Several local nonprofit organizations in Central Massachusetts received money from the Baker-Polito administration’s 2021 Community Investment Tax Credit (CITC) program to help increase economic opportunities for low- and moderate-income residents.
Those benefiting from the CITC program include Worcester Community Housing Resources, Main South Community Development Corporation and Southeast Asian Coalition of Central Massachusetts.
The program allocated nearly $9.7 million in tax credits to 53 community development corporations (CDCs) and community service organizations from across Massachusetts that have adopted community investment plans outlining their development strategies and goals.
The program will help organizations enhance their fundraising and organizational capacity, in support of their efforts to increase economic opportunity for low- and moderate-income residents. It will also allow donors to receive a 50% tax credit refund on their investment to a qualifying organization.
Worcester Community Housing — $175,000
Worcester Community Housing received $175,000 in tax credits which will allow it to double each donated dollar to support affordable housing and neighborhood revitalization efforts, according to Jennifer Schanck-Bolwell, executive director at Worcester Community Housing Resources.
“WCHR intends to utilize the tax credit to support our expenses during that time which can range from staff salaries to initial architectural and engineering costs, legal, etc.,” Schanck-Bolwell said. “We have several projects in our pipeline that these flexible funds will help support including housing for people who experience chronic homelessness, complimentary housing programming for a teen parenting program and other projects.”
Main South CDC — $150,000
The Main South CDC received $150,000 in tax credits to use as a fundraising mechanism for private philanthropists, foundations, banks and private individuals who want to support their work and make a donation.
The money is used to support affordable housing development, tenants’ safety, small business grants and more, according to Steve Teasdale, executive director of the Main South CDC in Worcester.
Southeast Asian Coalition of Central Massachusetts — $50,000
Southeast Asian Coalition of Central Massachusetts will use $50,000 towards acquiring a permanent location for SEACMA as its future in the Denholm building downtown is uncertain, according to Anh Vu Sawyer, executive director of the Southeast Asian Coalition of Central Massachusetts (SEACMA) in Worcester.
“We are very grateful to the United Way of Central Massachusetts for their in-kind donation for our space at the Denholm that, since 2012, has been home not only for SEACMA, but also home for more than 12,000 annual visits from refugee and immigrant families and youth from Asia, Latin America and the Middle East,” Sawyer said. “However, this donation is not permanent.”
Additionally, SEACMA as well as other 14 organizations in the state received $14.7 million in grants which funds both lending and mini-grant programs for small businesses.
“We are beyond grateful for the Baker-Polito’s administration and Mass Association of Community Development Corporations for this great opportunity to help build a vibrant Southeast Asian community for a vibrant Worcester,” Sawyer added.
Other nonprofits
Other nonprofits in Worcester who received money also include Worcester Common Ground that received $150,000 and Worcester East Side that got $100,000.
South Middlesex Opportunity Council and Quaboag Valley Community Dev Corporation in Ware both received $250,000 in tax credits.
Lt. Gov. Karyn Polito and Housing and Economic Development Secretary Mike Kennealy were joined by community development corporations and community service organizations in Revere for the announcement Tuesday.
“Massachusetts Community Development Corporations have been ringing the alarm on our housing crisis for many years, and they have been building high-quality, affordable rental and homeownership opportunities to meet local demand. Throughout the pandemic, they have also been invaluable resources for our small businesses, especially those owned by people of color and serving disadvantaged communities,” Kennealy said.
“The CITC Program enables CDCs to increase their fundraising, and in turn make greater investments in our communities to improve housing, provide assistance to small businesses, and enable neighborhoods to thrive,” he added.
Since the inception of the program in 2014, the state Department of Housing and Community Development has allocated more than $42 million in tax credits, yielding nearly $75 million in new investment for CDCs, according to a release from the state housing and community department.
