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Invest in JAS and Get a 50% Tax Credit

JAS is Cambridge’s only nonprofit selected for Community Investment Tax Credit program

A donation to Just-A-Start (JAS) this year will have a bigger impact than ever to JAS and to your wallet.

Just-A-Start is the only nonprofit in Cambridge selected for the Community Investment Tax Credit (CITC) program, a Massachusetts program administered by the Department of Housing and Community Development (DHCD). This program supports community development efforts by incentivizing donors with a tax credit of 50% of a donation over $1,000.

“Donors who contribute through the CITC get a two-fold return on their investment in JAS – improvements to the community and a substantial tax credit,” said Deborah Ruhe, executive director of JAS. “This has a strong impact on our local community development efforts, including creating affordable housing, job skills development, neighborhood revitalization, and education.”

For example, if an individual contributes $1,000 to JAS, they can claim $500 as a tax credit on their Massachusetts state tax return. And if a corporation donates $10,000, they are able to claim a $5,000 tax credit. And in addition to reducing their state tax liability, donors may also be eligible to receive a federal deduction on their net donation.

In turn, JAS receives similar tax credits that benefit their mission to build economic resiliency among low- to moderate-income residents and allow program participants to attain economic security and upward mobility. For example, if JAS raises $200,000 from individuals, foundations, corporations, and nonprofits, they will receive $100,000 in tax credits through the CITC program.

To qualify, donations must be at least $1,000. The CITC tax credit is available to individuals, corporations, foundations, and non-profit organizations, regardless of state residency, who make qualified cash donations. Donors who have no tax liability and out-of-state donors who are not required to file a return in Massachusetts may still receive the tax credit from the state in the form of a refund.

The CITC was signed into law by Governor Deval Patrick in 2012 and has bipartisan support from Governor Charlie Baker. It was part of an economic development bill called An Act Relative to Infrastructure, Enhanced Competitiveness and Economic Growth in the Commonwealth and originally sponsored by Representative Linda Dorcena Forry and Senator Sal DiDomenico. The goal, according to the statute, is “to enable local residents and stakeholders to work with and through 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.”

For more information about JAS’s involvement in the CITC program, please contact Kathleen Carney, JAS’s director of development, at 617-918-7558 or kathleencarney@justastart.org.

For more information about the CITC, visit http://macdc.org/community-investment-tax-credit