What are Community Investment Tax Credits?
Community Investment Tax Credits (CITC) are administered by the Massachusetts DHCD to encourage investment in Community Development Corporations (CDC’s) by providing a 50% tax credit against Commonwealth of Massachusetts tax liability. Donors can be private individuals or organizations that invest $1,000 or more in a year. For example, if a private individual invests $10,000 in a CDC, in return they will receive $5,000 from the Commonwealth. If the donor does not have sufficient tax liability, the credit is refundable, whereby the Commonwealth will issue a check for the balance of the credit.
Please consider contributing to the future of our community!