03 Sep 2026 What are CITCs, anyways?
Community Investment Tax Credits, or CITCs, are a unique tax incentive offered by the state of Massachusetts to “enable local residents and stakeholders to work with and through community development corporations (CDCs) to partner with nonprofit, public, and private entities to improve economic opportunities for low and moderate income households and other residents in urban, rural, and suburban communities across the Commonwealth.”
CITCs allow a community development corporation to energize fundraising efforts by providing their donors with a 50% tax credit for donations over $1000. The amount of credits allocated to a CDC within a given tax year is a set amount, so be sure to consult your local CDC and personal tax advisor before making a gift.
The program was created by Chapter 238 of the Acts of 2012. Since then, the state of Massachusetts has awarded over $100 million in credits across the Commonwealth to advance development that will improve opportunities for our communities.
Historic Boston Inc. and the Hyde Park Historical Society have partnered with the Southwest Boston CDC in order to offer these benefits to donors helping us “Raise the Roof” for the 1896 Phillips Brooks Memorial Reading Room. This effort is focused on securing the structure with a new roof before winter, so time is of the essence!
