Helping Somerville Remain Accessible
Somerville Community Corporation (SCC) created the Social Equity Campaign to ensure that Somerville remains accessible to its diverse and vibrant population.
This is especially important today, as more than six million square feet of development is slated for Union and Assembly squares alone over the next decade.
While offering potential benefits for the City’s diverse communities, this explosion of development puts more residents and local businesses at risk of being displaced. A donation to the Social Equity Campaign through the state’s Community Investment Tax Credit (CITC) program provides more affordable housing and good jobs for Somerville residents.
The twin emphasis on affordable housing and financial stability, supported by our community organizing work, helps Somerville residents from all socioeconomic backgrounds reap the benefits of this transformation.
The Community Investment Tax Credit
The Community Investment Tax Credit (CITC) provides a 50% donation tax credit for qualified contributions that you make each tax year. The purpose is to support community-led economic development initiatives by building a base of private contributors like you.
While this is a program of the Massachusetts Department of Housing and Community Development, those donating are also eligible for the federal charitable deduction.
Six million dollars in tax credits were made available for Massachusetts CDCs last year. The CITC program can potentially generate $66 million in new community investment through 2019.
Click here to learn how CITC works for donors.
For more information on CITC, contact Meridith Levy at 617.776.5931, ext. 242 or email@example.com.