On March 4, 2014, South Boston NDC was awarded $50,000 in Massachusetts tax credits through the new Community Investment Tax Credit (CITC). In 2015, South Boston NDC was awarded an additional $100,000 in Community Investment Tax Credits. The CITC provides a 50% refundable tax credit to donors who make a charitable contribution to South Boston NDC. Any eligible Massachusetts taxpayer, including individuals and corporations, may donate a minimum of $1,000 to receive the 50% refundable tax credit.
South Boston NDC was one of 38 community organizations across the state awarded a total of $3 million through this unique tax credit program signed into law on August 6, 2012. The tax credits are provided to increase the capacity of these community-based organizations in an effort to boost economic and housing activity in their communities.
Utilizing the tax credits, SBNDC hopes to attract $200,000 in donations in 2015 to invest in the organization’s multi year business plan. This Community Investment Plan will continue SBNDC’s 30-year mission to increase the supply of affordable housing in South Boston. The plan also expands on other mission goals to address neighborhood challenges such as substance abuse, obstacles to living-wage employment, and quality of life issues affecting resident health and the livability of the South Boston neighborhood.