In March, United Way joined the Patrick Administration and several Community Development Corporations (CDCs) to announce $3 million in allocations to 38 community organizations across the Commonwealth for a new Community Investment Tax Credit that will encourage new economic opportunities for low- and middle-income households throughout Massachusetts. United Way worked closely with the Massachusetts Association for Community Development Corporations (MACDC) and our State leaders to advocate for and implement the tax credit, and is currently fundraising to help CDCs reach the designated funding levels needed to support their programs and claim the tax credit.
Joe Kriesberg, President and CEO of MACDC, sat down this week with Governor Deval Patrick to talk about the new tax credit. Check out what the Governor has to say about the importance of investing in CDCs and this win-win opportunity for donors and economic development in the Commonwealth.
The Community Investment Tax Credit offers a 50% state tax credit to individuals and companies who invest in CDCs – a huge savings for a donor, and a significant impact on a CDC’s ability to implement innovative projects that will make both an immediate and lasting impact in our local communities. For more information about making a donation and receiving the Community Investment Tax Credit, contact Susan Dickason at email@example.com.