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CITC: By the Fundraising Numbers

Post date: 
August 21st, 2015
Article Type: 
External News Article
Article Topic: 
Economy
The numbers are counted, tabulated and recorded:  In its first year, the Community Investment Tax Credit (CITC) is a clear financial success for CDCs, the Commonwealth and, most importantly, Massachusetts residents.  As individuals, families, businesses and nonprofits from the outer beaches of the Cape to the rolling hills of the Berkshires learned about this new program, CDCs began to use the tax credit not simply to invite their historical supporters to increase their giving, but also welcomed hundreds of new donors to support their work. The Community Investment Tax Credit gathered speed through the second half of 2014, and concluded by generating $2.7 million from new donors. Overall, $4,709,998 was raised last year through the program. Critically, for every taxpayer dollar allocated toward the program, the Commonwealth realized $2.00 in community-directed donations, including $1.43 in totally new funding not previously available. While these are perhaps the biggest fundraising successes recorded for the first year of the CITC program, the details yield even more positive results worth sharing. - See more at: https://macdc.org/news/citc-fundraising-numbers#sthash.ugAlvPH3.dpuf
Link to article: 
https://macdc.org/news/citc-fundraising-numbers

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