Greater Nashua Habitat for Humanity expands Capacity Through New Hampshire CDFA Tax Credit Program
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Greater Nashua Habitat for Humanity is poised to expand its impact in Southern New Hampshire thanks to participation in the New Hampshire Community Development Finance Authority (CDFA) tax credit program. This collaboration will allow the non-profit to strengthen partnerships and increase its ability to provide affordable housing solutions to local residents.
Greater Nashua Habitat for humanity: A Commitment to Affordable Housing
Since 1994, Greater Nashua Habitat for Humanity has been dedicated to building “safe, decent, and affordable housing” in Southern New Hampshire.as a 501(c)(3) non-profit organization, they focus on empowering families and building stronger communities through affordable homeownership and critical home repair programs. You can find more data about their work at nashuahabitat.org.
How the New Hampshire CDFA Tax Credit Program Works
The New Hampshire CDFA tax credit program is a powerful tool for funding community development projects. It allows businesses operating within the state to contribute financially to qualifying projects – like those undertaken by Greater Nashua Habitat for Humanity – in exchange for a state tax credit.
HereS a breakdown of how it works:
* Business Contribution: Businesses make a financial contribution to a CDFA-approved project.
* Tax Credit Received: Businesses receive a New Hampshire state tax credit equal to 75% of their contribution.
* Credit Utilization: This credit can be applied against New Hampshire business tax payments (business profits, business enterprise, or insurance premium taxes) over a period of five years.
* Supporting Local Impact: The program effectively allows businesses to direct their state tax dollars towards projects they believe in, fostering positive change within New Hampshire communities.
The CDFA carefully reviews all project applications, awarding tax credits to those deemed feasible and likely to have the greatest positive impact on economic development within the state. More details about the CDFA and the tax credit program can be found at nhcdfa.org.
Strengthening Partnerships for Greater Impact
By leveraging the CDFA tax credit program,Greater Nashua Habitat for Humanity aims to increase its capacity and broaden its reach. The funds generated through this program will be instrumental in:
* Expanding Affordable Homeownership Opportunities: Building more homes for families in need.
* Increasing Critical Home Repair services: Helping existing homeowners maintain safe and habitable living conditions.
* Forging stronger Community Partnerships: Collaborating with local businesses and organizations to maximize impact.
Key Takeaways
* greater Nashua Habitat for Humanity is expanding its capacity through the New Hampshire CDFA tax credit program.
* The CDFA program allows businesses to receive a 75% tax credit for contributions to approved community development projects.
* This partnership will enable Greater Nashua Habitat for Humanity to provide more affordable housing and home repair services to Southern New Hampshire residents.
This collaboration represents a significant step forward in addressing the critical need for affordable housing in Southern New hampshire.By working together,Greater nashua Habitat for Humanity,the CDFA,and local businesses are investing in a stronger,more vibrant future for the region.
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