Sixteen New Hampshire nonprofits are getting a financial boost, thanks to a unique public-private partnership.
The NH Community Development Finance Authority on Tuesday announced this year’s recipients of the state tax credit program, worth more than $5.2 million.
“Each of this year’s tax credit awardees demonstrate a strong commitment to serving New Hampshire through a wide range of initiatives vital to the success of our communities,”said Taylor Caswell, Executive Director of the CDFA, during a reception in Concord.
The program works like this: the winning non-profits “sell” their allotment of tax credits to local businesses, which in exchange get a hefty 75% tax write-off for their “purchase,” while the non-profits receive money to support their initiatives.
“None of this would be possible without the New Hampshire business community, and their dedication to this program,” said Caswell.
This year’s recipients come from across the state, including an infrastructure project at The Community Kitchen in Keene, a planned upgrade to the rail trail in Goffstown, and a veteran’s housing project in Plymouth. (You can see a full list of recipients below.)
Caswell says the program has a 100% success rate at “selling” the tax credits--what he calls a testament to both the businesses and nonprofits engaging in the work.
The program dates back to 1998. This year, the CDFA received 35 applications valued at more than $14 million.
This year's recipients of the state tax credit program are:
- Boys and Girls Clubs of Central NH (Laconia) – $375,000: Tax credits will be used to increase the organization’s capacity to serve local youth by making the facility ADA compliant, among other necessary facility improvements.
- Concord Coalition to End Homelessness (Concord) – $431,166: Funds will be used to develop a permanent emergency winter shelter that will provide up to 42 beds for the homeless, combined with a more accessible and permanent home for the organization’s Homeless Resource Center services. This project will address a critical gap ion Concord’s safety net for the homeless.
- Easterseals NH (Manchester) – $250,000: Tax credits will be used to help renovate a 60,000 square foot building which houses numerous programs and community-based services benefiting serving low-income individuals. Services to be housed in the renovated facility include those impacting children, seniors, veterans, individuals with developmental disabilities, as well as a workforce development program.
- Friends of the Goffstown Rail Trail (Goffstown) – $72,875: Funds will be used to upgrade a portion of the rail trail connecting Goffstown with Manchester, helping to create a safe space for recreation and transit for local residents.
- Girls, Inc. of New Hampshire (Nashua) – $250,000: Tax credits will be used to help fund the expansion and renovation of the organization’s Nashua facility. The project will enable Girls, Inc. to provide important services – including leadership development and enrichment programs for girls – to additional families.
- Harbor Homes, Inc. (Plymouth) – $700,000: Funds will be used to help develop a veteran's housing project in Plymouth. The new facility will include 25 one-bedroom and 5 two-bedroom apartments for homeless veterans, as well as space to deliver individualized supportive services and case management.
- Historic Harrisville, Inc. (Harrisville) – $257,719: Tax credits will be used to install a new hydropower turbine in order to generate renewable electricity onsite at the historic Cheshire Mills Complex. The significant energy savings will help the organization focus more funds on furthering its mission and continue to provide affordable commercial and residential space for the local community.
- Boys and Girls Club of Manchester (Manchester) – $400,000: Funds will be used to help expand the organization’s current facility by 4,800 square feet. The new space will enable the Boys and Girls Club of Manchester to deliver important programming and services to 50 percent more low-income children by 2020.
- Moving Company Dance Center (Keene) – $350,000: Tax credits will be used to help construct a new 16,887 square foot building in downtown Keene, enabling the organization to serve more area youth, as well as create four new full-time jobs, redevelop a vacant and blemished city block, and increase its tuition assistance for low-income students.
- NeighborWorks Southern NH (Nashua) – $375,000: Funds will be used to invest in the Nashua Tree Streets neighborhood to revitalize the area and improve the quality and affordability of area homes. The project will result in the creation of 10 renovated low-income housing units, as well as help provide money for down payment assistance.
- New Hampshire Community Loan Fund (Statewide) – $244,000: Tax credits will be used to help fund the NH Individual Development Accounts program. This initiative provides financial education and matched savings account to promote health savings habits, asset building and financial stability for low-income individuals. More specifically, the program matches at eight-to-one the bank deposits of qualified participants so they may save for things like cars, homes, or higher education.
- One Sky Community Services (Epping) – $230,000: Funds will be used to help renovate and expand a facility in Epping, which provides housing, supportive services and case management for individuals with developmental disabilities.
- Palace Theatre Trust (Manchester) – $156,250: Tax credits will be used to install energy efficient and ADA-compliant doors at the primary entrance of the theatre. The project will allow for increased access to a community asset and enable the organization to allocate its operational savings towards program delivery.
- Seacoast Family Promise (Exeter) – $177,100: Funds will be used to renovate the organization’s Exeter facility, providing for the increased access to critical services that help move homeless families into housing and self-sufficiency. These services include case management, life skills counseling, financial management, housing applications referrals to local mental health services and more.
- SEE Science Center (Manchester) – $200,000: Tax credits will help fund new and enhanced exhibits that promote interactive Science, Technology, Engineering and Mathematics (STEM) learning for Manchester school-aged children and the local community.
- The Community Kitchen (Keene) – $156,250: Funds will be used to complete critical facility upgrades that will ensure the continued delivery of food pantry and hot meal program services to low- and moderate-income individuals and families in the Keene area.