Family Development Account Tax Credit Program Grant

Family Development Account Tax Credit Program Grant

Status: ACTIVE
Funder: Missouri Department of Economic Development
Amount: Up to US $100,000 in in-kind support
Last Updated: March 14, 2026

Summary

The Family Development Account Tax Credit Program, managed by the Missouri Department of Economic Development, provides essential financing for community organizations to support low-income families in matched savings initiatives. These initiatives empower families to save for education, homeownership, renovations, or small business ventures. Applications for this program are open until April 30, 2025, or until all available tax credits are allocated, ensuring ongoing support for community development.

Overview

NOTE: Applications are accepted on an open cycle through April 30, 2025, or until all tax credits have been exhausted. Family Development Account Tax Credit Program Community-based organizations can access financing to administer a family Development Account project to help low-income residents participate in matched savings programs. These savings programs will help families in your community pay for school, purchase a new house, make home improvements, or start up a small business. Program Benefits/Eligible Uses This tax credit can be applied to: Ch. 143 – Income tax, excluding withholding taxCh. 147 – Corporate franchise taxCh. 148 – Bank Tax, Insurance Premium Tax, Other Financial Institution TaxCh. 153 – Express Companies Tax This credit has no special attributes. It must be applied to tax liability for the year it was earned.

Eligibility

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