Community Investment Tax Credit

Invest in Groundwork Lawrence and Recover 50% of your Donation!

We are pleased to announce that you now have the opportunity to invest in Groundwork Lawrence in a new and exciting way through the Community Investment Tax Credit Program (CITC). Established by the Massachusetts Legislature with the goal of spurring more private donations to organizations doing community development work, the credit enables you to invest in GWL while receiving a substantial tax benefit. CITC provides a 50% tax credit against Commonwealth of Massachusetts tax liability.

How does the Community Investment Tax Credit Program work?

  • Simply make an increased donation of $1,000 or more to GWL and we'll send you the link to process your tax credit
  • If you do not have sufficient tax liability, you will receive a check from the state for the amount of your credit
  • Minimum investment is $1,000
  • Out of state filers are eligible
  • Donations qualify for the Federal Charitable Tax Deduction on the TOTAL donation
  • Everyone qualifies, including: individuals, donor advised funds, foundations, and corporate donations
  • Questions? Please contact Susan Wojtas.
  • More information about the CITC Tax Credit

TAX SAVINGS EXAMPLES

 

Individual, Itemized

35% tax bracket

Individual, AMT

28% tax bracket

Corporation

35% tax bracket

Donation

$10,000

$10,000

$10,000

CITC

$(5,000)

$(5,000)

$(5,000)

Federal Charitable Tax Deduction

$(3,500)

$(2,800)

$(3,500)

1st Year Tax Savings

$8,500

$7,800

$8,500

Possible 2nd Year “Add Back”

$1,750

N/A

$1,750

Possible Final Out-of the Pocket Cost

$3,250

$2,200

$3,250

Please consult a professional tax advisor to determine the final out-of-pocket cost for specific donors. 

To participate in this program, donate here. Thank you in advance!