HAC Receives $150,000 through Tax Credit Program

For the third straight year, Housing Assistance Coporation has been awarded tax credits to support its Cape Cod and Islands programs.

HAC received $150,000 in tax credits which is the maximum amount through the state’s Community Investiment Tax Credit program. The corporation was one of 37 Community Development Corporations to receive $4.5 million in tax credits.

The credits are given to individuals and businesses who donate more than $1,000 to a CDC with 50 percent of that donation being returned to them. The reimbursement is on top of the federal tax deduction allowed for charitable donations.

HAC also received $150,000 from the tax credit program last with year which went to support Angel House, the NOAH Shelter which serves homeless individuals and other programs which serve more than 6,500 households every year on the Cape Cod, Martha’s Vineyard and Nantucket.

The organization received $50,000 in 2014, the first year of the program in Massachusetts.

Massachusetts Undersecretary of Housing and Community Development Chrystal Kornegay said the tax credit program, “is a highly effective tool for connecting residents and businesses to outstanding community-based organizations.”

She said the work of CDCs are critical.

Those interested in learning more about HAC’s tax credits can contact Margaret Benaka by phone at 508-771-5400 extension 272 or by email at [email protected].