The Community Investment Tax Credit (CITC) supports housing and community economic development throughout Massachusetts, raising over $98 Million since it was instituted in 2014. The CITC leverages private contributions with a 50% tax credit towards Commonwealth of Massachusetts tax liability (or by reimbursement--see below). CITC-
eligible contributions provide flexible working capital that can be used to start new programs, fill funding gaps, and leverage other resources.
How It Works
The Community Investment
Tax Credit Program (CITC) invests in the
housing and economic development of the communities
that need help most.
At Home City we use CITC for the following:
- Affordable housing preservation and production
- Increasing household income and wealth
- Building sustainable communities
- Reducing Fossil Fuels/Increasing Renewable Energy
- Creating Opportunities for BIPOC Businesses
- Job training and financial coaching
- and much more!
Who can use Tax Credits?
It’s easy to make a CITC-eligible gift.The minimum contribution is $1,000, and the maximum is $2 million. Even if you don’t have any tax liability, or you live out of state, you can utilize this program and
receive a refund in the amount of the credit. Individuals, nonprofit organizations, and corporations can all claim this tax credit. Banks can utilize the credit for CRA donations. Please consult your tax advisor to confirm your tax implications.
- Tax credits are limited; availability is first-come, first-served.
- Affordable housing preservation and production
* When donating online, please note processing fees are not tax-deductible and your donation will be adjusted accordingly.