$5.5 Million in Tax Credits Goes to N.H. Nonprofits
Sixteen New Hampshire nonprofits will receive funding in the form of tax credits from the Community Development Finance Authority. The tax credits total $5.5 million.
Among the projects that will benefit are clean energy upgrades for a family resource center in Plymouth, funding for a business incubator in Keene and improvements to the historic Colonial Theatre in Bethlehem.
The Granite YMCA in Manchester received $525,000 in tax credits. President and CEO Harold Jordan said that will allow the center to double the number of students served by its afterschool program.
"As you know in Manchester there's a lot in the press about heroin addiction and dropouts and kids struggling," Jordan said. "So we're building a three-times the size center for youth and team leadership for our middle school and high school students to gain character development, make relationships with one another, and do a lot of homework help and academic support as well."
Businesses purchase the tax credits, allowing them to donate to the nonprofits while reducing their own tax burden.
About $5 million in tax credits are given out in New Hampshire each year. But there's a lot of competition for that money. This time around, the Community Development Finance Authority received requests totaling $14 million.
See below for a full list of funded projects: