Support our programs!
Through the Community Investment Tax Credit, you as an individual, business or nonprofit have the exciting opportunity to invest in the development of safe, affordable housing for low-income families residing in the South End – and have your impact doubled!
The Massachusetts Community Investment Tax Credit (CITC) provides a 50% state tax credit for donations to IBA of $1,000 or more. If the credit exceeds your liability, then the state issues a payment for the balance of the credit. Donors can be individuals, corporations, or nonprofits. The full value of your donation is also eligible for a federal charitable tax deduction.
The Community Investment Tax Credit (CITC) was signed into law by Governor Deval Patrick on August 6, 2012 as part of a larger economic development bill called An Act Relative to Infrastructure, Enhanced Competitiveness and Economic Growth in the Commonwealth. It is designed to support high-impact Community Development Corporations, like IBA.
How It Works:
State-certified Community Development Corporations (CDCs) such as IBA develop high quality and high impact, multi-year business plans, known as a Community Investment Plan, for community improvement and economic development.
IBA is awarded up to $200,000 in state Community Investment Tax Credits (CITC) that we use to attract up to $400,000 in private Investment each year. The tax credits are equal to 50% of the donation made by you, the corporate or individual taxpayer.
You, the donor, invest in IBA’s business plan, thereby providing flexible working capital that can be used to seed new programs, fill funding gaps, leverage other resources and achieve maximum impact.
You receive a 50% state tax credit on your donation.
About IBA’s Community Investment Plan:
The Community Investment Plan (CIP) that IBA developed is rooted in our community history, experience, and vision for the future. IBA’s housing community serves low-income families in Boston and is affordable, safe, healthy, environmentally sustainable and vibrant. With housing at its core, IBA supports families to break out of the cycle of poverty and become financially empowered. We do this through high quality and evidence-based programming to help our residents build economic and social capital. IBA envisions a community that is inclusive and welcoming, and a place that embraces and respects diversity. The arts are used effectively to build community, share cultures, and preserve and promote Latino culture and heritage. IBA’s staff and residents work with neighbors in the South End of Boston to create a safe and vibrant community for all. By combining housing, education, and arts, IBA is a national model of excellence for the integration of affordable housing with comprehensive community programming.
In 2016, IBA’s Board of Directors strengthened the organization’s mission, vision and values by approving a new five-year strategic plan (2017-2021). Moreover, the Board reaffirmed the goals of the CIP and our commitment to the initiative. IBA’s CIP proposed using CITC to support three main goals: (A) preserve and develop affordable housing; (B) support capital improvements of IBA’s commercial assets; and (C) increase economic, educational and social capital in our community. We have made great progress toward completing important milestones within each of the three goals.