Massachusetts State Tax Credit

Massachusetts State Tax Credit makes dollars and sense. Don’t miss out on your 50% State tax rebate!

What is the Community Investment Tax Credit (CITC)?

The Massachusetts Community Investment Tax Credit (CITC) provides a 50% state tax rebate for donations to CDCSB of $1,000 or more. Individuals, businesses, non-profits, and out-of-state residents can all take advantage of this program.

Read here for more information about the CITC Program.

Why CITC?

As the donor, you are receiving a considerable tax benefit while making a charitable investment! As a CITC donor, you are providing essential, flexible funds for CDCSB to develop new programs, expand current services, and fill funding gaps. Join many other individuals, non-profits, and businesses taking advantage of this unique opportunity today.

At first I thought the CITC Program was too good to be true! After making my first qualifying donation and receiving the tax credit, I doubled my donation the next year; a Win-Win for a great cause! Tom Doyle

Real Estate Broker

The tax credits are an extraordinary leverage of philanthropic investment in our community and a wonderful incentive for our donors knowing that their money is developing affordable housing and creating economic growth in the southern Berkshires. Tim Geller

Executive Director, CDC of South Berkshire

How does it work?

  1. Make a donation of at least $1,000 to CDCSB online or by sending a check to CDCSB PO Box 733 Great Barrington, MA 01230.
  2. CDCSB creates an online account in Massachusetts’s CITC system and you will receive an email to log in.
  3. You fill out a quick and easy online form that takes approximately 5-8 minutes.
  4. CDCSB verifies your form.
  5. You receive a certificate 4 to 6 weeks after your submit your portion of the form that you will file with your state taxes.

If you are not an MA resident you will receive a check in the mail from the state for the amount of your tax credit.

The total donation qualifies for the Federal Charitable Tax Deduction.

 

Tax Savings Example

Illustration
35% Tax Bracket
Minimum Annual Donation Sample Annual Donation
Donation $1,000 $10,000
Tax Credit $500 $5,000
Fed Tax Deduction (35%) $175 $1,750
Total Tax Savings $675 $6,750
Final Out-of-Pocket Donation $325 $3,250

*Please consult a tax advisor regarding specific situations.

Are you a returning CITC donor?

  • Click here to access the online portal.
  • Did you forget your username or password? Email info@cdcsb.org.

Frequently Asked Questions

Can an individual, business, or nonprofit donate $1,000 or more and still qualify for CITC?
Yes, businesses and nonprofits can make a CITC qualifying donation.
Can I still use the CITC if I don't pay taxes in Massachusetts?
If you don’t pay taxes in Massachusetts, we will submit your donation information to the state and they will send you a check for half of your qualifying donation.
Can I give more than $1,000?
Yes,  you can donate more than $1,000 towards a CITC donation. You will receive the benefits for the full amount over $1,000.
Can a donation be designated toward a specific CDCSB project and still qualify as a CITC donation?
Yes, a donation earmarked for a specific project qualifies as a CITC donation.
Can I make a CITC donation every year?
Yes, as long as the state runs the CITC program and CDCSB receives an allocation of tax credits, you may make a CITC donation.
Can I make more than one CITC donation in a single year?
Yes, you may make more than one CITC donation in a single year. We will process each donation separately and you will receive two certificates from Massachusetts to submit with your taxes.
What if I have more questions about a CITC donation?

If you have more questions about a CITC donation, please email Emmalyn at emmalyn@cdcsb.org or call (413) 528-7788.

Massachusetts State Tax Credit

Massachusetts State Tax Credit makes dollars and sense. Don’t miss out on your 50% State tax rebate!

What is the Community Investment Tax Credit (CITC)?

The Massachusetts Community Investment Tax Credit (CITC) provides a 50% state tax rebate for donations to CDCSB of $1,000 or more. Individuals, businesses, non-profits, and out-of-state residents can all take advantage of this program.

Read here for more information about the CITC Program.

Why CITC?

As the donor, you are receiving a considerable tax benefit while making a charitable investment! As a CITC donor, you are providing essential, flexible funds for CDCSB to develop new programs, expand current services, and fill funding gaps. Join many other individuals, non-profits, and businesses taking advantage of this unique opportunity today.

At first I thought the CITC Program was too good to be true! After making my first qualifying donation and receiving the tax credit, I doubled my donation the next year; a Win-Win for a great cause! Tom Doyle

Real Estate Broker

The tax credits are an extraordinary leverage of philanthropic investment in our community and a wonderful incentive for our donors knowing that their money is developing affordable housing and creating economic growth in the southern Berkshires. Tim Geller

Executive Director, CDC of South Berkshire

How does it work?

  1. Make a donation of at least $1,000 to CDCSB online or by sending a check to CDCSB PO Box 733 Great Barrington, MA 01230.
  2. CDCSB creates an online account in Massachusetts’s CITC system and you will receive an email to log in.
  3. You fill out a quick and easy online form that takes approximately 5-8 minutes.
  4. CDCSB verifies your form.
  5. You receive a certificate 4 to 6 weeks after your submit your portion of the form that you will file with your state taxes.

If you are not an MA resident you will receive a check in the mail from the state for the amount of your tax credit.

The total donation qualifies for the Federal Charitable Tax Deduction.

 

Tax Savings Example

Illustration
35% Tax Bracket
Minimum Annual Donation Sample Annual Donation
Donation $1,000 $10,000
Tax Credit $500 $5,000
Fed Tax Deduction (35%) $175 $1,750
Total Tax Savings $675 $6,750
Final Out-of-Pocket Donation $325 $3,250
Illustration
35% Tax Bracket
Minimum Annual Donation Sample Annual Donation
Donation $1,000 $10,000
Tax Credit $500 $5,000
Fed Tax Deduction (35%) $175 $1,750
Total Tax Savings $675 $6,750
Final Out-of-Pocket Donation $325 $3,250

*Please consult a tax advisor regarding specific situations.

Are you a returning CITC donor?

  • Click here to access the online portal.
  • Did you forget your username or password? Email info@cdcsb.org.

Frequently Asked Questions

Can an individual, business, or nonprofit donate $1,000 or more and still qualify for CITC?
Yes, businesses and nonprofits can make a CITC qualifying donation.
Can I still use the CITC if I don't pay taxes in Massachusetts?
If you don’t pay taxes in Massachusetts, we will submit your donation information to the state and they will send you a check for half of your qualifying donation.
Can I give more than $1,000?
Yes,  you can donate more than $1,000 towards a CITC donation. You will receive the benefits for the full amount over $1,000.
Can a donation be designated toward a specific CDCSB project and still qualify as a CITC donation?
Yes, a donation earmarked for a specific project qualifies as a CITC donation.
Can I make a CITC donation every year?
Yes, as long as the state runs the CITC program and CDCSB receives an allocation of tax credits, you may make a CITC donation.
Can I make more than one CITC donation in a single year?
Yes, you may make more than one CITC donation in a single year. We will process each donation separately and you will receive two certificates from Massachusetts to submit with your taxes.
What if I have more questions about a CITC donation?

If you have more questions about a CITC donation, please email Emmalyn at emmalyn@cdcsb.org or call (413) 528-7788.