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Community Investment Tax Credit (CITC)

In a July 2014 interview, Governor Deval Patrick speaks about the Community Investment Tax Credit.

On March 4, 2014, Lawrence CommunityWorks was awarded $100,000 in Massachusetts tax credits which it can distribute to individual, corporations, or foundations for their donations to LCW over $1,000. 

A Special Invitation for “Double Bottom-Line” Investors

This unique and new philanthropic investment opportunity in Massachusetts offers you the ability to contribute to the community, the economy, and the world – all while getting a better return on your investment. We invite you to participate in this opportunity by becoming a Champion Investor in Lawrence CommunityWorks.

How do you become a Champion?

The Massachusetts legislature established a Community Investment Tax Credit for individual and corporate taxpayers, designed to encourage private donations for local community development efforts.  The Credit allows you to support Lawrence CommunityWorks while getting twice the normal tax benefit for charitable giving. 

The credit is equal to 50% of a “qualified investment” in a particularly designated community partner as selected by the Massachusetts Department of Housing and Community Development. In the greater Lawrence area, Lawrence CommunityWorks (LCW) is that community partner – a state-certified nonprofit community development corporation.

With your investment, LCW will have the opportunity to raise almost $1 Million over the next 3 years to re-invest directly in the neighborhoods and the people of Lawrence! 

Champion Investors must contribute at least $1,000 to be eligible. The contribution must be in the form of a cash donation. In addition to receiving the 50% state tax credit, donors may also take a federal tax deduction for the balance of their donation. The credit is REFUNDABLE if the taxpayer does not have a tax liability.

By choosing to be a “Champion Investor” in Lawrence CommunityWorks, you can take advantage of a great offer while investing in the common good through a proven, award-winning organization right here in Lawrence - a double bottom-line investment!

To learn more, please contact our Resource Development Office at rd@lawrencecommunityworks.org.

The state announcement about the Community Investment Tax Credit Allocations

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