Community Investment Tax Credit (CITC)

Good for You, Great for Our Communities

With a CITC Gift, You receive $500 Back for Every $1,000 You Invest in HCP 

Since 2015, HCP has raised over $1.8M in CITC-related Philanthropy, directly impacting our neighbors in need of homes. 

What is CITC?

The Community Investment Tax Credit, or CITC, is a MA program to incentivize giving and maximize donations made to organizations like HCP (“Community Development Corporations”, or CDCs).  Since its 2012 inception in MA, the CITC program has grown stronger each year. CITC promotes public/private partnerships by supporting work of Community Development Corporations (CDC) such as Harborlight Community Partners

Learn more about the CITC State Program

Learn more about the state-wide impact of CITC

CITC credits are limited. If you are interested in making a Community Investment Tax Credit Gift, please contact bblake@harborlightcp.org prior to making your gift. 

HOW CITC WORKS

With your qualifying contribution to Harborlight Community Partners, you will receive a 50% state tax credit for your contribution. You may even qualify for a federal tax deduction (for taxpayers who choose to itemize; check with your tax advisor). 

Please consult your tax advisor regarding questions specific to tax filing and to determining final out of pocket cost.

To qualify, donations to HCP must:

  • Be paid by cash, check or credit card. Gifts of stock or in-kind goods or services to not qualify (please contact Bethany bblake@harborlightcp.org for credit availability)
  • Minimum of $1,000 
  • Be received by HCP by 12/31 of current year.
  • Made in one gift or installments throughout the year (all donations must be received prior to 12/31; and no goods or services have been received in exchange).
  • Qualified donations are claimed in the tax reporting year for which the donation is received by HCP.
  • NOTE:  Contribution is encouraged to be in excess of your previous year’s donation. To maximize the full advantage of this CITC program, we encourage doubling the amount of your previous annual gift.

MORE About CITC

  • CITC is available to individuals, corporations and non-profit organizations, regardless of state residency, who make a qualified cash donation. (Out of state donors may file a non-resident return in MA to receive the tax credit in the form of a refund).
  • Donors who have no tax liability will receive a refund in the amount of the credit.
  • Donor Advised Funds: A gift through a DAF is eligible provided the fund manager files a return in MA; the 50% tax credit will be refunded to the DAF account for future giving. Please check with your DAF manager prior to making a contribution from your DAF account.
  • Banks qualify for credit under the Commonwealth’s Community Reinvestment Act (CRA)