Community Investment Tax Credit (CITC) Program

CITCs support nonprofits by awarding Maryland tax credits to individuals and businesses who make donations. What does that mean? When you make a gift of $500 or more to The Family Tree, you may be eligible to receive a CITC equal to 50% of the value of your gift—that’s in addition to Federal and State charitable tax deductions!

 

Financial Benefits to You

Here is an example of how it could work for an individual that can itemize their deductions and who falls in the federal tax bracket of 24% and the 5.5% Maryland Tax bracket – with a gift of $1,000 you will receive a 50% Maryland tax credit, the federal deduction and Maryland Deduction, giving you a total benefit of $795. That $1,000 gift will cost you just $205.  In turn, we would use that $1,000 to provide life changing 10-week parenting class to moms and dads. 

 

Eligible Gifts

Gifts of money, goods or real property worth $500 or more from individuals or businesses that have tax liability in the state of Maryland can be accepted.

Contributions of service or labor, as well as pledges, are not eligible.

 

How to Apply for CITC

Individuals and businesses making donations must complete a simple one-page form and submit it to The Family Tree. When filing your Maryland Income Tax Return, complete Part E of Form 500CR of the electronic return and submit with appropriate documentation.

Contact Connie Anderton at 443-451-9540 or via email with any questions about tax credits, to take part and confirm they are available!

*Gifts received by third parties, including but not limited to family foundations, donor-advised funds, community foundations, may not be eligible for this program. For more information about eligibility, please consult with your tax advisor.*