The Community Investment Tax Credit (CITC) provides a 50% tax credit against Commonwealth of Massachusetts tax liability. If you do not have sufficient tax liability, the credit is refundable, and the Commonwealth will issue you a check for the balance of the credit. The minimum donation is $1,000, which may seem like a lot, but you get $500 back, even though SCC receives the full $1000!
When you become a part of the Social Equity campaign, you are investing in our Community Investment Plan. These unrestricted donations are incredibly valuable to SCC, providing flexible capital to seed new programs, fill funding gaps and leverage other resources.
WHAT ARE THE BENEFITS?
- Considerable Tax Savings
- Open to individuals and Corporations anywhere in the U.S. – tell your friends & family!
- Investing in your community for real social equity impact
HOW TO PARTICIPATE
For more information about how this powerful program works, how to invest in Somerville, and how to start receiving tax breaks, please contact Lizzie Devane at 978.807.9190 or firstname.lastname@example.org.