"The CITC is an outstanding tax incentive for both individuals and corporations who are inclined to donate $1,000 or more, with an annual cap of $1 million in credits. Donors are eligible to receive a credit equal to 50% of the total qualified investments for the tax year in which the investment was made. The credit must be taken in the year the qualified investment was made, and any amount in excess of the taxpayer’s tax liability may be either refunded or carried forward to offset future tax liabilities."
"I had been looking for over a year for a way to make a significant donation to a Boston neighborhood development program. When I read about the CITC program in the Globe and investigated further, I found just what I'd been looking for: Succinct, but complete descriptions, of a range of programs; all 'certified' as being good stewards of their funds; and a substantial tax credit designed specifically to promote philanthropy. The real reward, however, went beyond knowing the funds would be well used. It was a ride through the Codman neighborhood with 4 of the staff who lead the day-to-day work. Not only did I see first hand the results of years of work in housing, playgrounds, and a new community garden, but understood the degree to which the programs integrate human services into physical improvement."
- Susan Haas
"It was very enticing, and I have to say I feel great about how far the dollars for an individual donor can get stretched."
- Karen Smith
"Although the two-step process seemed as if it would be cumbersome, I found claiming the CITC to be fairly straightforward. There is a simple form to fill out and mail to DHCD and DHCD responds with a second form that needs to be filed with DOR. DOR then sends the certificate. That's it. I do recommend giving well before year end so there is no rush to get the certificate in time to file taxes."
- Peter Munkenbeck
"My family and I discussed the new tax credit over our Christmas dinner after reading about the Community Investment tax Credit in the Boston Globe. We were surprised, but excited that a tax credit could make a big difference in our community. I'm a retired principal and I like that my donation improves the quality-of-life for future leaders in the area. It made sense to invest locally and North Shore CDC made the process easy."
- Retired Principal
“I just got my state refund and it was $500 more than it would have been otherwise – now I can use that money to make another donation this year!”
- Anonymous Donor
"For over a decade we have been involved in several aspects of Beverly’s community housing and have been pleased to follow North Shore CDC’s sustained growth, especially following its merger into a regional community development organization. Their model of tackling problems by creating high quality, attractive affordable housing in distressed North Shore neighborhoods is an outstanding catalyst for turning stigma into pride. North Shore CDC's partnerships with the YMCA in co-development of affordable housing in Beverly, and YouthBuild North Shore's coupling with Habitat for Humanity in the reclamation and construction of homes new to needy families in Peabody, Danvers, and Lynn are excellent examples of effective collaboration. We are proud to support the outstanding staff of North Shore CDC in bringing their vision, energy and enthusiasm to our communities.
We were pleased to be able to increase our support for North Shore CDC in 2014 and 2015 through the new state Community Investment Tax Credit which provides North Shore CDC donors with a 50% return on their donation in the form of state tax credits. North Shore CDC’s leadership in helping to get this program established through the state legislature resulted in it being in the first statewide distribution of 2014 credits. This is yet one more example of the organization’s creativity and diligence in attracting financial assistance for their mission to invest in neighborhoods to create thriving communities on the North Shore."
- Anonymous Donor