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Community Investment Tax Credits

Rebuilding Together Baltimore has a new opportunity for charitable giving. We have been allocated tax credits to make available to our donors through Maryland’s Community Investment Tax Credits (CITC) Program. This program gives you an opportunity to make a charitable contribution AND reduce your Maryland tax burden. The CITC application process was competitive and we are thrilled to have been chosen as one of the select nonprofits to participate.

Through the CITC Program, you can get a Maryland State tax credit equal to 50% of your donation. That’s right, it’s a credit that reduces the taxes you pay. PLUS, you can still take the federal and state charitable deductions allowable.* Tax credits are available to both individuals and businesses.

Click here to view information about the tax credit program on Maryland’s Department of Housing and Community Development website.

THE BASICS

USING TAX CREDITS:

The tax credits must be used against Maryland state taxes owed for the year in which the contribution was made and may not be used retroactively for taxes from a prior year. In some cases, a portion of the tax credits can be carried over to future years.

ELIGIBLE DONORS:

Individuals: A resident of Maryland (as defined by Maryland tax law)

Businesses: Any entity that conducts a trade or business in the State and is subject to: the State income tax on individuals or corporations: the public service company franchise tax or the insurance premiums tax (eg. corporations, public utility companies, insurance companies, financial institutions, partnerships, sole proprietorships and limited liability companies).

ELIGIBLE CONTRIBUTIONS

Cash contributions of $500 or more.

HOW TO CONTRIBUTE:

Make or pledge your donation today. RTB will follow up with a simple waiver form.

Tax Credits are limited. Rebuilding Together Baltimore was allocated a total of $20,000 Tax Credits through a competitive application process. Tax Credits will be distributed on a first-come, first-served basis.

QUESTIONS?:

Contact Bonnie Bessor, Executive Director
at bonnie@rtbaltimore.org or 410-889-2710.

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Contact

Rebuilding Together Baltimore
5820 York Road, Suite T300
Baltimore, MD 21212
Phone: (410) 889-2710
Fax: (443) 586-0785
Email: Info@RTBaltimore.org

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