The Community Investment Tax Credit (CITC) program provides a tax credit worth 50% of your gift, enabling you to double your donation. Offered by the Commonwealth of Massachusetts, this program helps expand access to dignified, affordable year-round housing. Gifts of nearly $2.5M have realized $5M in donations for Island Housing Trust.

A donor wants to give $5,000. With CITC, the donor is able to double their gift to $10,000 and receive a tax credit or refund of $5,000 on the tax return for the year in which the donation was made. The impact to IHT is doubled, but the ‘out of pocket’ expense remains the same once the tax credit or refund is received.

· Individuals, foundations, and businesses can support IHT using CITC credits.
· Massachusetts residents, businesses, and foundations receive a tax credit that can be directly applied to their tax return.
· Out-of-state residents, businesses, and foundations receive a refund by completing an out-of-state Massachusetts tax return.

· Cash (or equivalent) and IRA gifts qualify; stock gifts do not. Donor-advised funds (DAF) gifts are eligible, with the credit benefitting the DAF, not the donor.
· Gifts of $1,000 or more are eligible to receive tax credits.
· Checks, online donations, and ACH/ wire transfers are acceptable donation methods.

Credits are available on a first-come, first-served basis with preference given to multi-year pledges. Pledge payments can be made at any time of year. It is recommended that one-time donations can be made early in the year to secure tax credits.

Please mail a check to the following address, and include “CITC” in the memo.

Island Housing Trust
P.O. Box 779
West Tisbury, MA
02575

We want to make supporting IHT as easy as possible. Please email IHT Advancement Director, Erin Hepfner, at ehepfner@ihtmv.org or call (508) 693-1117 ext. 8.

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