Community Investment Tax Credit (CITC)

What is the Community Investment Tax Credit?

  • The Community Investment Tax Credit (CITC) supports community led development initiatives and strong local partnerships by leveraging private contributions
  • An incentive for cash donations over $1,000
  • It is a refundable tax credit – 50% of the donation is credited directly against a donor’s tax obligation. If the tax credit is greater than the donor’s tax liability, the state will refund the remainder

What the CITC is

  • The Community Investment Tax Credit (CITC) is designed to encourage encourage and build individual and small business giving to Community Development Corporations (CDCs)
  • A program that will encourage the deeper involvement in a CDC of a wide variety of community stakeholders
  • An incentive for new cash donations over $1,000
  • It is a refundable tax credit – 50% of the donation is credited directly against a donor’s tax obligation
  • Provides over $15,000 impact on the CDC for a net $5,000 donation

What the CITC is not

  • It is not a Social Impact Investment
  • It is not a Program Related Investment
  • It is not an investment.
  • This credit is available only through a charitable cash donation to a certified CDC

CITC Tax Savings Examples

For more information about the CITC program, please contact Angela S. Yarde, Associate Director of Resource Development at ayarde@dbedc.org or (617) 825-4200.