Grants made from CDFA are in the form of credits, not cash. New Hampshire businesses support the projects of the organizations by purchasing tax credits. Rather than contributing cash to a nonprofit and receiving a modest federal tax deduction, CDFA tax credits are an above-the-line, 75% state business tax credit. This allows the nonprofit to receive a donation while allowing the company to get a 75% state tax credit against their contribution.Since September, 2015, the Boys and Girls Club has completed sales of tax credits to the following: Airmar Technology Corporation, Amherst Orthodontics, Associated Grocers of New England, Coliseum Avenue Entertainment, Ciardelli Fuel Company Inc., Contemporary Automotive Inc., Control Air Inc., Hitchiner Manufacturing Company Inc., Kimball Physics Inc, Lake Sunapee Bank, Subaru of Milford Inc., Thomas F Moran, Inc., and Turnstone Corporation. Several other purchases are pending and should be completed within weeks.
The net $600,000 of the credits is part of the recently announced $3 million Capital Campaign which is currently underway.
For more information about the planned expansion, visit www.svbgc.org. To learn how you can support the campaign, email Susan Taylor, Executive Director, at staylor@svbgc.org.
