The Community Investment Tax Program is designed to inspire giving to community development corporations
What is CITC?
Community Investment Tax Credit (CITC) donations provide you with a 50% tax credit through the State of Massachusetts, even if you do not owe any income taxes. That means that you or your company can make $1,000 impact on the ABCDC while also receiving a $500 rebate on your State taxes.
How does CITC benefit me and/or my business?
- This program provides individuals or businesses with a 50% Massachusetts State Tax Credit on donations of $1,000 or more
- Your donation may qualify for a refundable tax credit, even if you don’t have any income tax
- Your gift is leveraged to produce more impact in Allston Brighton through climate-ready affordable housing development, first-time homebuyer education, and resident engagement and support
It’s simple- double your impact for the same donation amount!
Making a donation is easy! Make a donation today by mailing a check to Allston Brighton CDC’s main office or donating online. Contact Sean Tatar with any questions or concerns. Credits are limited so don’t delay!
How to Receive Your Tax Credit
Step One: Make Your Donation
You may do this by mailing a check to Allston Brighton CDC or donating online.
When you donate online, you have the option to make a one-time payment or multiple payments. Please note in order to qualify for the tax credit, the full donation must be received by December 31st of the calendar year you wish to use the credit in. Also note that Allston Brighton CDC has a limited amount of tax credits each year – the earlier we know of your commitment, the better.
Step Two: Obtain Your CITC Certificate
Massachusetts Department of Housing and Community Development (DHCD) will issue your CITC Certificate. To obtain the certificate, login to DHCD’s CITC website and complete Part I. Please note that donors complete Part I only and Allston Brighton CDC completes Part II. If you have never logged into this portal before, we can provide you with a username and password – please contact our Resource Development & Communications Manager, Sean Tatar, to set this up.
After all information for Part I is complete, you must first click Save Answers and Resume Later then click Next. At the prompt, enter [email protected] to notify us that you’ve completed Part I. Allston Brighton CDC will then complete Part II to finalize the process.
DHCD will issue you your CITC Certificate with your unique Massachusetts Department of Revenue (DOR) certification number. You will enter this number on your tax filing to claim your credit.
You will receive your CITC Certificate in the mail four to six weeks after completing this process, so please plan accordingly.
Please consult your tax advisor regarding questions specific to tax filing and to determining final out of pocket cost.