Are you looking to reduce your tax burden this year while giving back to the community? The Center for Children has a limited number of Community Investment Tax Credits (CITC) to offer individuals or businesses interested in making a donation of at least $500 to benefit the Centerโs Building Blocks for Success Project. This program incorporates family support services, parenting skills, mental health counseling, and child abuse prevention and treatment services for the most vulnerable, at-risk children and families in our community.
CITCs support 501(c)(3) nonprofit organizations by awarding allocations of State tax credits for use as incentives to attract contributions from individuals and businesses to benefit local projects and services. The Center for Children has been selected to participate in this competitive program.ย
Businesses and individuals that contribute at least $500 to the Center can earn tax credits equal to 50% of the value of the money, goods or real property donated, up to $250,000 in tax credits per year representing $500,000 in contributions. This credit is in addition to any charitable contribution deduction that is allowed for these contributions on both the state and federal income tax returns.
The credit may be taken against corporate income tax, personal income tax, insurance premiums tax or public service company franchise tax. (The same credit may not, however, be applied to more than one tax type.) Individuals, sole proprietorships, corporations and pass-through entities, such as partnerships, subchapter S corporations, limited liability companies and business trusts may claim the tax credit.
The Center for Children is dedicated to the promotion of positive mental health for children, youth and families and the prevention and treatment of child abuse in Southern Maryland.ย Through treatment, education and advocacy, the Center provides hope and healing. Its programs have made a difference to more than 40,000 children and families since our inception in 1989.
For more information about how you can earn tax credits or to learn more about the Center for Children, contact Leslie Prewitt, Director of Development and Marketing at 301.609.9887 or visit
–>
