100%of your gift goes to North Shore CDC and 50% comes back to you!

WHAT IS CITC?

The Community Investment Tax Credit (CITC) program is a Massachusetts-sponsored program that provides great tax-incentives to donors while supporting Community Development Corporations (or CDCs) across the Commonwealth like North Shore CDC.

Since 2012, the CITC program has grown stronger each year, promoting private investment by individuals and businesses to create homes across the North Shore and state. In 2024, the Executive Office of Housing and Livable Communities awarded North Shore CDC $300,000 in tax credits.

We have limited CITC credits, so please contact Ashley Ganem, Director of Development, at aganem@northshorecdc.org prior to making your gift.

HOW DOES CITC WORK?

By making a $1,000 or larger investment in North Shore CDC, you receive a 50% state tax credit for the total amount of your gift. You may even qualify for a federal tax deduction (for taxpayers who choose to itemize; check with your tax advisor). Please consult your tax advisor regarding questions specific to tax filing and to determining final out of pocket cost.

QUICK FACTS:

• Interested? FIRST: Contact Ash for credit availability – we do sell out!!
• Minimum of $1,000 – cash, check or credit card
• Gifts of stock or in-kind goods or services DO NOT qualify
• IRA distributions (including Required Minimum Distributions) do qualify if sent directly to North Shore CDC
• CITC contributions must be received by North Shore CDC by 12/31 of the year your hope to use your credits.
• You can make your investment in one gift or installments throughout the year
• No goods or services received in exchange for the gift
• Qualified donations are claimed for the same year the donation is received
• CITC is available to individuals, businesses and non-profit organizations who make a qualified donation. (Out of state donors must file a non-resident return in MA to receive the tax credit in the form of a refund).
• Donors who have no tax liability will receive a refund.
• Donor Advised Funds: Most DAF managers do NOT participate in CITC. Contact Amy for more information aganem@northshorecdc.org
• Banks: Great way to improve Community Reinvestment Act (CRA)