Tax Credit program
A Win-Win for Your Business and Our Community
The Front Door Agency will use the sale of tax credits to help fund the expansion of our office capacity and infrastructure. By purchasing tax credits through The New Hampshire Community Development Finance Authority’s (CDFA) Tax Credit Program, you receive valuable tax benefits while helping the Agency continue to fight homelessness in Greater Nashua.
Please click here to access our Tax Credit Program brochure for more information.
Questions? Contact Nicole at (603) 816-0293 or email@example.com.
How will the Front Door Agency use funds received through the sale of tax credits?
The Front Door Agency will use the sale of tax credits to fund the expansion of our office capacity and infrastructure to accomodate Agency growth. As a result, our staff will be able to meet current demand for our services and continue producing positive outcomes in our community.
With recent additions to our staff and demand for our services increasing, there is no room for growth in our current office space, which poses many challenges:
- A lack of office space. Currently, every office is occupied and some offices are shared by multiple staff members. The only conference room in the building has been converted to a make-shift office so there is currently no meeting space available. There is also a lack of space to store donations, and room to properly sort and distribute them. With no additional space, it’s impossible to expand for future client services or to make room for interns and additional volunteers who are so vital to meeting client needs.
- Safety and security risks. Some of the offices in our building lack viable heating/cooling systems which is uncomfortable and makes regulating the temperature in the building difficult and not energy efficient. In fact, we rely on a space heater to accommodate ADA restrictions. While there are two staircases in the building, only one is usable, creating a safety hazard. Also, our shared lobby spaces are completely open, posing a security risk and making it difficult to social distance.
- Concerns about social distancing within the office. At maximum capacity, it is difficult to be socially distant during the COVID-19 pandemic. Our staff is currently coming into the office on staggered schedules to address this concern.
How does the Tax Credit Program work?
The CDFA awards approximately $5 million in tax credits annually to nonprofits throughout New Hampshire. Grants made to eligible projects are in the form of tax credit equity. Organizations submit proposals for Tax Credit projects, which are subjected to a substantial programmatic and financial review. Projects must provide a clear public benefit and deliver measurable outcomes. Once approved, organizations receive tax credit equity. New Hampshire businesses like yours support the selected projects by purchasing the tax credits, resulting in the nonprofit receiving a donation and your company receiving valuable tax benefits.
What tax benefits will I receive?
You receive a 75% New Hampshire state tax credit against your contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax or Insurance Premium.
Your community impact is increased significantly by leveraging tax dollars. For example, a business can make a $10,000 impact on the local community for a net cost of $1,710. Similarly, another business can make a $1,000 impact for a net cost of $171.
For complete program information, please click here to visit the Community Development Finance Authority’s website.