-income designated credit unions to enhance their financial capacity to, in turn, extend financial services to their members. Congress appropriates funds to the CDRLF for loans and/or grants. The interest earned on loans is also available as a source of additional funds retained by the program for grant purposes. The objective, or desired outcome, of technical assistance grants is to help low-income credit unions provide financial services to their members and to make the operations of those credit unions more efficient. The VITA initiative is to provide financial assistance to credit unions wishing to help existing and potential members prepare their tax returns, especially those eligible for the Earned Income Tax Credit (EITC). Technical assistance funds enable the credit union to offset administrative and operational costs associated with providing free income tax preparation services.

     

    History of Funding

    None is available.

    Additional Information

    Grant funds may be used to cover the administrative and operational costs of establishing and operating a VITA site. The following is a list of reimbursable costs: (1) Consultant or contractor costs; (2) Salaries to employees are not reimbursable under any CDRLF grant initiative. An individual is considered an employee if the credit union withholds income taxes, withholds and pays Social Security and Medicare taxes, and pays unemployment tax on wages paid. In general, the credit union would not withhold or pay any taxes on payments to independent contractors; (3) Custodial services; (4) Equipment purchase and installation, up to $750 for equipment purchases directly related to operating or supporting the VITA site; (5) Equipment rental; (6) Insurance (special bond considerations); (7) Marketing and advertising (directly related to VITA site and services); (8) Mileage (not to exceed the IRS standard mileage rate for 2010 of $0.50 per mile, for travel directly related to operating the VITA site); (9) Parking; (10) Postage; (11) Printing, reproduction, and copying; (12) Public transportation and related taxi fares; (13) Supplies; and (14) Training (related to VITA site and services)

    Contacts

    Grant Program Office

    Grant Program Office
    Internal Revenue Service (IRS)
    401 W. Peachtree Street, NW
    Stop 420-D
    Atlanta', GA 30308
    (404) 338-7894
     

  • Eligibility Details

    To participate in the program, a federally chartered credit union must be currently designated as a "low-income" credit union as set forth in NCUA's Rules and Regulations. A state chartered credit union must have the equivalent low-income designation from its respective state supervisory authority (SSA) and concurrence from NCUA.

    Deadline Details

    The deadline to submit an application is May 31, 2012.

    Award Details

    The estimated total funds available in FY11 is $12 million. Multiple awards are anticipated. All applicants must provide documentation explaining matching funds on a dollar for-dollar basis. For example, if you request $50,000 in grant funds, you must provide matching funds for at least $50,000. Only funds in support of the VITA Program qualify as matching funds.




     

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