Menu
Community Investment Tax Credits
Helping rural, urban and suburban communities while reducing tax liabilities
This tax credit is designed to enable local residents and stakeholders to participate in the improvement of economic opportunities for low and moderate income households and other residents in urban, rural, and suburban communities across the Commonwealth.
Working with and through community development corporations (CDCs), investors are given the opportunity and incentive to partner with nonprofit, public, and private entities to invest in local under-served communities by providing job training, supporting local businesses, building affordable housing, first time home buyer assistance and youth services just to name a some of the services Community Development Corporations provide to local communities.
What is a CDC
- Community development corporations (CDCs) are 501(c)(3) non-profit organizations created to support and revitalize under served urban, rural and suburban communities.
- CDCs are often associated with the development of affordable housing, but they also offer many other important community services such as education, job training, healthcare, commercial development, and other social programs.
What is a Community Investment Tax Credit (CITC)
- CITC program is a refundable tax credit that gives donors a 50% tax credit against their Commonwealth of Massachusetts tax liability.
- Funds are invested in a CDC’s Community Investment Plan to provide flexible working capital which can be used to seed new programs, fill funding gaps and leverage other resources.
- The minimum donation each year is $1,000.
Why Invest In CITC's
- Tax credit programs have a significant impact on economic and community development in urban, rural and suburban communities.
- Investments drive small business ownership, affordable housing availability, neighborhood revitalization, employment opportunities and job training.
- Funding strengthens resident engagement, providing a more strategic and collaborative environment, progressive actions towards improving the communities and enhancing opportunities for the people living in those communities.
Worcester Common Ground's Community Investment Plan
- The mission of WCG is to promote and develop permanent and sustainable improvement in the neighborhoods of Central Worcester through affordable housing, community activism and economic development.
- We act as a developer of last resort, rehabilitating abandoned housing and acquiring parcels of vacant land for new construction to provide area residents with affordable rental units, the opportunity to own their own home, and an avenue to contribute to an increased level of neighborhood investment, pride and stability.
Invest in Worcester Common Ground's Community Initiatives and Reduce Your Tax Liability
- Donate any amount of $1,000 or higher to WCG or any other CDC
- 50% of your donation amount subtracted from your tax bill or added to your reimbursement
- This tax credit expires 2025
- US residents, business or non-profit organizations are eligible for this tax credit. If you do not file a Massachusetts tax return, you will receive a check for the value of your tax credit.
Massachusetts Association of Community Development Corporations
MACDC is a membership organization that seeks to build and sustain a high performing and adaptive community development sector that is supported by private and public investment and sound public policies. We advance racial and economic equity by creating healthy communities where everyone lives in housing they can afford, benefits from economic opportunities and can fully participate in the civic life of their community.
Contact Us With Questions About WCG and Its Community Investment Plan
Contact Us
Yvette Dyson, our Executive Director spearheads our community investment with the help of our board members. Send Yvette a note or give her a call at 508-754-0908 with any questions about WCG, CDC’s or CITC’s.
