Your investment will strengthen the New Bedford community through historic preservation!
Your gift will strengthen New Bedford and improve the lives of local residents by:
- Restoring and reusing historic treasures
- Creating opportunities in affordable housing
- Providing new arts and cultural venues
- Developing stronger neighborhoods
- Fostering a vibrant community
- Educating the community on preservation
For a limited time, the Commonwealth of Massachusetts is offering a special tax credit to encourage increased support for community development corporations like WHALE.
The Massachusetts Community Investment Tax Credit provides a 50% state tax credit for donations of $1,000 or more. If the credit exceeds your liability, the state refunds the balance of the credit.
GIVE EARLY! Act Now! A donor can be an individual or corporation.
Here’s an example of the annual tax savings:
This illustration represents a 35% tax bracket. Situations vary. Please consult your tax advisor.
WHALE GIVING LEVEL | Column | Capital | Portico | Medallion | ||
Donation to WHALE | $1,000 | $2,500 | $5,000 | $10,000 | ||
MA Community Investment Tax Credit | $500 | $1,250 | $2,500 | $5,000 | ||
Federal Tax Deduction (35%)* | $175 | $438 | $875 | $1,750 | ||
Total First Year Tax Savings | $675 | $1,688 | $3,375 | $6,750 | ||
Net Donation | $325 | $812 | $1,625 | $3,250 | ||
*Illustration – 35% tax bracket. Consult your tax advisor |
Make your donation today! Every contribution makes a difference. WHALE is a 501(c)(3) non-profit organization. You may donate online or contact us to speak with someone about the Community Investment Tax Credit Program. We hope you will make a contribution, and in turn make a difference in the lives of the New Bedford community.
For More Information
Please contact Diane Brodeur, General Manager, at 508-997-1776 or dbrodeur@waterfrontleague.org
Additional Resources
MACDC and United Way CITC Promotional Video
Commonwealth of Massachusetts CITC Webpage
Federal Reserve Bank of Boston CITC Article
MASS.gov CITC Info