Tax Credit Available For Donors To Valley Community Development Corporation

Source: Valley CDC

The Community Investment Tax Credit Program (CITC) was established in 2012 to enable local residents and stakeholders to work with and through community development corporations (CDCs) to partner with nonprofit, public, and private entities to improve economic opportunities for low and moderate income households and other residents in urban, rural, and suburban communities across the Commonwealth.  

Locally, Valley Community Development Corporation (Valley CDC) qualifies for the CITC Program which provides a 50% refundable state tax credit for donations of $1,000 or over to qualified community development corporations. The program is designed to leverage private contributions in order to support a broad array of community development efforts like affordable housing, homeownership services, and small business services that help local communities thrive.

The CITC reduces a donor’s tax liability, and if a donor does not have sufficient tax liability, the credit is refundable, and the Commonwealth will issue a check for the balance of the credit to the donor. The minimum donation each year is $1,000.

Questions about this program, can be directed to pj@valleycdc.com.  Donations can be made here.

The Department of Housing and Community Development (DHCD) is the administering agency for CITC and is responsible for managing the process by which the credits are allocated to eligible CDCs.  

The CITC will be available through 2025.