0 Community Investment Tax Credits Available for 2011
Minimize tax payments, maximize the impact of charitable dollars!

Habitat for Humanity of Wicomico County has been approved by the Maryland Department of Housing and Community Development to distribute a limited amount of tax credits to individuals or businesses operating in Maryland and who donate through the Community Investment Tax Credit (CITC) program. Tax credits are available on a first-come, first-served basis as available.

In addition to 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 credit may be taken against personal income tax, corporate 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.

To qualify for the credit, the individual or business must donate at least $500, which qualifies as a charitable contribution on both Maryland and Federal returns and is tax-deductible to the fullest extent allowed by law. Individuals or businesses receive their normal charitable deduction on both Federal and State taxes and an additional credit of 50% of the donation on their Maryland tax return.  Net cost to the donor can be as little as 27 cents on the dollar , depending on the donor’s tax rate.

Funds donated through our 2011 Tax Credit drive will be used to build a home located at 202 Linwood in the East Church Street neighborhood as part of Habitat's continued efforts to revitalize this core city neighborhood.

In addition to this leverage, each time we finish a home we sell it to a partner family who undertakes a 30-year no-interest mortgage held by Habitat.  This income supports our building program, so the more homes we build, the more homes we are able to build.

Finally, we are adding value to the work we do in helping deserving families achieve the dream of homeownership by being a partner in the community’s efforts to help revitalize our older core neighborhoods. We currently have nine families in place in the Church Street neighborhood and three more properties to develop in the same neighborhood.

Your gift today will help us build homes, build families and build neighborhoods  right here in Wicomico County for many years to come.

"Habitat relies on the generosity of our community to give deserving low-income families a hand-up to home ownership.  Tax credits can provide an added incentive for some to increase their giving level or to make an intial gift", explains Joan Mulvanny, Habitat's Executive Director.  For further information on the benefits of tax credits, please call Joan at 410-546-1551 or [ email ]

Donate now Click here

** Yes!  Donor-advised funds held by the Community Foundation of the Eastern Shore are also eligible for this program. **